As Ottawa’s rental market continues to evolve, it’s crucial to stay informed about the latest trends and developments. In this Q1 2023 rental market update, we delve into the exciting changes taking place in Ottawa’s rental landscape. As a prominent developer, TCU is proud to play a vital role in shaping the market, specializing in purpose-built rentals that cater to the diverse needs of Ottawa’s residents.

  • Average per square foot rents in Ottawa reached a record high of $2.89, and the average monthly rent was $2,377. 
  • Studio units ($3.76) had the highest average per square foot rents, followed by one-bedrooms ($3.03) and two-bedrooms ($2.80). 
  • Sandy Hill, along with other central Ottawa submarkets had the highest per square foot rents for purpose-built rentals ($2.97).
Highlight on Sandy Hill

Within Ottawa’s diverse submarkets, Sandy Hill has emerged as a dynamic and sought-after neighbourhood. The Q1 2023 market update highlights Sandy Hill as a significant area with a demand for rental developments. In the past 12 months alone, TCU has completed three purpose-built rental buildings, totalling an impressive 138 units located in Sandy Hill (“Capital Park”, in the community of Robinson Village). Our development project in Robinson Village reflects our dedication to providing quality housing options in a neighbourhood that offers a unique blend of charm and convenience.


The Q1 2023 rental market update showcases the dynamic nature of Ottawa’s rental landscape. As a prominent developer, TCU remains a trusted partner for both residents and investors. In Q2 2023, TCU is excited to deliver 199 residential units, contributing to Ottawa’s vibrant rental market and offering hundreds of renters a place they can proudly call home.

With our expertise and dedication, TCU is at the forefront of meeting the evolving needs of Ottawa’s residents.


*All statistics provided by “Q1 2023 Ottawa Rental Report”, Urbanation.