Rents in London fell for the fourth consecutive month in September, reinforcing the view that local rents have stabilized in 2025 after years of rapid growth.

But a new report underscores how unaffordable housing remains for many: a Londoner would need to earn nearly double Ontario’s minimum wage, which just went up to $17.60 an hour this month, to keep costs at what’s considered an affordable rate.

The average asking rent for a one-bedroom unit in September was $1,714, down 5.2 per cent compared to the same month last year, while two-bedroom apartments went for an average of $2,102 or 5.7 per cent lower than a year ago, the latest snapshot of the market by Rentals.ca shows.

At that price for a one-bedroom, a worker in London would need to earn $32.96 an hour, nearly 87 per cent higher

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