The Real Estate Investment Opportunity of Windsor Rentals

Downtown Windsor, Ontario

Table of Contents

Real estate investment in Windsor has become a magnet for property investment entrepreneurs and developers, drawn by the city’s burgeoning rental market.

With an estimated population of over 200,000 and an economic landscape fueled by strong automotive, medical, and academic industries, Windsor offers a rich tapestry of real estate investment opportunities for savvy investors.

Windsor’s Real Estate Advantages

Windsor’s real estate market presents an attractive option for investors seeking an affordable entry point with steady rental income.

Affordable Property

According to MPAC’s overview of the past decade, Windsor continues to maintain some of the most affordable properties among major Canadian cities.

The current April 2024 average house price in Windsor is substantially lower than the Toronto average and the forecasted 2024 averages for Ontario / Canada.

Windsor Avg, Apr 2024Toronto Avg Apr 2024Ontario 2024 ForecastCanada 2024 Forecast
$576,600 2$1,113,600 3$891,477 4$710,468 4

Not only is property investment in Windsor cheaper, but its property prices are rising: From 2013 to 2023 the number of homes in Windsor selling for below $500,000 has decreased from 99% to 57%.

In theory, an investor could buy a property for nearly half the price they’d pay in cities like Toronto or Vancouver, going on to profit from both rental income and increased property values over time.

High Rental Demand

Windsor has seen a big increase in people looking for rental homes in recent years. In 2023 rental demand hit an all-time high6 and rental vacancies reached a record low of 1.8%7. This shortage of vacancies has allowed landlords to raise their rental prices year on year.

Multiple factors have been driving this growth8, including:

  • More Jobs: Windsor’s economy is growing, bringing in more people looking for work and places to live.
  • More Workers: The easing of pandemic restrictions has also brought back international migrants and temporary residents, further increasing demand for rental units.
  • More Students: University of Windsor students returning to campus after the pandemic has also contributed to the rise in rental demand.

As of March 2024, Zumper reports that8 the median rent for all bedroom counts and property types in Windsor, ON is $1,599. This is -18% lower than the national average. This lower cost, along with the city’s growing economy, makes it an attractive place for renters which will further increase demand.

High Rental Returns

Windsor’s limited rental availability and increasingly strong demand for rentals means landlords can earn consistent income without fear of lengthy vacancies.

However, with CMHC predicting that property prices will keep rising through 2024-2025, investors should set their rental rates carefully to make the most profit while staying competitive — setting rents too high might deter potential tenants, while setting them too low could mean missing out on potential income as demand/rental rates rise.

By charging rents appropriate to the market demand and property value, savvy investors should stand to make good returns money while helping keep Windsor’s rental market strong.

Thriving Local Economy

Windsor’s economy is thriving, with technology, transportation, and automobile manufacture leading the charge. Businesses love Windsor’s location, skilled workforce, and open land, making it a magnet for investment

Beyond factories, Windsor boasts top employers like the University of Windsor and Windsor Regional Hospital, attracting talent and fostering innovation. Imagine — a thriving auto industry alongside a world-class university and a leading healthcare provider! This mix keeps the city’s energy high.

This stable environment and Windsor’s low unemployment rate of just 6.2%11 makes Windsor a great choice for real estate investors seeking steady rental income.

Continued Population Growth

Windsor’s thriving economy is fueled by a population growth of over 17,000 between 2020 and 202315. The University of Windsor continues to attract high-quality students to the city and investment is expected to stay robust16 as the city continues to recruit new people.

Thanks to this rising population property investors can expect expect a consistent source of rental revenue thanks to low vacancy rates, with a rising population paving the way for long-term prosperity in what is likely to be a stable market.

Ongoing Renovation Incentive Programs

Investment property in Windsor has a number of repair and incentive programs10 that make it simpler and less expensive for investors to upgrade existing homes and attract new tenants. These programs offer money for renovations and upgrades, such as energy-efficient upgrades, that may assist investors in increasing the value of their buildings and attracting higher-quality tenants.

Furthermore, the city provides many tax breaks to investors who choose to invest in certain districts or buildings, making Windsor investment properties appealing for those seeking to maximize their investment profits.

New Bylaw to Encourage More Rentals

In February 2023, the City of Windsor implemented a new bylaw9 introducing a pilot program for residential rental licensing. This program initially targets properties with four or fewer units in Wards 1 and 2 (areas around St. Clair College and the University of Windsor).

The bylaw aims to:

  • Enhance rental safety and standards: By requiring inspections, the city hoped to improve the overall quality of rental housing.
  • Strengthen enforcement: Licensing would allow the city to track rentals and take action against properties not meeting safety standards.
  • Increase transparency: Landlords would be required to provide basic information about their rentals.

If you’re thinking of adding an ADU (Accessory Dwelling Unit) to your property in Windsor, the new rental licensing bylaw may complicate your plans. It’s not all bad news though — a licensed ADU which meets safety standards could attract more tenants and command a higher rental rate.

The City of Windsor’s Planning, Building and Environment department should be able to assist you with any questions about the new bylaw.

Windsor’s Unique Position

For investment property in Ontario, Windsor’s position on the Canada-US border of Ontario brings a unique combination of advantages for real estate investors:

  • Strategic Distance from Major Cities: Tenants in Windsor are just a one-hour drive from Detroit’s industrial and cultural scenes; and a four-hour drive from Toronto — the financial centre of Canada. This proximity is a major selling point, attracting tenants seeking lower rental rates while maintaining easy access to the experiences and opportunities of larger cities.
  • Double the Demand, Limited Land: Windsor boasts a strong tenant pool of residents, students, and professionals from both Canada and the US, fuelling high demand for rentals and low vacancy rates. Plus, as a border city, Windsor also has limited developable land. This creates a scenario of stable rental income paired with potential for rising property values.
  • Government Funding and Support: Windsor benefits from investment support from both its own government12 and the government of Ontario14. A recent joint venture between Stellantis and LG Energy Solutions to establish a battery manufacturing plant in the region received over $5 billion in investment13.

The combination of affordability, strategic location, and a robust rental market makes Windsor an attractive investment opportunity for investors in the US and Canada.

Add Value and Ease with a Property Manager

While investing in Windsor rental properties can be lucrative, managing them can be time-consuming and challenging, especially for out-of-town investors. A property manager would handle the day-to-day managing of your properties, allowing you to focus on other aspects of your investment strategy (or simply enjoy passive income!).

Hiring a property management company local to Windsor would bring further benefits.

  • Local expertise allows for efficient sourcing of contractors when issues arise, bringing swifter resolution of tenant issues.
  • Specific knowledge of Windsor’s landlord-tenant laws would ensure you remain compliant, minimizing legal risks.

By entrusting your properties to capable managers, you can add value, ensure tenant satisfaction, and ultimately maximize your returns.


Windsor’s combination of affordability, high rental demand, and a growing economy makes it a promising market for real estate investors in 2024. Its strategic location and government incentives only sweeten the deal.

With careful planning and potentially the help of property managers, investors can capitalize on Windsor’s potential for long-term success.


Windsor Housing Market

  1. MPAC: Housing Inventory Insights (February 2024)
  2. Windsor Real Estate Listings, HPI Graphs (April 30, 2024)
  3. Toronto Real Estate Listings, HPI Graphs (April 30, 2024)
  4. Is Canada on the Cusp of a Hot Spring Housing Market? (April 12th, 2024)
  5. Windsor News Today: Number of homes under $500,000 disappearing (February 29th, 2024)
  6. CTV News: Availability hits record low and prices are up in Windsor (January 27th, 2023)
  7. CMHC: Rental Market Report, January 2023 (January 2023)
  8. Zumper: Average Rent in Windsor, ON (March 2024)
  9. Windsor Star: Windsor launches rental licensing pilot study (February 15th, 2023)

Windsor’s Economy and Development

  1. City of Windsor: Development Incentives (April 14, 2024)
  2. Labour market report, January 2024 (January 2024)
  3. Invest WindsorEssex: Why WindsorEssex
  4. Invest WindsorEssex: NextStar Energy EV Battery Manufacturing Plant
  5. Invest Ontario: Your Innovation Partner
  6. CTV News: Windsor’s Population, employment participation take huge leap (September 12th, 2023)
  7. The Globe and Mail: Still bearing scars of recessions past, Windsor is on the verge of a billion-dollar revitalization (September 12th, 2023)

Picture of Marla Coffin
Marla Coffin

Looking for a reliable Property Manager?

Marda Management is a full‑service property management company handling properties of all sizes. Let us find you a great tenant who will respect your space and pay rent!

Complementary Optimization Meeting

Submit your e-mail address below and we’ll reach out!