LivingReal Estate5 Reasons Why Sault Ste. Marie is the Best City for Renters

June 21, 2021by admin0
https://www.cpmproperties.ca/wp-content/uploads/2021/06/Sault-Ste-Marie-from-Above_11-1280x851.jpeg

The global pandemic has caused Canadians across the country to rethink their priorities. While a major urban centre such as the City of Toronto was once the it destination for young professionals and even young families, survey after survey has revealed that Canadians today want more space, better affordability, and more access to nature. For renters looking for a safe, modern, and budget-friendly city where they can enjoy work-life balance, Sault Ste. Marie, Ontario, fits the bill and so much more.

 

Sault Ste. Marie has an affordable cost of living…

Throughout Canada, the pandemic has put upward pressure on living expenses, including costs associated with food, gasoline, travel, and housing. At a time of vast economic uncertainty, renters can look to Sault Ste. Marie for continual affordability.

One major aspect of cost of living is housing. As of March 2021, the average home price in Sault Ste. Marie was $257,955. That’s compared to $385,034 in Sudbury, $291,204 in Thunder Bay, and $1,097,565 in the GTA. Another aspect to consider is the cost of utilities and Sault Ste. Marie is unique in that it generates most of its electricity from clean, renewable sources like solar, wind, and hydroelectric, resulting in decreased costs for water and sewage for the city’s inhabitants.

 

…and it’s one of the least expensive cities for renters

Historically, Sault Ste. Marie has been one of the least expensive Ontario cities for renters. On average, rent in Sault Ste. Marie is nearly 55 percent lower than it is in Toronto, according to cost of living calculations by Numbeo. And according to data from Zumper, which is updated weekly, the average price to rent a studio apartment in Sault Ste. Marie is $830, the average rent for a one-bedroom apartment is $900, and the average rent for a two-bedroom apartment is $1,180. These figures are significantly lower than the comparable rents in many other cities in Ontario.

 

Sault Ste. Marie has a stable and expanding job sector…

In spite of the effects of the pandemic, Sault Ste. Marie has maintained a low unemployment rate of just over 5 percent. Sault’s rate is much lower than Ontario’s unemployment rate, which is just over 9 percent. Moreover, many employment sectors within Sault Ste. Marie are expanding, including health care, information technology, finance, engineering, and manufacturing. Growth in these areas will stimulate the city’s economy and diversify the job market offerings in the coming years.

Additionally, several government-run vocations provide stable employment within the city. Such vocations include the provincial Ontario Forest Research Institute (OFRI), the federal Great Lakes Forestry Centre (GLFC), and the Ministry of Natural Resources.

 

…and offers plenty of supports for small businesses and entrepreneurs

If you have a small business or start-up, Sault Ste. Marie offers a range of unique and advantageous benefits. The city offers low operating costs, affordable land and rent, and has recently been designated as a foreign trading zone, which allows for exemptions from duties, tariffs, and taxes for businesses that import and export goods to the US and other global markets. Sault Ste. Marie is also home to the Sault Ste. Marie Innovation Centre, the Millworks Centre for Entrepreneurship, and StartUP Sault.

 

And when you’re not hard at work, there’s so much to see and do

Sault Ste. Marie is surrounded by epic nature, including three of the Great Lakes, the Boreal forest, the St. Lawrence forest, and the Canadian Shield mountains. Because of its proximity to these famed natural attractions, Sault Ste. Marie has been featured on Expedia’s rundown of the 34 most breathtaking cities in North America.

Some attractions that the city is known for include the Parks Canada Canal, Chippewa Falls, the steep cliffs off of Alona Bay, and the Agawa Canyon. Sault Ste. Marie is also home to hundreds of campsites, provincial parks, fishing spots, rock climbing spots, hiking, biking, and skiing trails, and plenty of open water to accommodate a variety of water sports, such as canoeing and kayaking.

 

Are you looking to rent an apartment in Sault Ste. Marie, Niagara, Sudbury, or Hamilton?

If you’re interested in a redefined rental experience, we offer renovated rental apartments in sought-after neighbourhoods in Sault Ste. Marie, Niagara, Sudbury, and Hamilton. From top-of-the-line finishings to energy-efficient appliances to digital amenities, our units have been upgraded to reflect the unique values of today’s tenants. Get in touch today to find out more about condo-style apartment living with CPM Properties.

 

Lead photo via Northern Ontario Travel

Leave a Reply

Your email address will not be published. Required fields are marked *