CITY · MARKET PROFILE

London, ON

VACANCY RATE

4.0%

CMHC Rental Market Survey Oct 2025 (pub. Dec 11, 2025), RMR data tables Ontario Table 1.1.1: private apartment vacancy rate, total

2BR RENT

$1,651

CMHC Rental Market Survey Oct 2025 (pub. Dec 11, 2025), RMR data tables Ontario Table 1.1.2: private apartment average rent, 2 bedroom

CAP RATE

4.63%

Range: 4.25–5.00%

CBRE Canada Cap Rates & Investment Insights Q3 2026 (pub. Oct 21, 2026), London Multifamily High-Rise Class A range; value = midpoint

FOUNDATION CAPITAL COMMENTARY

Foundation Capital's largest operating market. The headline 3.8% CMHC vacancy is the highest in 15 years and reflects new purpose-built supply meeting moderated immigration. In-place portfolio occupancy remains meaningfully tighter than the market average for well-managed assets. Cap rate band of 4.5–5.5% reflects recent transaction comps across stabilized purpose-built rental.

SOURCES

CMHC Rental Market Survey Oct 2025 (pub. Dec 11, 2025), RMR data tables Ontario Table 1.1.1: private apartment vacancy rate, total
CMHC Rental Market Survey Oct 2025 (pub. Dec 11, 2025), RMR data tables Ontario Table 1.1.2: private apartment average rent, 2 bedroom
CBRE Canada Cap Rates & Investment Insights Q3 2026 (pub. Oct 21, 2026), London Multifamily High-Rise Class A range; value = midpoint

Vacancy and rent reflect purpose-built rental apartments. Cap rate reflects multifamily transactions. This is for informational purposes only and does not constitute investment advice.

London, ON

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