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At IPS Property Management, we believe in keeping you informed with data-driven insights to help you track the performance of your investments. As we close out the first quarter of 2026, we have analyzed the rental trends in the Belleville region to provide a clear picture of how the market is evolving.
Disclaimer on Rent Values (Property-Type Variability)
The rental values shown for 2-bedroom, 3-bedroom, and 4-bedroom properties are market averages, not fixed prices. Actual rent can vary based on factors such as bathroom count, layout, condition, amenities, and location within Belleville. For example, a 4-bedroom home with 1 shared bathroom will usually rent at the lower end, while one with 2-3 additional washroom can achieve higher rent. This is important for investors, as individual property performance may differ from reported averages. Below are the average rent figures for all combined property types, including studio, 1 bedroom, 2 bedroom, 3 bedroom, and 4 bedroom+ units, along with a comparison table for each category.
Year-Over-Year Monthly Comparison (Q1 2026 vs. Q1 2025)
When comparing the start of this year to the same period in 2025, we see a significant shift in market momentum. While January started lower than the previous year, February and March have shown robust growth. Average rent figures for all combined property types:
January
Rent was $2,000 in 2026, compared to approximately $2,200 in 2025.
$2,000
February
We saw a sharp increase to $2,300 in 2026, significantly outperforming the $2,100 average from February 2025.
$2,300
March
The market remained strong at $2,250 in 2026, well above the $1,999 recorded in March 2025.
$2,250
Quarterly Performance Comparison (Q1 2026 vs. Q4 2025)
To better understand the immediate trajectory of the market, we compared the current quarter (January-March 2026) against the final quarter of last year (October-December 2025). The data indicates a strong recovery and growth phase following the typical year-end dip. Average rent figures for all combined property types:
Last Quarter (Q4 2025)
The market saw a low of $1,980 in October, gradually recovering through November ($2,051) and December ($2,086).
Current Quarter (Q1 2026)
The market started at $2,000 in January, climbed sharply to $2,300 in February, and eased slightly to $2,250 in March.
Current Rental Market Breakdown (Belleville, ON)
To give you a more granular view of the current landscape, here is the latest performance data by property type:
Property Type
Rent (Jan 2026)
Rent (Feb 2026)
Rent (Mar 2026)
Studio
$1,475
$1,600
$1,600
1 Bedroom
$1,650
$1,655
$1,695
2 Bedrooms
$2,000
$2,000
$2,000
3 Bedrooms
$2,600
$2,600
$2,500
4 Bedrooms
$2,733
$2,683
$2,233
Data Source - Zillow
Belleville Property Tax Outlook (2026)
The City of Belleville is currently finalizing its 2026 operating budget, which is projected to result in a property tax increase for residential properties in the range of 5% to 7%. While the municipal council initially aimed to keep the hike below a 5% threshold, current budgetary pressures from external agencies and essential service expansions have pushed the projected rates higher.
Water & Wastewater Utilities
Approved utility rates for 2026 will further increase monthly carrying costs. The city is prioritizing infrastructure lifecycle management through the following adjustments:
Rate Hikes
Water consumption rates will rise by 1.63%, while flat-rate monthly charges increase by 5%.
Wastewater Surcharge
A significant 7.6% increase brings the total surcharge rate to 111.9%.
Average Impact
The combined water/sewer bill is expected to rise by 5.36%, adding $7.26 per month per standard residential unit.
Market Summary
The Belleville rental market is showing high volatility but an overall upward trend. The significant jump in February and the sustained high values in March suggest a tightening rental market with increased demand. This is an excellent indicator for property owners, as the "floor" for rental prices has risen compared to the end of last year. We are continuously monitoring these trends to ensure your properties are positioned at the optimal price point for maximum ROI. If you have any questions regarding these figures or your specific portfolio, please feel free to reach out.
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