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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 third quarter of 2026, we have reviewed the latest rental trends in the Belleville region to provide a clear picture of how the market has evolved.
Disclaimer on Rent Values (Property-Type Variability)
The Belleville rental market recorded steady rent growth throughout Q3 2026. By September 2026, the average asking rent across all property types reached $2,300/month, representing a $150 (+7.0%) increase year-over-year compared with September 2025. Compared with August 2026, September rents increased by $100 (+4.5%), showing stronger rental pricing toward the end of the quarter. The Q3 2026 average asking rent was $2,200/month, compared with approximately $2,078/month in Q3 2025, representing an increase of approximately $122 (+5.9%) year-over-year.
Rental Rates by Property Size
Rental prices in Belleville vary significantly depending on the number of bedrooms and property size. The Q3 2026 data provides a more detailed view of asking rents across studios, one-bedroom, two-bedroom, three-bedroom and four-bedroom-plus properties.
Studio Properties
The average asking rent for a studio is $1,395/month. Monthly Q3 2026 data is not consistently available for this property type, so the average figure is used rather than a year-over-year monthly comparison.
1-Bedroom Properties
One-bedroom properties recorded an increase in asking rents compared with the same period in 2025. By September 2026, the average asking rent for a one-bedroom property reached $1,800/month, an increase of $151 (9.2%) compared with September 2025.
2-Bedroom Properties
Two-bedroom properties continued to command higher asking rents throughout Q3 2026 compared with the same period in 2025. The average rent for a two-bedroom property is $2,100/month. By September 2026, the asking rent reached $2,195/month, an increase of $295 (15.5%) compared with September 2025.
3-Bedroom Properties
Three-bedroom properties remained among the higher-priced rental categories in Belleville. The average rent for a three-bedroom property is $2,470/month. Although September 2026 was unchanged from September 2025, asking rents were higher year-over-year in July and August.
4-Bedroom-Plus Properties
Four-bedroom-plus properties showed the largest asking-rent increases during Q3 2026. The average rent for a four-bedroom-plus property is $1,700/month. However, the monthly Q3 figures were substantially higher, particularly in July and August, highlighting the significant variability within this property category.
Year-Over-Year Monthly Comparison (Q3 2026 vs. Q3 2025)
The monthly data shows that average rents remained above the previous year's levels throughout Q3. The gap increased from $100 in July to $150 in September. Q3 ended with the highest monthly average of the quarter at $2,300 in September 2026.
Quarter-Over-Quarter Comparison
Q3 2026 recorded an average rent of $2,200/month, compared with $2,165 in Q2 and $2,183 in Q1.
After a slight decline from Q1 to Q2, average rents increased by $35 (+1.6%) in Q3 compared with Q2. Q3 also finished $17 (+0.8%) above the Q1 average.
The quarterly trend was: Q1 2026: $2,183 → Q2 2026: $2,165 → Q3 2026: $2,200
Market Commentary
Average asking rents increased throughout Q3, moving from $2,100 in July to $2,300 in September. Year-over-year rental prices were higher in every month of Q3, with the largest increase recorded in September. The Q3 average was $35 higher than Q2, indicating a modest quarter-over-quarter recovery after the slight decline recorded in Q2. Rental pricing continues to vary depending on property type, location, bedroom count, condition, renovations, amenities, parking and utility inclusions.
Legislative Update: Ontario Rental Rules Effective September 21, 2026
New changes to Ontario’s Residential Tenancies Act took effect on September 21, 2026, and the Landlord and Tenant Board (LTB) has updated its forms and procedures to match.
N12 Notices: Landlords who give at least 120 days’ notice for their own use no longer have to pay compensation or offer another unit. This does not apply to purchaser’s own use notices. The landlord must normally move in within 60 days of the termination date, or a presumption of bad faith may apply.
N13 Notices: Tenants keep the right to return after renovations or repairs. Landlords must keep them updated on the completion date and, for work finished on or after September 21, 2026, give 60 days’ notice before they move back in.
N4 Notices: The notice period for non-payment of rent drops from 14 days to 7 days. Tenants raising other issues at a hearing must, in applicable cases, first pay at least half of the claimed arrears.
Persistent Late Payment: Rent received more than 7 days late at least 3 times within 6 months may now count as persistent late payment.
Updated LTB Forms: Several forms, including the N12, N13, L1 and T5, have been updated. Old versions will not be accepted after November 30, 2026.
2027 Rent Increase Guideline: The guideline is set at 1.9% for most rent-controlled units, with 90 days’ written notice and 12 months between increases still required. Many units first occupied after November 15, 2018 may be exempt.
Penalties: Fines under the Act can reach $100,000 for individuals and $500,000 for corporations, so all notices and tenancy practices should follow current rules.
Market Outlook
Q3 2026 showed a gradual increase in rental prices across the Belleville market, with the average asking rent moving from $2,100 in July to $2,200 in August and $2,300 in September. The Q3 average of $2,200 was higher than both the Q2 average of $2,165 and the Q1 average of $2,183. At the same time, the Q3 2026 average was approximately 5.9% higher than Q3 2025. For landlords, continuing to monitor comparable listings, tenant demand, property condition and operating costs can help provide a more accurate picture of rental pricing for individual properties.
The rental values presented in this report are based on publicly advertised asking rents and available market data for Q3 2026. Actual rental values may vary depending on property type, bedroom count, location, square footage, age, condition, renovations, amenities, parking, utility inclusions, lease terms and prevailing market conditions. This report is intended for general market information only and should not be considered a formal rental appraisal.
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