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What Will Rent Cost You To Live Near These Canadian Universities?

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Choosing which university to attend is a major life decision. Not that recently graduated high school students need more pressure, but the choice over which school you'll join will have a major impact on the rest of your life! From the education you'll receive to the friends you'll meet and experiences you'll have, those four years (or more) of life are vitally important to your career and personal development.

Beyond the personal and academic realm, your choice will have financial implications as well. Aside from tuition and student loans, the city and neighbourhood of the school will affect your level of student debt, so it's wise to prepare and do your research. RentSeeker.ca, one of Canada's largest apartment finders which has a dedicated Student Housing search providing students with the ability to search for student rental housing by university proximity -- has compiled a list showing what it will cost you to live near these 10 popular universities.

University of Toronto

University of Toronto is one of the largest and most respected Universities in Canada. With nearly 100 departments, the focus of study that occurs throughout the various buildings situated around Queens Park is extremely varied. There are tons of housing opportunities near UofT, though most are located in the downtown core of Toronto, meaning there are lots of options to choose from, especially if you have a few friends to live with.

Studio Apartments = $900- $1000
1 Bedroom Apartments = $1000 - $1500
2 Bedroom Apartments = $1500- $2500
3 Bedroom Apartments = $2500+

York University

Canada's third largest university has eleven faculties and numerous research centres. Home to the only Space engineering program in Canada and one of the top law programs in the country, York University is a multi disciplinary university that caters to a wide field of study. The main Keele campus feels like a mini city situated in the North end of Toronto, far removed from the downtown core. Surrounded by residential neighbourhoods, it covers over 450 hectares; making it the largest post-secondary campus in Canada. There are many housing opportunities near York University and flexible options, making rent very affordable, as long as you don't live near the Glendon campus. Overall, you can get much more space for your money than Ryerson or U of T.

Studio Apartments = $850 - $1200
1 Bedroom Apartments = $1200 - $1300
2 Bedroom Apartments = $1300 - $1500
3 Bedroom Apartments = $1500+

Ryerson University

Ryerson University may not be the biggest school in Ontario, but it is arguably located in the busiest intersection of Canada. The main campus includes multiple buildings surrounding Yonge-Dundas Square, and as you can imagine, rent isn't cheap. There is a huge overlap in price ranges, as living in downtown Toronto offers a wide number of living arrangements from brand new condos to 100 year old townhomes, so many options to choose from when looking for apartments near Ryerson University.

Studio Apartments = $1150 - $1200
1 Bedroom Apartments = $1200 - $1800
2 Bedroom Apartments = $1300 - $2500
3 Bedroom Apartments = $2500+

Carleton University

In the nation's capital, over 25 000 students call Carleton University home. Between the Rideau Canal and river, the main campus is close to residential and professional neigbourhoods. There are numerous rental options near Carleton University, and the rental housing market near Carleton is strong here with the high number of jobs that require short term government contracts.

Studio Apartments = $750 - $900
1 Bedroom Apartments = $850 - $1300
2 Bedroom Apartments = $975 - $1500
3 Bedroom Apartments = $1500+

McMaster University

Beside Hamilton's Royal Botanical Gardens is McMaster University, a heavily research focused university with six academic faculties and 25 000 students. The main campus neighbours two residential suburbs, Ainslie Wood and Westdale, providing students with a number of houses and apartments for rent near McMaster University, which can mean very affordable monthly fees for students who live together, but not a lot of studio apartment availability.

1 Bedroom Apartments = $775 - $1000
2 Bedroom Apartments = $900 - $1565
3 Bedroom Apartments = $1250+

University of Waterloo

Waterloo is known for their high tech programs and offers the largest post secondary co-op program in the world! Globally recognized as a leader of innovation, the University of Waterloo boosts an impressive employment rate for its students, particularly in the technology and science sectors. Situated near residential areas, there are many houses and apartments available for rent near the University of Waterloo, making it very affordable for students who can find roommates.

Studio Apartments = $700 - $1000
1 Bedroom Apartments = $725 - $1150
2 Bedroom Apartments = $950 - $1565
3 Bedroom Apartments = $1250+

McGill University

McGill University is one of the most prestigious universities in the country. Home to over 300 individual faculties, getting into this school isn't easy as it requires the highest average grade of any Canadian University in terms of admission requirements. For those students who do get in, getting to study in downtown Montreal is a huge benefit as the city is full of culture and nightlife. However, rent doesn't come cheap, but there are plenty of housing options near McGill, especially for those who want roommates, making living costs much more affordable.

Studio Apartments = $1000 - $1300
1 Bedroom Apartments = $1150 - $1300
2 Bedroom Apartments = $1500 - $2000
3 Bedroom Apartments = $2400+

The University of Western Ontario

Western University is one of the oldest universities in Canada. The Richard Ivey Business School was ranked #1 in the World for Global MBA programs by Bloomberg Business, but that doesn't mean the school is all business, as Western often ranks very high on 'most fun universities to attend' lists. Located in London, Ontario, there are lots of affordable rental options near Western University, making it a very popular school choice.

Studio Apartments = $700 - $1000
1 Bedroom Apartments = $750 - $1050
2 Bedroom Apartments = $1000 - $1300
3 Bedroom Apartments = $1300+

Housing will constitute a major portion of your expenses and looking for ways to mitigate costs is always a wise choice.

University of British Columbia

Whether you study at the Vancouver or Okanagan Valley locations, UBC has arguably the most beautiful campuses in Canada. Home to nearly 60 000 students, this school is involved in a massive number of research projects and annually receives praise for it's academic achievements. Due to the location of the campuses, rent is extremely expensive as housing costs in Vancouver are one of the highest in North America, and finding apartments for rent in Vancouver or multi-room accommodations can be very difficult.

1 Bedroom Apartments = $1500 +
2 Bedroom Apartments = $1800 +

University of King's College

Located in Halifax, Nova Scotia, University of Kings College was the first University established in English Canada, dating all the way back to 1789. This liberal arts university is rather small, but is known for its Foundation Year Program that is very popular amongst students who want to become writers. The Halifax housing market offers a real mix of old and new, meaning students can find great deals on apartments near King's University if they happen to get lucky or know the right person!

Bachelor Apartments = $990 -$1000
1 Bedroom Apartments = $650 - $1195
2 Bedroom Apartments = $700 - $1740
3 Bedroom Apartments = $1350 +

If you are worried that your school of choice is out of your price range, there are ways to cut down on expenditures. Housing will constitute a major portion of your expenses and looking for ways to mitigate costs is always a wise choice. Living with roommates is a great way to do this -- for example, by renting a three bedroom apartment and dividing the cost among three students, there's a good chance you'll save quite a bit of money -- which you can in-turn invest for your future with the great information you learn in economics class!

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