Ontario

London Multifamily Market Report 2025 — Prices, Cap Rates & Trends

In the London multifamily market, the median recorded sale price is $2,164,000, across 198 recorded transactions, between 2021-09-07 to 2025-12-24.

Analyze a deal

$2.2M

Median sale price

198

Recorded transactions

-25.0%

YoY change in median

Price distribution

Where London multifamily sale prices sat across 198 recorded transactions.

Median sale price by year

5 of 5 years in the window carried enough recorded sales to plot a median for London multifamily.

Recorded transaction volume by year

Year	Recorded transactions
2021	5
2022	37
2023	51
2024	45
2025	60

This market vs. Ontario overall

Metric	London	Ontario
Median sale price	$2,164,000	$2,194,500
25th percentile	$1,150,000	$1,325,000
75th percentile	$6,189,324	$4,750,000
Recorded transactions	198	29,749
Year-over-year change	-25.0%	-5.5%

Asset classes in London

Asset class	Median price	Transactions
Industrial	$2.7M	115
Land	$3.3M	94
Multifamily	$2.2M	198
Office	$2.4M	71
Other	$1.8M	188
Retail	$2.1M	139

Multifamily across Ontario markets

Market	Median price	Transactions
Barrie	$1.7M	94
Belleville	$2.1M	24
Brantford	$2.1M	60
Greater Sudbury	$1.5M	71
Guelph	$2.5M	75
Hamilton	$1.8M	295
Kingston	$1.8M	104
Kitchener-Cambridge-Waterloo	$2.5M	383
London	$2.2M	198
Oshawa	$2.1M	150
Ottawa	$2.1M	467
Peterborough	$2.6M	35
St. Catharines-Niagara	$1.7M	174
Thunder Bay	$1.3M	29
Toronto	$2.9M	1,462
Windsor	$1.8M	107

Rental market context

The CMHC Rental Market Survey reports a 4.0% purpose-built rental vacancy rate for London (2025). This is residential rental context, not a commercial metric.

Recent recorded sales

Month	Area	Price band	Type
2025-12	London, ON	$1.5M–$2.0M	Multifamily
2025-12	London, ON	$1.5M–$2.0M	Multifamily
2025-12	London, ON	$1.5M–$2.0M	Multifamily

Municipality, month and price band only.

Common questions

What is the median multifamily sale price in London?

$2,164,000, across 198 recorded transactions in our dataset.

Are London multifamily prices rising or falling?

The median recorded sale price changed -25.0% year over year in the most recent full comparison.

Methodology

This page draws on 198 recorded commercial transactions in London between 2021-09-07 and 2025-12-24, from the EVALUAITE Market Intelligence dataset. A city and asset class is published only once it carries at least 50 recorded transactions.

Too few of these sales reported a cap rate to publish a range, so none is shown. All 5 years in the window carried enough sales to plot a median. The year-over-year comparison had enough sales on both sides to compute. CMHC rental context is available for this market.

Prepared by the EVALUAITE Market Intelligence team.