Ontario

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

In the Ottawa multifamily market, the median recorded sale price is $2,125,000, across 467 recorded transactions, between 2021-09-10 to 2025-12-23.

Analyze a deal

$2.1M

Median sale price

467

Recorded transactions

14.6%

YoY change in median

Price distribution

Where Ottawa multifamily sale prices sat across 467 recorded transactions.

Median sale price by year

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

Recorded transaction volume by year

Year	Recorded transactions
2021	17
2022	103
2023	79
2024	128
2025	140

This market vs. Ontario overall

Metric	Ottawa	Ontario
Median sale price	$2,125,000	$2,194,500
25th percentile	$1,308,502	$1,325,000
75th percentile	$5,317,500	$4,750,000
Recorded transactions	467	29,749
Year-over-year change	+14.6%	-5.5%

Asset classes in Ottawa

Asset class	Median price	Transactions
Industrial	$3.4M	163
Land	$3.5M	166
Multifamily	$2.1M	467
Office	$4.7M	197
Other	$2.5M	310
Retail	$2.6M	199

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 3.8% purpose-built rental vacancy rate for Ottawa-Gatineau (Qué. part) (2025). This is residential rental context, not a commercial metric.

Recent recorded sales

Month	Area	Price band	Type
2025-12	Ottawa, ON	$3.0M–$3.5M	Multifamily
2025-12	Ottawa, ON	$10M–$11M	Multifamily
2025-12	Ottawa, ON	$2.5M–$3.0M	Multifamily

Municipality, month and price band only.

Common questions

What is the median multifamily sale price in Ottawa?

$2,125,000, across 467 recorded transactions in our dataset.

Are Ottawa multifamily prices rising or falling?

The median recorded sale price changed +14.6% year over year in the most recent full comparison.

Methodology

This page draws on 467 recorded commercial transactions in Ottawa between 2021-09-10 and 2025-12-23, 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.