Cambridge is becoming an increasingly attractive market for rental property investments, with average monthly rent for 2-bedroom units rising by 7% to $2,423 over the past year. The city is experiencing robust population growth, projected to increase by 17% to 176,000 by 2031, driven by a surge in enrollment at local post-secondary institutions and significant migration to the region.
The local economy is thriving, supported by a strong labor force and over 10,000 business establishments. Cambridge's manufacturing sector is a key contributor, with over 500 businesses, including Toyota Motor Manufacturing Canada, which employs more than 8,000 people.
Strategically located near major highways, Cambridge offers convenient access to nearby cities, including Kitchener, Waterloo, Guelph, and Toronto. The city also boasts an extensive network of parks, trails, and conservation areas, providing residents and visitors with ample opportunities to enjoy nature. Cambridge's educational landscape is expansive, with numerous public schools, college campuses, and proximity to major universities, ensuring access to quality education.