Along the Grand River, Cambridge Ontario is a city known for its beautiful sights, rich culture and thriving business landscape. As part of the famous Technology Triangle, the Cambridge real estate market is booming for working-class Canadians and entrepreneurs alike, thus making it a prime location to begin investing in real estate and buy homes for sale in Cambridge.
This city is home to a population of approximately 130,000 Canadian residents and has an economy built to provide entertainment, accommodations, and services to many more year-round as the city benefits from the strong local tourism and connected business mindset that drives the Waterloo Region. As well, it is one of the cities in Ontario primed for expansion over the next decade as newcomers and the growing domestic population all begin to search for housing.
So, if you are interested in hearing about how Cambridge may be the ideal spot for your future real estate investments, keep reading and let's explore how this humble city is secretly home to rich, extraordinary investment potential.
Culture and Creativity
Cambridge is a city well-rooted in its culture and history. Prior to the city's establishment in 1973, the area was once comprised of the municipalities of Galt, Preston, Hespeler and Blair as well as surrounding townships. While these towns are now united under one name, they each had their own unique culture and community, a fact which is beautifully represented in modern-day Cambridge.
The city is also home to various cultural events that help make the area come to life year-round, providing both entertainment for the locals and tourism opportunities for those who wish to take part. Notably, the Rock the Mill music festivals and the Mill Race Festival in downtown Galt as well as the Cambridge Highland Games each July are events that bring people out in large numbers to engage with the community.
Understanding the Cambridge Real Estate Market
Now, before you can begin exploring homes for sale in Cambridge, it is important to get a clear picture of the Cambridge real estate market:
-
Relatively Affordable Housing Prices
The average purchase price for a detached home in Cambridge is estimated at over $911,000. While this price may sound steep when compared to cheaper markets, you need to remember that Cambridge is located within 100 kilometres of Toronto and has incredibly affordable housing prices when compared to its neighbour.
-
Cash Flowing Rentals
In the meantime, the average rent in Cambridge for a two-bedroom unit is approximately $2300. That leaves plenty of room to not only pay your property expenses but turn over a reasonable amount of cash flow on worthwhile investment properties as well.
-
Low Vacancy and Turnover
Vacancy rates and turnover in Cambridge are currently quite low, which is very advantageous for investors looking to build a reliable and sustainable form of cash flow through real estate. Throughout 2023, the average vacancy rate in Cambridge sat close to two per cent, just below the average recommended vacancy rate in Ontario in order to provide enough room for people to move and new residents to find housing easily.
While this does spell difficulty for renters who want to find new homes, it does drive down turnover, making the cash flow much more reliable for investors who buy rental properties.
-
Leveraging the KWC and Cambridge Real Estate to Invest Further
The renowned "Technology Triangle" that includes Cambridge, Waterloo, and Kitchener includes Cambridge. Being one of the most directly connected communities in Ontario, this area is affectionately known as the "KWC." As such, one of the best things investors can do when examining the Cambridge real estate market is to accurately value and plan around this interconnectivity to increase the value of their own properties.
For instance, because many Cambridge residents work in Kitchener or Waterloo and vice versa, residences close to public transportation hubs in adjacent areas are highly sought after by commuters and families.
By this same logic, Kitchener, Waterloo, and Cambridge are often interchangeable markets, with investors scouring all three for properties as opposed to simply one due to how closely connected they all are.
-
Leveraging the Tourism Industry in the KWC and Cambridge Real Estate
Because Cambridge is situated in an area with many popular tourist destinations and events, it is a great spot to make investments in the tourism industry.
First off, Cambridge hosts a number of well-liked regional tourist occasions, like the Mill Race Festival and Rock the Mill. Each of these brings thousands of tourists to the city every year. Beyond that, there's the highly anticipated Cambridge Highland Games in July.
But Cambridge gains from its low-key domestic tourist events in more ways than one. In fact, because of its laid-back vibe and accessibility to Kitchener and Waterloo tourism events and festivities, Cambridge is a well-liked destination for travellers seeking calm evenings away from the bustle.
To wrap up:
The true advantage of cities such as these is the ability for them to use each other's resources and infrastructure in this way. As an investor or home buyer in Cambridge, all you need to do is look for the openings where the cities rely on each other and seek to fill that need in order to leverage the situation in your favour.
