Toronto rental prices have returned to an upward trend after stabilizing in September. If you are planning to move or renew your lease, it is advisable to check the market rates for October in advance.
- 1-Bedroom Median Asking Rent: $2,250/month (Up from $2,150 in September, +2.31 TP3T year-over-year)
- Median 2-bedroom: $2,750 per month (Up from $2,600 in September, +3.81 TP3T year-over-year)
- Median 3-bedroom: $3,500 per month (Up from $3,380 in September)
- Toronto is considered the second most expensive rental market in Canada, following Vancouver.
- Since utilities, parking, internet, and tenant insurance are often separate from the rent, please check the total housing costs before signing a contract.
While there are more property options than before, downtown and areas near subway stations remain on the expensive side. It would be helpful to compare basement units or those in the outskirts, such as Scarborough, North York, and Etobicoke.
Source: Moving2Canada https://moving2canada.com/planning/destination-guides/toronto/how-much-is-rent-in-toronto/
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