Here's where to find a more affordable rental outside of Toronto

Written by Romana King, an award-winning expert in personal finance and real estate, and the Director of Content at Zolo.

Even with all of the rent drops Toronto has been seeing over the past year, rentals in the city are still pretty pricey. But looking outside of Toronto, there are quite a few more affordable options, whether it’s a one- or two- or three-bedroom rental.

Renters who are looking to save a bit of money and are not constrained with city living can find deals on rentals below Toronto’s average market rent. Currently, Toronto’s average one-bedroom costs $1,845 per month, and two-bedrooms go for an average of $2,453.

Below is a list of nearby cities offering one-bedroom rentals below Toronto’s one-bedroom average as well as both two- and three-bedroom rentals below Toronto’s two-bedroom average.

To calculate potential savings, the annual savings listed under each city is based on the difference between Toronto’s average rent and the city’s average rent, multiplied by 12 months.

If you’re looking for a more affordable rental option and are willing to relocate outside of Toronto, consider any one of these cities for your next move.

Best options for one-bedroom rentals outside Toronto

• Georgina
  • Average monthly rent $1,425
  • Annual Savings: $5,040
• King
  • Average monthly rent $1,750
  • Annual Savings: $1,140
• Whitchurch-Stouffville
  • Average monthly rent $1,833
    Annual Savings: $144
• Durham Region
  • Average monthly rent $1,755
  • Annual Savings: $1,080
• Clarington
  • Average monthly rent $1,626
  • Annual Savings: $2,628
• Oshawa
  • Average monthly rent $1,363
  • Annual Savings: $5,784
• Dufferin County
  • Average monthly rent $1,350
  • Annual Savings: $5,940
• New Tecumseth
  • Average monthly rent $1,725
  • Annual Savings: $1,440
• Bradford West Gwillimbury
  • Average monthly rent $1,700
  • Annual Savings: $1,740

Best options for two-bedrooms

• Halton Hills
  • Average monthly rent $2,250
  • Annual Savings: $2,436
• Milton
  • Average monthly rent $2,200
  • Annual Savings: $3,036
• Peel Region
  • Average monthly rent $2,420
  • Annual Savings: $396
• Brampton
  • Average monthly rent $2,227
  • Annual Savings: $2,712
• Mississauga
  • Average monthly rent $2,382
  • Annual Savings: $852
• York Region
  • Average monthly rent $2,326
  • Annual Savings: $1,524
• King
  • Average monthly rent $2,200
  • Annual Savings: $3,036
• Markham
  • Average monthly rent $2,365
  • Annual Savings: $1,056
• Newmarket
  • Average monthly rent $1,983
  • Annual Savings: $5,640
• Richmond Hill
  • Average monthly rent $2,402
  • Annual Savings: $612
• Vaughan
  • Average monthly rent $2,286
  • Annual Savings: $2,004
• Durham Region
  • Average monthly rent $2,106
  • Annual Savings: $4,164
• Ajax
  • Average monthly rent $2,008
  • Annual Savings: $5,340
• Clarington
  • Average monthly rent $1,875
  • Annual Savings: $6,936
• Pickering
  • Average monthly rent $2,288
  • Annual Savings: $1,980
• Whitby
  • Average monthly rent $2,138
  • Annual Savings: $3,780
• Simcoe County
  • Average monthly rent $2,350
  • Annual Savings: $1,236
• Innisfil
  • Average monthly rent $2,444
  • Annual Savings: $108
• New Tecumseth
  • Average monthly rent $2,086
  • Annual Savings: $4,404

• See also:
  • Here’s what $1 million homes look like in every GTA city
  • Toronto Regional Real Estate Board will stop using term “master bedroom”

Best options for three-bedrooms

• New Tecumseth
  • Average monthly rent $2,000
  • Annual Savings: $5,436
• Pickering
  • Average monthly rent $2,340
  • Annual Savings: $1,356
• Ajax
  • Average monthly rent $1,950
  • Annual Savings: $6,036
• Durham Region
  • Average monthly rent $1,915
  • Annual Savings: $6,444
• Brampton
  • Average monthly rent $2,439
  • Annual Savings: $168
• Milton
  • Average monthly rent $2,438
  • Annual Savings: $180