Average Toronto one-bedroom rent price soars past $1,900

Nov 3 2021, 7:41 pm

The average price for a one-bedroom rental in Toronto has now soared above $1,900, according to a new report from Liv.Rent.

As of the beginning of November, the average unfurnished one-bedroom in Toronto will cost renters a whopping $1,909 — the highest price in all of the GTA. Toronto’s price sits $174 higher than the new GTA-wide average of $1,735.

toronto one bedroom price

Liv.Rent

This is the first time this year that the GTA average has surpassed $1,700, and is up noticeably from October’s $1,693 average.

Depending on the area, the change in rent prices month-over-month varied quite a bit. In Etobicoke, for example, unfurnished one-bedrooms actually dropped in price by about 2.5%. Meanwhile in Scarborough, they jumped up 7.3% in price — the largest increase seen this month. Brampton, which has the cheapest one-bedroom rent out of all the areas studied at $1,514, saw a 1.9% increase.

toronto one bedroom price

Liv.Rent

It’s well known that furnished rentals tend to cost more to rent than their unfurnished counterparts, but as of this month, the difference is barely there. In fact, unfurnished one-bedrooms in the GTA were a mere $11 cheaper on average than furnished units.

toronto one bedroom price

Liv.Rent

Liv.Rent

Interestingly, furnished one-bedroom units in Scarborough, Mississauga, Brampton, and Vaughan-Richmond Hill all had lower average rents than unfurnished one-bedrooms in those cities.

Laura HanrahanLaura Hanrahan

+ Real Estate
+ Urbanized
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