Toronto Rental Trends
This month we take a look at the state of the rental market in Greater Toronto based on October’s figures. October rental rates in Toronto increased ever-so-slightly as predicted in our September post and the forecast for October predicts some additional upward pressure on rates.
Toronto Furnished vs. Unfurnished Rentals
The average Toronto rent for an unfurnished one bedroom apartment in October remained essentially the same as September at $1,845 while the average cost of a furnished apartment in Toronto slipped slightly from September to $2,166.
Highest vs. Cheapest Rent in Greater Toronto Area (GTA)
Mississauga continues to have the lowest average rent in the GTA for a 1 bedroom unfurnished unit at $1,703 (up slightly from September’s 1,687) while the highest average rent in the Toronto area for a similar home in September was in Downtown Toronto at $2,055 (down slightly from September’s $2,061).
Here is the full report for you to save and reshare with ease:
Remember though, despite paying premium rates to live in Toronto’s downtown core, tenants are saving in other ways, primarily, on car-related expenses (vehicle, insurance, fuel and repairs). In addition, time is money, and living near where you work pays mental health dividends in terms of reduced commuting times and associated stress.
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For more rental stats, read our previous post, Toronto Rental Stats – September 2019 Snapshot.
Want to compare? Check out the latest Vancouver Rental Stats – October 2019 Snapshot.
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