November 2020 Toronto Rent Report

As the winter approaches, Toronto is experiencing a second wave of the pandemic and a swath of restrictions intended to curb its spread. With this in mind, we take a closer look at the reported average rent prices for the month of November across the Greater Toronto Area. Based on data gathered from numerous listing websites and our own platform, our rent reports seek to identify and share key market data and trends, to help inform and educate landlords and tenants alike.

Jump to the following Toronto Rent Report sections:

Complete November 2020 Toronto Rent Report: Download Here

Here we take a look at the average rent of a 1 bedroom, unfurnished apartment over a 6-month period. The drop in rental rates seems to have slowed after months of downward pressure.

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Month-to-Month Rent Change

Below, we show the percentage change in average rent from October to November’s figures. While volatility persists in the furnished rental market, it appears to have stabilized for unfurnished rentals in the GTA. Etobicoke saw a 6.9% increase in the furnished rental category while Brampton experienced the biggest drop – a 5.84% decline, though that was countered slightly by a 2.03% increase in rental rates for unfurnished properties. Markham saw the next biggest decline – a 4.92% drop in furnished rental rates.

Toronto Furnished vs. Unfurnished Averages

What is the average rent in Toronto? The average rent in Toronto for an unfurnished one-bedroom apartment is $1,726 down slightly from October’s $1,737. The average rent in Toronto of a furnished apartment rose to $1,770 from October’s $1,748.

Neighbourhood Breakdown

Brampton continues to have the lowest average rent in the GTA for an unfurnished, 1 bedroom unit at $1,510, climbing from October’s $1,480. While the highest average 1 bedroom rent in the GTA for a similar home in November was, predictably, in Downtown Toronto at $1,993, down slightly again from October’s $2,000. 

>> Recommended Reading: October 2020 Toronto Rent Report

To assist you further in your rental decision, here is a breakdown of rental averages across other GTA neighbourhoods. Comparing 1, 2, and 3 bedroom rates for both unfurnished and furnished listings across each neighbourhood.

Gain comprehensive insights about your listings with the new Landlord listing Dashboard. Sign in to unlock live insights – find out the average rent for a comparable property, number of views your listing received and more!

Average Rent in Canada

The average rent in Toronto continues to be the highest in Canada in a city by city comparison – $1,726, based on 1 bedroom unfurnished rates.

Vancouver comes in second, with the average reported rent of $1,674 as of November. There are many similarities and a few key differences between the two most popular and expensive cities in Canada. Read our article on the cost of living comparison between Vancouver and Toronto to get a better understanding of both cities.

Downloadable Resources

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Save the complete November 2020 Rent Report package for easy sharing and reference.

Complete November 2020 Toronto Rent Report: Download Here

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Subscribe to receive these monthly updates on the Vancouver rental market. Discover last month’s Rent Reports below:

November 2021 Vancouver Rent Report
November 2021 Toronto Rent Report
November 2021 Montreal Rent Report

COVID-19 Resources 

For information regarding Coronavirus (COVID-19) and landlords and tenants, refer to our comprehensive resource posts. They include information on the various federal and provincial assistance initiatives available to help support landlords (small business relief) and tenants (rent relief):

Kristina Ikavalko

Kristina Ikavalko

Creative Content Creator at

Creative Content Creator for, based in Vancouver. [Read Full Bio]

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