December 2020 Toronto Rent Report

As the winter approaches, Toronto is experiencing an intense 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 December across the Greater Toronto Area. Based on data gathered from numerous listing websites and our own liv.rent 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 December 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 from July to December. The drop in rental rates seems to have slowed though downward pressure persists.

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Month-to-Month Rent Change

Below, we show the percentage change in average rent from November to December’s figures. The volatility of earlier months seems to have subsided for rentals in the GTA. North York saw an increase of 5.55% in the furnished rental category while Vaughan/Richmond Hill experienced the biggest drop – a 6.86% decline – in furnished rentals. Brampton saw it’s unfurnished rentals slide almost as much – a 6.76% decrease.

Toronto Furnished vs. Unfurnished Averages

What is the average rent in Toronto? The average rent in Toronto for an unfurnished one-bedroom apartment is $1,715 down slightly from November’s $1,726. The average rent in Toronto of a furnished apartment declined too, to $1,742 from November’s $1,770.

Neighbourhood Breakdown

Brampton continues to have the lowest average rent in the GTA for an unfurnished, 1 bedroom unit at $1,380, dropping from November’s $1,510. While the highest average 1 bedroom rent in the GTA for a similar home in December was, predictably, in Downtown Toronto at $1,930, down again from November’s $1,993. 

>> Recommended Reading: November 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 liv.rent 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 – $1,715, down from last month’s $1,726, based on 1 bedroom unfurnished rates.

Vancouver comes in second, with the average reported rent of $1,687 as of December. 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 December 2020 Rent Report package for easy sharing and reference.

Complete December 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:

March 2021 Vancouver Rent Report
March 2021 Toronto Rent Report
March 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 liv.rent

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

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