September 2021 Toronto Rent Report

September rental rates are slightly swinging upwards this month. After a lazy summer of not much change, a small upward trend is now emerging. However, if we wind back the clock, we’ll see that rental rates are pretty much where they were the same time last year for Toronto.

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Let’s take a look now at the latest data and see which neighbourhoods are experiencing the most change in furnished and unfurnished rental rates.

Jump to the following Toronto Rent Report sections:

Toronto rent trends

The roller coaster that is Toronto’s rental averages is now on a bit of a peak as it’s returned to the $1,700 mark for a one-bedroom unfurnished apartment. We saw this same price back in May.

After prices slumped in late spring and summer, they could be making a comeback as demand in Toronto has been high.

Month-to-month rent change

This chart breaks down the percentage change in rent across all central Toronto neighbourhoods from August 2021 to September 2021.

Unfurnished Toronto rent trends

Unfurnished rent hardly moved month over month, but in more affordable neighbourhoods like Brampton (+10.10%) and Vaughan-Richmond Hill (4.51%,) it did go up.

Furnished Toronto rent trends

Furnished rent climbed in most neighbourhoods, most noticeably in North York (+15.80) and Brampton (+9.83%.) There were some neighbourhoods like Etobicoke and Markham where it had a slight dip but is more or less holding since last month.

Toronto furnished vs unfurnished averages

Continuing to monitor the close price difference in Toronto rent trends, right now in some neighbourhoods, furnished rentals continue to be cheaper than unfurnished ones on average. The price difference between the average for one-bedroom units is just $38.

Neighbourhood breakdown

Brampton continues to be the most affordable GTA neighbourhood while the most expensive is Downtown.

In Brampton, an unfurnished one-bedroom goes for $1,486 on average, but in Downtown Toronto, the same kind of unit will go for $1,871 — a difference of $385.

Because Canada’s cities are diverse, we’re breaking down the GTA into its different neighbourhoods to see the price difference listing types: one-bedroom, two-bedroom, and three-bedroom units, both unfurnished and furnished.

• Unfurnished units in Etobicoke are more expensive than furnished ones.
• The price difference between one and two bedrooms is the smallest in Scarborough for unfurnished units.
• North York is the most expensive neighbourhood for furnished three-bedroom units.

Downloadable resources

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Renting in Ontario

For information on renting in Ontario, refer to these comprehensive resource posts:

• What’s A Standard Rental Application?
• What do you need when applying for a rental?
• What Can A Landlord Ask For On A Rental Application In Ontario?
• How Do I Fill Out A Rental Application?
• Ontario Standard Lease Explained
• Frequently Asked Questions: Everything You Need to Know About Eviction in Ontario

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

August 2021 Vancouver Rent Report
August 2021 Toronto Rent Report
August 2021 Montreal Rent Report