October 2025 Ontario Rent Report

At a glance

• Furnished premiums vary widely across neighbourhoods
  • Downtown Toronto had a 22% furnished premium for one-bedroom units in October 2025 — renting at $2,576/month furnished vs. $2,115/month unfurnished. However, York and Vaughan–Richmond Hill flipped the trend, where unfurnished one-bedrooms were both $168 higher than furnished, highlighting inconsistent value perceptions for furnishings across neighbourhoods.
    
• York leads year-over-year rent declines
  • York’s one-bedroom furnished rent dropped from $2,008/month in October 2024 to $1,721/month in October 2025 — a 14.3% YoY decrease, making it the steepest annual decline among all Toronto-area neighbourhoods. Unfurnished two-bedrooms in York also fell slightly YoY, from $2,805/month to $2,366/month.
    
• East York sees spike in three-bedroom rents
  • Three-bedroom unfurnished units in East York jumped from $3,411/month in September 2025 to $3,599/month in October 2025 — a +5.5% MoM increase, continuing its upward trend from $3,377/month in October 2024. This positions East York among the priciest areas for large unfurnished units.

We’re expanding the scope of our rent report! Starting this month, our Toronto Rent Report is now the Ontario Rent Report. We’ve begun adding more cities—beginning with Ottawa.

As of October 2025, the City of Toronto’s average monthly rent price for an unfurnished one-bedroom saw a YoY drop of $176 to a new monthly average of $2,023 this month. Let’s take a look now at the latest data and see which neighbourhoods are experiencing the biggest changes in furnished and unfurnished rental rates.

Ontario rent trends

Compared to last month, the average rent price for an unfurnished one-bedroom unit in Toronto decreased by $6 this October to $2,044. The average rent for a furnished one-bedroom decreased by $8 since last month, bringing the rate to $2,023.

Planning on raising rent this year? Ontario’s Annual allowable rent increase limit for 2025/2026 is 2.5%. Find out when and how you can increase rent and ensure you’re complying with provincial guidelines by reading our updated Guide to Ontario Rent Increases.

liv.rent’s 2025 Canada Rental Market Trend Report is now live! Explore the latest rental trends across Canada, uncover key factors driving price changes, and gain exclusive insights into how landlords and renters perceive the market nationwide. Download your copy here.

Month-to-month rent change

This chart breaks down the percentage change in rent prices across all GTA cities/municipalities between September and October 2025.

Unfurnished Toronto rent trends

Rates for unfurnished one-bedroom units in the GTA varied this month. Markham saw the largest decrease at (-13.00%), while North York saw a minor increase (+2.65%).

Furnished Toronto rent trends

This month, average rates for furnished one-bedroom units in the GTA saw some notable changes. Mississauga saw the largest increase (+14.15%), while Vaughan-Richmond Hill saw the largest decrease (-9.00%).

Toronto furnished vs unfurnished averages

This October, prices for unfurnished one-bedroom units saw a (-0.28%) decrease to $2,044/month while furnished units saw a decrease (-0.38%) to $2,023/month. The average one-bedroom unfurnished unit rents for $21 more than a one-bedroom furnished unit. This means that at present, landlords won’t see profits renting out their units furnished, although they may still be able to capitalize on the demand for short-term rentals.

Rent per square foot

Our monthly Rent Reports also look more closely at the average rent per square foot in cities throughout the Greater Toronto Area. This October, Mississauga ($3.57/sq. ft.) had the highest rent per square foot, followed by Downtown ($3.52/sq. ft.). At the other end of the spectrum, Scarborough has the lowest rent per square foot ($1.81/sq. ft.).

Active listing data

We’ll also look at detailed statistics for currently active listings available to see which property types and number of bedrooms are the most represented. For renters, these numbers show which types of units you’re most likely to encounter in the Greater Toronto Area, while for landlords, you can assess how much competition you’ll face based on the current supply.

Active listings by property type

As of October 2025, the most common rental property type was apartments, representing the majority of all listings in the GTA at 89.46%. Partial houses were the second most common unit type this month, representing 4.90% of active listings, followed by townhouses at 3.19%.

Active listings by number of bedrooms

In terms of the number of bedrooms, we saw a varied spread across active listings on the market this October. One-bedroom units were the most common type of listing in the GTA this month at 45.66%, while two-bedroom units represented 41.41% of the region’s active listings. Three-bedroom units made up the remaining 12.93%.

Looking for our full October 2025 Toronto Rent Report? Download your copy here to get all the latest insights, including a detailed breakdown by neighbourhood.

City breakdown

This October, Oshawa is the cheapest municipality to rent in out of the areas we look at for our Rent Reports, while North York is the region’s most expensive place to rent this month.

The average rent price for an unfurnished one-bedroom unit in North York currently stands at $2,176/month, while in Oshawa the same type of unit rents for an average of $1,676/month – a difference of $500 between the two.

With Ontario’s different communities being so diverse, we’re breaking down the GTA into its different cities and municipalities to see the price difference within listing types: one-bedroom, two-bedroom, and three-bedroom units, both unfurnished and furnished.

• Prices for an unfurnished one-bedroom unit decreased across all areas except North York.
• Neighbourhoods outside the downtown core see notable dip in rent prices, with North York, and Vaughan-Richmond Hill showing decreases for furnished and unfurnished one-, and two-bedroom units.
• For small families or renters looking outside of Toronto, Ottawa saw decreases in rent prices for furnished and unfurnished one-, and two-bedroom units.

Rental averages for other Ontario cities

We’ve also looked at data from cities and municipalities in other regions within and surrounding the GTA. Looking at these additional cities, London is the least expensive to rent in October for one-bedroom unfurnished units at $1,609/month. Oakville is the most expensive for one-bedroom unfurnished units at $2,158/month.

For complete data on these cities as well as other municipalities outside of the Greater Toronto Area, download our full report here to view the complete report.

Most expensive cities in Canada

This October, five of the country’s most expensive cities are located in Metro Vancouver. West Vancouver is the most expensive city in the country to rent in, followed by North Vancouver, Vancouver, Richmond, and Burnaby.

Downloadable resources

Our complete October 2025 Rent Report has information on even more key areas, broken down into region and unit type for a complete overview of rental averages in Ontario. To view these and all the other new information we’ve added, be sure to download your copy of the Rent Report below.

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Renting in Ontario

For more 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

Data collection methodology

Our monthly rent reports use data from our own liv.rent listings, as well as data our team manually collects from other popular listing sites – looking at available basement suites, apartments, condos, townhouses, semi-detached houses, and single-detached houses for each area.

When collecting this data, we do exclude luxury properties listed at over $5,000, as well as rooms for rent and shared accommodation. Investing in manual data collection means that we only consider the current month’s listing, since we can filter out duplicate listings and older ads that haven’t been removed.

Another key difference between our data collection methods and some government agencies like the CMHC is that we only include current asking rent prices. Many official reports will include data for entire buildings in their reports, which tends to skew numbers lower since many units are already occupied, and may be rent-controlled or rented for significantly lower than the current rates.

As we are a Canadian rental platform founded and based in Vancouver, we want to ensure that we’re providing a completely accurate depiction of the rental market in the cities we look at.

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Vancouver Rent Report
Ontario Rent Report
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