October 2026 Ontario rent report

At a glance

• Unfurnished one-bedroom rents are lower than a year ago in 14 of 20 Ontario areas
  • The City of Toronto average for an unfurnished one-bedroom was $1,969 in October 2026, down 3.7% from $2,044 in October 2025. North York recorded the steepest year-over-year decline at 9.5%, falling from $2,176 to $1,969, while Markham posted the largest increase at 5.7%, rising from $1,968 to $2,081.
• Downtown Toronto furnished rents rose in every unit size while unfurnished rents fell in every one
  • Furnished rents in Downtown increased from September in all three unit sizes: one-bedrooms by 6.56% to $2,425, two-bedrooms by 8.35% to $3,235, and three-bedrooms by 1.91% to $4,587. Unfurnished rents decreased in all three: one-bedrooms by 1.48% to $2,083, two-bedrooms by 6.15% to $2,825, and three-bedrooms by 3.78% to $3,853.
• The gap between furnished and unfurnished one-bedrooms across the City of Toronto narrowed to $32
  • The furnished one-bedroom average increased 2.05% from September to $1,937, while the unfurnished average eased 0.22% to $1,969. An unfurnished one-bedroom now costs $32 more per month than a furnished one on average, down from a $75 difference in September.

Download liv.rent’s 2026 Canada rental market trends report for in-depth insights and forecasts on average rent prices, regional market comparisons, key economic drivers, and emerging AI trends shaping Canada’s rental landscape.

As of September 2, 2026, the Bank of Canada held its policy interest rate at 2.25%, the seventh consecutive hold. The next scheduled announcement is October 28, 2026.

Let’s look now at the current rental costs and overarching trends across Toronto and Ontario for October 2026.

Ontario rent trends

Planning on raising rent? For most rent-controlled units in Ontario, the rent increase guideline is 2.1% for increases taking effect in 2026 and 1.9% for increases taking effect in 2027. Find out when and how to increase rent, and how to stay compliant with provincial rules, by reading our updated guide to Ontario rent increases.

Viewed across the year so far, unfurnished one-bedroom asking rents in the City of Toronto have held in a narrow band, staying below $2,000 every month with a low of $1,942 in May, while remaining below the same months in 2025. The October average of $1,969 compares with $2,044 a year earlier.

Month-to-month rent change

Here is how one-bedroom asking rents moved between September and October across the nine areas we track most closely, starting with the City of Toronto average.

Unfurnished Toronto rent trends

The City of Toronto average for an unfurnished one-bedroom eased 0.22% from September to $1,969. Markham recorded the largest increase among the nine areas at 3.88%, followed by Scarborough at 1.67% and Mississauga at 0.88%. Etobicoke posted the largest decrease at 2.72%, followed by Downtown at 1.48%.

Furnished Toronto rent trends

The City of Toronto average for a furnished one-bedroom increased 2.05% from September to $1,937. Downtown recorded the largest increase at 6.56%, followed by Etobicoke at 6.19% and Scarborough at 2.04%. Markham posted the largest decrease at 5.02%, followed by Vaughan-Richmond Hill at 3.89% and Ottawa at 1.96%.

Toronto furnished vs. unfurnished averages

Furnished and unfurnished one-bedrooms moved in opposite directions this month. The furnished average increased 2.05% to $1,937 per month, while the unfurnished average decreased 0.22% to $1,969. An unfurnished one-bedroom in the City of Toronto now costs $32 more per month than a furnished one on average, compared with $75 more in September.

Rent per square foot

Where do you get the most space for your money across the Ontario areas we track? As of October 2026, the average asking rent per square foot increased 3.9% from September to $2.51. The least expensive areas for square footage are Brampton at $1.52, Vaughan-Richmond Hill at $1.98, and Ottawa at $2.10. The most expensive are Downtown at $3.76, Markham at $3.14, and North York at $3.06.

Active listing data

We also examine detailed statistics for currently active listings on the market to see which property types and bedroom counts are most represented. For renters, these numbers show the types of units you are most likely to encounter in this month’s sample of active listings. For landlords, they indicate how much competition you face based on current supply.

Active listings by property type

As of October 2026, apartments were the most common rental property type on the market at 94.54% of active listings. Partial houses were the second most represented unit type this month at 2.49%, followed by houses at 1.67% and townhouses at 1.30%.

Active listings by number of bedrooms

Looking at bedroom counts, one-bedroom units were the most common listing this month at 47.80%, with two-bedroom units close behind at 41.80%. Three-bedroom units made up the remaining 10.39%.

City breakdown

Rental averages vary widely across the GTA and beyond, so we break the data out by area to compare one-bedroom, two-bedroom, and three-bedroom rates for furnished and unfurnished units. This month, Oakville recorded the highest unfurnished one-bedroom rent at $2,133 per month, while Oshawa was the most affordable at $1,605.

Taking a closer look by listing type across the nine areas we track most closely, here are the highlights from this month’s findings:

• Unfurnished one-bedroom rents increased in five of the nine areas, with decreases in Downtown, Etobicoke, North York, and Ottawa.
• Furnished one-bedroom rents decreased in six of the nine areas, with increases only in Downtown, Etobicoke, and Scarborough.
• Mississauga was the only area where all three unfurnished unit types increased in price.

The table below includes a year-over-year column comparing each area’s unfurnished one-bedroom asking rent with October 2025. Compared with a year ago, 14 of the 20 areas sit lower, with declines ranging from less than 0.1% in Brampton to 9.5% in North York, while six are higher, led by Markham at 5.7%. The table is interactive: sort any column, or download it as an image.

Rental averages for other Ontario cities

Outside the GTA, rents vary just as widely. London was the most affordable of the cities we track, with an unfurnished one-bedroom at $1,518 per month and a year-over-year decrease of 5.7%, followed by St. Catharines at $1,592 and Hamilton at $1,619. Ottawa was the most expensive at $1,809, ahead of Niagara Falls at $1,756 and Kitchener at $1,694. St. Catharines posted the largest monthly increase in this group at 3.91%, while Niagara Falls saw the largest decrease at 2.29%.

Looking for our full October 2026 Ontario rent report? Download our full report here for all the latest insights, including a detailed breakdown by area.

Most expensive cities in Canada

This October, three of the country’s five most expensive cities are in Metro Vancouver. West Vancouver claims the top spot as the most expensive city in Canada to rent in at $2,532 for an unfurnished one-bedroom, followed by North Vancouver at $2,452 and Vancouver at $2,329. Two Ontario cities round out the top five: Burlington at $2,106 and Markham at $2,081.

Downloadable resources

Renting in Ontario

These comprehensive guides cover renting in Ontario and using liv.rent to streamline your rental process.

• 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: 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, covering available basement suites, apartments, condos, townhouses, semi-detached houses, and single-detached houses for each area.

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

Another key difference between our data collection methods and those of agencies such as the Canada Mortgage and Housing Corporation is that we include only current asking rent prices. Many official reports include data for entire buildings, which tends to skew numbers lower since many units are already occupied and may be rent-controlled or rented well below current rates.

As a Canadian rental platform founded and based in Vancouver, we want to provide a completely accurate depiction of the rental market in the cities we cover.

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Subscribe to receive monthly updates on Canada’s major rental markets. Discover last month’s rent reports below:

Vancouver rent report
Ontario rent report
Montreal rent report
Calgary and Edmonton rent report