Blog 5 Rent Reports 5 April 2021 Toronto Rent Report

April 2021 Toronto Rent Report

5 min read
Sarah Anderson

Sarah Anderson

Creative Content Writer at

Published on April 07, 2021

Last updated on June 30th, 2021

We’re springing ahead into 2021 and this April we’re looking at the real cost of rent in Toronto. The city continues to see an overall decline in rent —vacancy is up and rental prices are down, making this an ideal time to be a renter and negotiate for a better deal.

However, this downturn might not be here forever. For example, in Vancouver, rents have already started to rebound. Could Toronto be next?

You can get the latest updates on the Toronto rental market straight to your inbox when you subscribe to keep on top of the trends while we continue to see the effects of COVID-19 on the rental industry.

Let’s take a closer look at the reported average rent prices for April across the Greater Toronto Area.

These numbers are based on data we gathered from our own platform and other listing websites. This report and the rental trends we’ve identified will help both tenants and landlords to make informed and empowered decisions.

Jump to the following Toronto Rent Report sections:

Complete April 2021 Toronto Rent Report: Download Here – Canada’s trusted house & apartment rental website

Search apartments, condos, and homes for rent.

  • Verified Landlords: Rent from a trusted landlord. Look for the “ID Verified” tag to identify which landlords have been pre-screened.
  • Quality Rentals: Browse listings that have been checked by our team. Verified by official documents or by mail.
  • One-Click Applications: Fill out your Renter Resume once and apply to multiple listings in just a few clicks.
  • Looking at the average rent for a one-bedroom unfurnished apartment in Toronto over a six-month period from November 2020 to April 2021, you can clearly see a slow decline in rent.

    As we predicted for the Toronto rental market for 2021, there continues to be downward pressure pushing rents down as we move into the second quarter.

    Rental trends in Toronto for one bedroom apartments. has officially landed in Toronto

    Start your search today and browse through verified condos, houses and apartments for rent in Toronto. Connect instantly with verified landlords and apply to multiple listings with just a few clicks.

    Month-to-month rent change

    We’re going to see how rent has changed since March by looking at the exact percentage change month-over-month.

    Furnished Toronto rent trends

    Mississauga and Brampton saw furnished rentals go up significantly at +14.06% and +16.01% respectively. Conversely, it dropped in Downtown, North York, Etobicoke, and Markham.

    Unfurnished Toronto rent trends

    Unfurnished rent continues to climb in Brampton (+0.45%) and this month, it was joined by a modest increase in Scarborough (+1.27) as well.

    In other neighbourhoods, unfurnished rent was modestly down across the board with the biggest drop (-2.01%) in rent in Markham.

    The percentage change in rent from last month in Toronto,

    Toronto furnished vs. unfurnished averages

    We’ve seen an interesting change in the average rent in Toronto lately, namely that unfurnished rent dropped while furnished rent climbed.

    An unfurnished one-bedroom apartment is $1,666 — that’s up $13 from March’s average. However, for a furnished unit, rent went up $48 from last month to $1,752.

    The Toronto rental market shows an unfurnished one-bedroom apartment is $1,666.

    Neighbourhood breakdown

    The most inexpensive neighbourhood in the GTA is still Brampton where an unfurnished one-bedroom unit will cost on average $1,475 in monthly rent.

    Downtown continues to be the most expensive place to rent a home. The average rent for a one-bedroom will set you back $1,786 — that’s down from last month when it was $1,809.

    The rental market in toronto shows that downtown is the most expensive neighbourhood.

    Let’s take a closer look across the entire GTA to see how rent is looking in each neighbourhood. The following charts compare the rental averages of one-bedroom, two-bedroom, and three-bedroom units, both for unfurnished and furnished listings in Toronto in April 2021.

    Key takeaways:

    • The cheapest three-bedroom apartments are in Scarborough
    • The cheapest one and two-bedroom apartments are in Brampton
    • The cost of a one-bedroom apartment in North York or Etobicoke is just $50 or so less than the same apartment downtown
    Toronto rental average listings by type.
    Average toronto rent by listing type.

    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

    Vancouver continues to claim the title of the most expensive city to rent in Canada. The difference right now is small, but growing as Toronto rent drops.

    What is the most expensive city in Canada to rent?

    Downloadable Resources

    Impress at your next video conference by repping the latest rental averages and trends with our custom virtual backgrounds. 

    Free Virtual Backgrounds: Download Here

    Looking for the full report? Download it for free here.

    Complete April 2021 Toronto Rent Report: Download Here

    Find apartments & houses for rent with the app

    Rethink The Way You Rent

    Not on yet? Experience the ease of digital applications & contracts, verified tenants & landlords, virtual tours and more – all on one platform. Sign up for free or download the app.

    Subscribe to receive these monthly updates on the Toronto 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 COVID-19, refer to these 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):

    Renting in Ontario

    For information on renting in Ontario, refer to these resource posts about leases and evictions.


    Get rental reports, news, and tips straight to your inbox.




    Submit a Comment

    Your email address will not be published. Required fields are marked *

    All the rental tools you need, in one place

    Create your free account today to enjoy an easier, safer way to rent with verified listings, digital contracts & rent payments, and much more.