Blog 5 Rent Reports 5 December 2020 Toronto Rent Report

December 2020 Toronto Rent Report

4 min read
Kristina Ikavalko

Kristina Ikavalko

Creative Content Writer at

Published on December 02, 2020

Last updated on March 31st, 2021

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 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.

We encourage you to subscribe to our mailing list for updates on the Toronto rental market and for our continued reporting on the impact of COVID-19 on the rental industry. – 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.

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 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

Bring the latest rental averages and trends to your next video conference with our custom virtual backgrounds. 

Free Virtual Backgrounds: Download Here

Save the complete December 2020 Rent Report package for easy sharing and reference.

Complete December 2020 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 Vancouver rental market. Discover last month’s Rent Reports below:

November 2021 Vancouver Rent Report
November 2021 Toronto Rent Report
November 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):


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.