Toronto Rent Trends 2020
To kick off the new year, this January we take a look at Toronto rent trends 2020. Rental rates dipped slightly in January but we predict they’ll recover as we move into February 2020.
Toronto Furnished vs. Unfurnished Rentals
What is the average rent in Toronto? The highest average rent in Toronto for an unfurnished one bedroom apartment is $1,928 down ever so slightly from December’s $1,933 while the average rent in Toronto of a furnished apartment also increased to $2,009 from December’s $1,982.
Neighbourhood Breakdown
To assist you in your rental decision, here is a breakdown of rental averages across other neighbourhoods in the GTA. Comparing 1, 2, and 3 bedroom rates for both unfurnished and furnished listings across each neighbourhood.
Brampton had the lowest average rent in the GTA for a 1 bedroom unfurnished unit at $1,650 while the highest average 1 bedroom rent in the GTA for a similar home in November was in Downtown Toronto at $2,453 (up slightly from December’s $2,442).
Most Expensive Cities in Canada
Average cost of living in Toronto continues to be the highest in Canada in a city by city comparison.
Here is the full Toronto rent report for you to save and reshare with ease:
Remember though, despite paying premium rates to live in Toronto’s downtown core, tenants are saving in other ways, primarily, on car-related expenses (vehicle, insurance, fuel and repairs). In addition, time is money, and living near where you work pays mental health dividends in terms of reduced commuting times and associated stress.
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For more rental stats, read our previous post December 2019 Toronto Rental Report or compare rents with Vancouver: January 2020 Vancouver Rent Report or Montreal: January 2020 Montreal Rent Report
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