Blog 5 Rent Reports 5 March 2020 Toronto Rent Report

March 2020 Toronto Rent Report

3 min read
Kristina Ikavalko

Kristina Ikavalko

Creative Content Writer at

Published on March 04, 2020

Last updated on March 31st, 2021

March 2020 Toronto Rent Prices

Let’s take a look at Toronto rent trends 2020 for March.  Rental rates continued to dip in March but we predict they will stabilize as we move into the spring market.

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 $1,847 (down slightly from February’s $1,888) while the average rent in Toronto of a furnished apartment also decreased to $1,934 from February’s $1,986.

>> Recommended Reading: Should you rent furnished or unfurnished?

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 an unfurnished, 1 bedroom unit at $1,563 (down from February’s $1,633) while the highest average 1 bedroom rent in the GTA for a similar home in March was in Downtown Toronto at $2,161 (down from February’s $2,252).

Most Expensive Cities in Canada

Average cost of living in Toronto continues to be the highest in Canada in a city by city comparison.

Vancouver comes in at a close second, with the average reported rent of $1,742 as of March. There are many similarities, and differences between the two most popular and expensive cities in Canada. Check out our article on the cost of living comparison between Vancouver and Toronto here

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.

Be sure to subscribe to our mailing list for all future updates on the Toronto rental market 2020!

See last month’s Rent Reports: 

February 2020 Vancouver Rental Report

February 2020 Toronto Rental Report

February 2020 Montreal Rental Report

Find your next home with, your rental companion for everything renting.

With verified listings and landlords, avoid rental scams & save time with digital applications and contracts.

Sign up here.


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.