Blog 5 Rent Reports 5 November 2020 Toronto Rent Report

November 2020 Toronto Rent Report

4 min read
Kristina Ikavalko

Kristina Ikavalko

Creative Content Writer at

Published on November 02, 2020

Last updated on March 31st, 2021

As the winter approaches, Toronto is experiencing a 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 November 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 November 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. The drop in rental rates seems to have slowed after months of downward pressure.

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 October to November’s figures. While volatility persists in the furnished rental market, it appears to have stabilized for unfurnished rentals in the GTA. Etobicoke saw a 6.9% increase in the furnished rental category while Brampton experienced the biggest drop – a 5.84% decline, though that was countered slightly by a 2.03% increase in rental rates for unfurnished properties. Markham saw the next biggest decline – a 4.92% drop in furnished rental rates.

    Toronto Furnished vs. Unfurnished Averages

    What is the average rent in Toronto? The average rent in Toronto for an unfurnished one-bedroom apartment is $1,726 down slightly from October’s $1,737. The average rent in Toronto of a furnished apartment rose to $1,770 from October’s $1,748.

    Neighbourhood Breakdown

    Brampton continues to have the lowest average rent in the GTA for an unfurnished, 1 bedroom unit at $1,510, climbing from October’s $1,480. While the highest average 1 bedroom rent in the GTA for a similar home in November was, predictably, in Downtown Toronto at $1,993, down slightly again from October’s $2,000. 

    >> Recommended Reading: October 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 – $1,726, based on 1 bedroom unfurnished rates.

    Vancouver comes in second, with the average reported rent of $1,674 as of November. 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 November 2020 Rent Report package for easy sharing and reference.

    Complete November 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 monthly updates on Canada’s major rental markets. Discover last month’s Rent Reports below:

    Vancouver Rent Report
    Toronto Rent Report
    Montreal Rent Report
    Calgary and Edmonton 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.