November 2026 Ontario rent report

At a glance

• Unfurnished one-bedroom rents sit below last November in 13 of 20 areas
  • The City of Toronto average for an unfurnished one-bedroom is $1,976, down 1.64% year-over-year from $2,009 in November 2025. Across the 20 areas we track, 13 recorded lower unfurnished one-bedroom rents than a year ago and seven were higher.
• Vaughan-Richmond Hill posted the steepest unfurnished decline of any area
  • Unfurnished one-bedroom rents in Vaughan-Richmond Hill fell 6.20% month-over-month to $1,892, and are down 11.62% year-over-year. Unfurnished two-bedroom rents fell 5.70% to $2,403, while furnished one-bedrooms rose 1.88% to $1,728.
• The furnished premium has flipped to a discount
  • A year ago, a furnished one-bedroom in the City of Toronto averaged $2,128, which was $119 more than the $2,009 unfurnished average. Furnished rents have since fallen 9.26% to $1,931, so an unfurnished one-bedroom now costs $45 more than a furnished one.

Download liv.rent’s 2026 Canada rental market trends report for in-depth insights and forecasts on average rent prices, regional market comparisons, key economic drivers, and emerging AI trends shaping Canada’s rental landscape.

As of October 28, 2026, the Bank of Canada raised its policy interest rate by 25 basis points to 2.5%, its first increase since July 2023. The next scheduled announcement is December 9, 2026. Ontario’s rent increase guideline is 2.1% for 2026 and 1.9% for 2027, according to Ontario.ca.

Ontario rent trends

In November 2026, the average asking rent for an unfurnished one-bedroom in the City of Toronto rose 0.34% from October to $1,976 per month. Compared with November 2025, it is down 1.64%, a decrease of $33 from $2,009.

Planning on raising rent? Ontario’s rent increase guideline is 2.1% for 2026 and 1.9% for 2027. Find out when and how to increase rent, and how to comply with provincial rules, by reading our Guide to Ontario Rent Increases.

Month-to-month rent change

To see how rents shifted from October to November, here are the month-over-month movements for unfurnished and furnished one-bedroom units across the six areas of the City of Toronto, with the wider GTA shown in the chart below.

Unfurnished Toronto rent trends

Among unfurnished one-bedroom units, Etobicoke recorded the largest increase at 2.39%, followed by East York at 1.69%, Scarborough at 1.42%, and North York at 1.39%. Downtown posted the largest decrease at 2.96%, followed by York at 1.78%.

Furnished Toronto rent trends

Among furnished one-bedroom units, North York recorded the largest increase at 9.13%, followed by East York at 3.33%. Etobicoke posted the largest decrease at 4.43%, followed by Downtown at 3.99%, Scarborough at 2.92%, and York at 1.51%.

Toronto furnished vs. unfurnished averages

Furnished and unfurnished one-bedrooms moved in opposite directions this month. Furnished one-bedrooms decreased 0.31% to $1,931 per month, while unfurnished units increased 0.34% to $1,976. An unfurnished one-bedroom currently rents for $45 more per month than a furnished one on average, a reversal from November 2025, when furnished units averaged $2,128 and cost $119 more than unfurnished units at $2,009.

Rent per square foot

Where is the most affordable place to rent in the GTA based on the space you get? As of November 2026, the average asking rent per square foot rose 1.9% from October to $2.56. The most expensive areas for square footage are Downtown at $3.71, Markham at $3.33, and North York at $3.25. The least expensive are Brampton at $1.60, Vaughan-Richmond Hill at $2.02, and Etobicoke and Ottawa, which tie at $2.13.

Active listing data

We also examine detailed statistics for currently active listings on the market to see which property types and bedroom counts are most represented. For renters, these numbers show the types of units you are most likely to encounter across Toronto and the GTA. For landlords, they indicate how much competition you face based on current supply.

Active listings by property type

As of November 2026, apartments were the most common rental property type on the market at 94.08% of active listings. Partial houses were the second most represented unit type this month at 3.05%, followed by houses at 1.60% and townhouses at 1.27%.

Active listings by number of bedrooms

Looking at bedroom counts, one-bedroom units were the most common listing this month at 47.78%, with two-bedroom units next at 39.14%. Three-bedroom units made up the remaining 13.08%.

City breakdown

Across the GTA areas we track, Oakville was the most expensive for an unfurnished one-bedroom this month at $2,167 per month, while Oshawa was the least expensive at $1,608.

Rental averages vary across the GTA and surrounding regions, so we break the data out by municipality and by listing type. Here is a closer look at how rents moved from October to November across nine key areas: Brampton, Downtown, Etobicoke, Markham, Mississauga, North York, Ottawa, Scarborough, and Vaughan-Richmond Hill.

• Unfurnished two-bedroom rents decreased in seven of the nine areas, with North York and Etobicoke the exceptions.
• Unfurnished three-bedroom rents decreased in five of the seven areas with figures in both months, with North York and Mississauga the exceptions.
• Furnished one-bedroom rents increased in North York, Mississauga, Ottawa, and Vaughan-Richmond Hill, and decreased in the other four areas with data this month.

The interactive table below covers all 20 areas for furnished and unfurnished one-, two-, and three-bedroom units, with arrows showing the change since October, and includes a year-over-year column comparing each area’s unfurnished one-bedroom asking rent with November 2025. Thirteen areas sit below where they were a year ago, with declines ranging from 0.19% in Etobicoke to 11.62% in Vaughan-Richmond Hill. The table is interactive: sort any column, or download it as an image.

Rental averages for other Ontario cities

Outside the GTA, London remains the least expensive area we track for an unfurnished one-bedroom at $1,525 per month, down 8.77% year-over-year. Kitchener follows at $1,705, and Ottawa is at $1,824. Hamilton recorded the largest month-over-month increase among these cities, with unfurnished one-bedroom rents up 5.84% to $1,714. For complete data on these cities and other municipalities outside the GTA, download our full report here.

Most expensive cities in Canada

This November, four of the country’s five most expensive cities are in Metro Vancouver, and one is in Ontario. West Vancouver* claims the top spot as the most expensive city in Canada to rent in at $2,530, followed by North Vancouver at $2,431 and Vancouver at $2,263. Burlington, Ontario, ranks fourth at $2,156, with Burnaby fifth at $2,109.

*Based on a smaller sample of listings.

Downloadable resources

Renting in Ontario

These guides cover renting in Ontario and using liv.rent to streamline your rental process.

• What’s a standard rental application?
• What do you need when applying for a rental?
• What can a landlord ask for on a rental application in Ontario?
• How do I fill out a rental application?
• Ontario standard lease explained
• Frequently asked questions: eviction in Ontario

Data collection methodology

Our monthly rent reports use data from our own liv.rent listings, as well as data our team manually collects from other popular listing sites, covering available basement suites, apartments, condos, townhouses, semi-detached houses, and single-detached houses for each area.

When collecting this data, we exclude luxury properties listed at over $5,000, as well as rooms for rent and shared accommodation. Investing in manual data collection means we consider only the current month’s listings, since we can filter out duplicate listings and older ads that have not been removed.

Another key difference between our data collection methods and those of agencies such as the Canada Mortgage and Housing Corporation is that we include only current asking rent prices. Many official reports include data for entire buildings, which tends to skew numbers lower since many units are already occupied and may be rent-controlled or rented well below current rates.

As a Canadian rental platform founded and based in Vancouver, we want to provide a completely accurate depiction of the rental market in the cities we cover.

Rethink the way you rent

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

Learn more

Subscribe to receive monthly updates on Canada’s major rental markets. Discover last month’s rent reports below:

Vancouver rent report
Ontario rent report
Montreal rent report
Calgary and Edmonton rent report