Blog 5 Rent Reports 5 Toronto Rental Stats – May 2019 Snapshot

Toronto Rental Stats – May 2019 Snapshot

2 min read


Creative Content Writer at

Published on June 06, 2019

Last updated on March 31st, 2021

Toronto Rental Stats May 2019 - Average Rental Prices - Renter demographics - Renter Market

Toronto Renter Stats – Trends

This month we take a look at the state of the rental market in Greater Toronto based on May’s figures.  Overall, renters saw some relief last month with many neighbourhoods posting decreases in rental rates. Only Vaughan/Richmond Hill saw an increase – a sizeable one at that (8.3%). Below is a breakdown of the Toronto rental stats for May 2019.

Toronto Rental Market Trends - Rent Increase From April

Furnished vs. Unfurnished Rentals

The average rent for an unfurnished one bedroom apartment in May was down from April’s $1,801 to $1,762. The average cost of a furnished apartment, however, crept upwards to $2,064 from April’s $1,862.

Average Rental Prices in Toronto - furnished vs. Unfurnished

Highest vs. Cheapest Rent in Toronto

Taking the honors away from April’s bargains in Mississauga, Vaughan/Richmond Hill boasted the lowest average rent for a 1 bedroom furnished unit at $2,100 (up from $2,000 in April) in May, despite also experiencing the largest month over month increase in rent. The highest average rent for a similar home in May was in Downtown Toronto at $2,383 (down slightly from April’s $2,467) .


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!

For more rental stats, read our Vancouver Rental Stats – May 2019 Snapshot.

Follow us on Instagram for monthly Toronto rental stats and other major metropolitan cities.



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Your email address will not be published.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.