{"id":55709,"date":"2024-03-12T17:18:55","date_gmt":"2024-03-13T00:18:55","guid":{"rendered":"https:\/\/liv.rent\/blog\/?p=55709"},"modified":"2024-08-08T13:56:46","modified_gmt":"2024-08-08T20:56:46","slug":"march-2024-toronto-rent-report","status":"publish","type":"post","link":"https:\/\/liv.rent\/blog\/rent-reports\/march-2024-toronto-rent-report\/","title":{"rendered":"March 2024 Toronto Rent Report"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\">At a glance<\/h3>\n\n\n\n<ul>\n<li><strong>Markham is the fourth most expensive city to rent in Canada this March<\/strong>\n<ul>\n<li>During 2023, Markham and Mississauga were largely responsible for the GTA&#8217;s increase in rent prices. Across Ontario, Markham saw the largest year-over-year increase in rent price (+17.8%) for a furnished one-bedroom unit<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Behind Markham, Vaughan-Richmond Hill has also seen a significant year-over-year rent increase<\/strong>\n<ul>\n<li>This applies to both furnished (+8.9%) and unfurnished (+11.3%) one-bedroom units. Looking at the GTA, Vaughan-Richmond Hill also saw the largest year-over-year increase in search volume for searches related to renting in the city (+25%)<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Average rent prices in Ontario are seeing an even more pronounced slowdown than in B.C.<\/strong>\n<ul>\n<li>During 2023, the average increase in rent price in Ontario was +15.2% for a furnished one-bedroom unit vs. just a +0.6% average rent increase in 2024. Compared to the city of Vancouver which saw a slight increase in year-over-year rent prices (+0.5%), Toronto observed a drop (-6.9%) in rates for furnished one-bedroom units<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<p><em><strong>Download the full report here for a comprehensive summary of this month&#8217;s rental data. <\/strong><\/em><\/p>\n\n\n\n<style>\n\n.background-downloadable-report-to-monthly-rent-report {\n  text-align: center;\n  color: #303030;\n  font-family: 'Inter', sans-serif;\n  font-size: 24px;\n}\n\n.cta-block-downloadable-report-to-monthly-rent-report p{\n  font-family: 'Inter', sans-serif;\n  color: #303030; \n  font-weight: 400;\n  text-align: center; \n  font-size: 16px;\n}\n\n.cta-block-downloadable-report-to-monthly-rent-report {\n  background-color: #F5F5F5;\n  border-radius: 16px;\n  padding: 30px;\n  text-align: center;\n  margin: 20px 0px;\n}\n.button-downloadable-report-to-monthly-rent-report{\n  margin-top: 20px;\n  padding: 12px 16px;\n  background: #1D415E;\n  border: 0px solid white;\n  box-shadow: 0px 6px 8px -2px rgba(29, 66, 94, 0.4), 0px 12px 16px rgba(32, 121, 193, 0.15);\n  border-radius: 6px;\n  cursor: pointer;\n  \n  font-family: 'Inter';\n  font-style: normal;\n  font-weight: 600;\n  font-size: 14px;\n  line-height: 16px;\n  text-align: center;\n  color: #FFFFFF;\n\n}\n  \n<\/style>\n\n<div class=\"background-downloadable-report-to-monthly-rent-report cta-block-downloadable-report-to-monthly-rent-report\">\n<h3><strong>Download The Latest Toronto Rent Report<\/strong><\/h3>\n\n<p>For the complete Toronto rent report, download here.<\/p>\n\n<button id=\"downloadable-report-to-monthly-rent-report\" class=\"button-downloadable-report-to-monthly-rent-report\">Download Report<\/button>\n<\/div>\n\n\n\n<p>Toronto&#8217;s average rent prices have fallen this month after a short-lived increase in February. After a significant rise last month, the city of Toronto&#8217;s average monthly rent price for an unfurnished one-bedroom has dropped by $51 to a new monthly average of $2,273 this March. <\/p>\n\n\n\n<p><strong><em>We\u2019ve published our 2024 Canada Rental Market Trend Report with in-depth analysis of average rent prices, driving factors, and predictions for the year ahead. You can download your copy&nbsp;<a href=\"https:\/\/liv.rent\/blog\/rental-resources\/2024-canada-rental-market-trend-report\/\" target=\"_blank\" rel=\"noreferrer noopener\">here<\/a>.<\/em><\/strong><\/p>\n\n\n\n<p>Let&#8217;s take a look now at the latest data and see which neighbourhoods are experiencing the biggest changes in furnished and unfurnished rental rates.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"rent-trends\"><br>Toronto rent trends<\/h2>\n\n\n\n<p>Average rent prices for unfurnished, one-bedroom units in Toronto have decreased this March, by $51. Looking at a year-over-year comparison, the average monthly rent for an unfurnished, one-bedroom unit in the GTA has increased by just $60 since March 2023.<\/p>\n\n\n\n<p><strong><em>Planning on raising rent this year? Ontario&#8217;s Annual allowable rent increase limit for 2024 is 2.5%. Find out when and how you can increase rent and ensure you&#8217;re complying with provincial guidelines by reading our updated <a aria-label=\" (opens in a new tab)\" href=\"https:\/\/liv.rent\/blog\/landlords\/ontario-rent-increase\/\" target=\"_blank\" rel=\"noreferrer noopener\">Guide to Ontario Rent Increases<\/a>.<\/em><\/strong><\/p>\n\n\n\n<div style=\"border: 2px solid lightcoral; text-align: center; margin: 30px 0; padding: 20px; color: #BD8D7C;\">\r\n<p style=\"font-size: 16px;margin: 0;\"><b>&gt;&gt; Recommended Reading:<\/b> <a href=\"https:\/\/liv.rent\/blog\/landlords\/ontario-rent-increase\/\" target=\"_blank\" rel=\"noopener noreferrer\">What is Ontario\u2019s maximum allowable rent increase?<\/a><\/p>\r\n<\/div>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1024\" height=\"717\" src=\"https:\/\/liv.rent\/blog\/wp-content\/uploads\/2024\/03\/RentReport_GTA_2024_Mar-EN_Blog-4-1024x717.jpg\" alt=\"rental trends for unfurnished one-bedroom units in the Greater Toronto Area via the March 2024 liv rent report\" class=\"wp-image-55712\" srcset=\"https:\/\/liv.rent\/blog\/wp-content\/uploads\/2024\/03\/RentReport_GTA_2024_Mar-EN_Blog-4-980x686.jpg 980w, https:\/\/liv.rent\/blog\/wp-content\/uploads\/2024\/03\/RentReport_GTA_2024_Mar-EN_Blog-4-480x336.jpg 480w\" sizes=\"(min-width: 0px) and (max-width: 480px) 480px, (min-width: 481px) and (max-width: 980px) 980px, (min-width: 981px) 1024px, 100vw\" \/><\/figure>\n\n\n\n<br>\n<style>\n.background-landlord-cta-free-rent-estimate {\n  text-align: center;\n  color: #303030;\n  font-family: 'Inter', sans-serif;\n  font-size: 24px;\n}\n\n.cta-block-landlord-cta-free-rent-estimate p{\n  font-family: 'Inter', sans-serif;\n  color: #303030; \n  font-weight: 400;\n  text-align: center; \n  font-size: 16px;\n}\n\n.cta-block-landlord-cta-free-rent-estimate {\n  background-color: #F5F5F5;\n  border-radius: 16px;\n  padding: 30px;\n  text-align: center;\n  margin: 20px 0px;\n}\n.button-landlord-cta-free-rent-estimate{\n  margin-top: 20px;\n  padding: 12px 16px;\n  background: #1D415E;\n  border: 0px solid white;\n  box-shadow: 0px 6px 8px -2px rgba(29, 66, 94, 0.4), 0px 12px 16px rgba(32, 121, 193, 0.15);\n  border-radius: 6px;\n  cursor: pointer;\n  \n  font-family: 'Inter';\n  font-style: normal;\n  font-weight: 600;\n  font-size: 14px;\n  line-height: 16px;\n  text-align: center;\n  color: #FFFFFF;\n\n}\n<\/style>\n\n<div class=\"background-landlord-cta-free-rent-estimate cta-block-landlord-cta-free-rent-estimate\">\n<h3><strong>Is your rental priced competitively?<\/strong><\/h3>\n\n<p>Find out with a <em>free<\/em> rent estimate. Our team of rental experts will calculate your unit&#8217;s true value based on your listing details &amp; current market trends.<\/p>\n\n<a href=\"https:\/\/landlords.liv.rent\/rentestimate\/\" target=\"_blank\" rel=\"noopener noreferrer\"><button id=\"button-landlord-cta-free-rent-estimate\" class=\"button-landlord-cta-free-rent-estimate\">Get Your Free Estimate<\/button><\/a>\n<\/div>\n<br>\n\n\n\n<br><h2 id=\"month-to-month\">Month-to-month rent change<\/h2>\n\n\n\n<p>This chart breaks down the percentage change in rent prices across all <a aria-label=\" (opens in a new tab)\" href=\"https:\/\/liv.rent\/blog\/neighbourhoods\/where-to-live-in-toronto\/\" target=\"_blank\" rel=\"noreferrer noopener\">GTA cities\/municipalities<\/a> between February and March 2024.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"862\" height=\"1024\" src=\"https:\/\/liv.rent\/blog\/wp-content\/uploads\/2024\/03\/RentReport_GTA_2024_Mar-EN_Blog-8-862x1024.jpg\" alt=\"percentage change in rental prices for different cities and municipalities in the Greater Toronto Area, via the March 2024 liv rent report\" class=\"wp-image-55716\"\/><\/figure>\n\n\n\n<br><h3 style=\"color: #fe5f55\">Unfurnished Toronto rent trends<\/h3>\n\n\n\n<p>Average rates for unfurnished one-bedroom units in the GTA were relatively stable this month with few noteworthy changes. This month, the largest month-to-month increase was seen in <a href=\"https:\/\/liv.rent\/rental-listings\/city\/north-york\" target=\"_blank\" rel=\"noreferrer noopener\">North York<\/a> (+1.40%), alongside minor increases in <a href=\"https:\/\/liv.rent\/rental-listings\/city\/markham\/\" target=\"_blank\" rel=\"noreferrer noopener\">Markham<\/a> (+0.50%) and <a href=\"https:\/\/liv.rent\/rental-listings\/city\/brampton\/\" target=\"_blank\" rel=\"noreferrer noopener\">Brampton<\/a> (+0.25%). The most significant decreases this month occurred in <a href=\"https:\/\/liv.rent\/rental-listings\/city\/etobicoke\/\" target=\"_blank\" rel=\"noreferrer noopener\">Etobicoke<\/a> (-3.22%), <a href=\"https:\/\/liv.rent\/rental-listings\/city\/mississauga\" target=\"_blank\" rel=\"noreferrer noopener\">Mississauga<\/a> (-2.44%), and <a href=\"https:\/\/liv.rent\/rental-listings\/city\/scarborough\/\" target=\"_blank\" rel=\"noreferrer noopener\">Scarborough<\/a> (-1.42%).  <\/p>\n\n\n\n<br><h3 style=\"color: #fe5f55\">Furnished Toronto rent trends<\/h3>\n\n\n\n<p>In terms of furnished one-bedroom units, the largest month-to-month increases were in <a href=\"https:\/\/liv.rent\/rental-listings\/city\/mississauga\/\" target=\"_blank\" rel=\"noreferrer noopener\">Mississauga<\/a> (+10.08%), <a href=\"https:\/\/liv.rent\/rental-listings\/city\/scarborough\/\" target=\"_blank\" rel=\"noreferrer noopener\">Scarborough<\/a> (+5.45%) and <a href=\"https:\/\/liv.rent\/rental-listings\/city\/brampton\/\" target=\"_blank\" rel=\"noreferrer noopener\">Brampton<\/a> (+4.03%). The most significant month-to-month decreases occurred in <a href=\"https:\/\/liv.rent\/rental-listings\/city\/etobicoke\/\" target=\"_blank\" rel=\"noreferrer noopener\">Etobicoke<\/a> (-7.83%) and <a href=\"https:\/\/liv.rent\/rental-listings\/city\/toronto\/\" target=\"_blank\" rel=\"noreferrer noopener\">Downtown Toronto<\/a> (-4.32%) this March. <\/p>\n\n\n\n<p><\/p>\n\n\n\n<div style=\"border: 2px solid lightcoral; text-align: center; margin: 30px 0; padding: 20px; color: #BD8D7C;\">\r\n<p style=\"font-size: 16px;margin:0;\"><b>Read More:<\/b> <a href=\"https:\/\/liv.rent\/blog\/2021\/07\/liv-rent-user-guide-for-renters\/\" rel=\"noopener noreferrer\">\r\nThe Ultimate Renter\u2019s Guide To Using liv.rent\r\n\r\n\r\n<\/a><\/p>\r\n<\/div>\n\n\n\n<br><h2 id=\"furnished-unfurnished\">Toronto furnished vs unfurnished averages<\/h2>\n\n\n\n<p>This March, prices for both furnished and unfurnished one-bedroom units fell. This month, the average one-bedroom furnished unit rents for $31 less than a one-bedroom unfurnished unit. This means that at present, landlords are unlikely to see significantly higher profits renting out their units furnished \u2013 although they may still be able to capitalize on the demand for <a aria-label=\" (opens in a new tab)\" href=\"https:\/\/liv.rent\/blog\/landlords\/short-term-vs-long-term-rentals-which-are-right-for-you\/\" target=\"_blank\" rel=\"noreferrer noopener\">short-term rentals<\/a>. <\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/liv.rent\/blog\/wp-content\/uploads\/2024\/03\/RentReport_GTA_2024_Mar-EN_Blog-2-1024x683.jpg\" alt=\"average rent for furnished vs unfurnished units in the Greater Toronto Area for the March 2024 liv rent report\" class=\"wp-image-55710\" srcset=\"https:\/\/liv.rent\/blog\/wp-content\/uploads\/2024\/03\/RentReport_GTA_2024_Mar-EN_Blog-2-980x653.jpg 980w, https:\/\/liv.rent\/blog\/wp-content\/uploads\/2024\/03\/RentReport_GTA_2024_Mar-EN_Blog-2-480x320.jpg 480w\" sizes=\"(min-width: 0px) and (max-width: 480px) 480px, (min-width: 481px) and (max-width: 980px) 980px, (min-width: 981px) 1024px, 100vw\" \/><\/figure>\n\n\n\n\n\n<div style=\"border: 2px solid lightcoral; text-align: center; margin: 30px 0; padding: 20px; color: #BD8D7C;\">\r\n<p style=\"font-size: 16px;margin:0;\"><b>Read More: <\/b> <a href=\"https:\/\/liv.rent\/blog\/2021\/08\/questions-every-landlord-should-ask-applicants-before-they-sign-a-lease\/\" rel=\"noopener noreferrer\">56 Questions Every Landlord Should Ask Applicants Before They Sign A Lease\r\n\r\n\r\n<\/a><\/p>\r\n<\/div>\n\n\n\n<br><h2 id=\"rent-per-sq-ft\">Rent per square foot<\/h2>\n\n\n\n<p>Our monthly Rent Reports also look more closely at the average rent per square foot in municipalities throughout the Greater Toronto Area. This March, <a href=\"https:\/\/liv.rent\/rental-listings\/city\/toronto\" target=\"_blank\" rel=\"noreferrer noopener\">Downtown Toronto<\/a> ($3.50\/sq. ft.) has the most expensive average rent per square foot, followed by <a href=\"https:\/\/liv.rent\/rental-listings\/city\/north-york\" target=\"_blank\" rel=\"noreferrer noopener\">North York<\/a> ($3.37\/sq. ft.) and <a href=\"https:\/\/liv.rent\/rental-listings\/city\/mississauga\/\" target=\"_blank\" rel=\"noreferrer noopener\">Mississauga<\/a> ($3.23\/sq. ft.).<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1024\" height=\"690\" src=\"https:\/\/liv.rent\/blog\/wp-content\/uploads\/2024\/03\/RentReport_GTA_2024_Mar-EN_Blog-5-1024x690.jpg\" alt=\"average rent per square foot broken down by city for the March 2024 liv rent Toronto Rent Report\" class=\"wp-image-55713\" srcset=\"https:\/\/liv.rent\/blog\/wp-content\/uploads\/2024\/03\/RentReport_GTA_2024_Mar-EN_Blog-5-980x660.jpg 980w, https:\/\/liv.rent\/blog\/wp-content\/uploads\/2024\/03\/RentReport_GTA_2024_Mar-EN_Blog-5-480x323.jpg 480w\" sizes=\"(min-width: 0px) and (max-width: 480px) 480px, (min-width: 481px) and (max-width: 980px) 980px, (min-width: 981px) 1024px, 100vw\" \/><\/figure>\n\n\n\n<br><h2 id=\"active-listings\">Active listing data<\/h2>\n\n\n\n<p>We&#8217;ll also be looking at detailed statistics for currently active listings available on the market to see which property types and number of bedrooms are the most represented. For renters, these numbers show which types of units you&#8217;re most likely to encounter in the Greater Toronto Area, while for landlords, you can assess how much competition you&#8217;ll face based on the current supply.<\/p>\n\n\n\n<br><h3 style=\"color: #fe5f55\">Active listings by property type<\/h3>\n\n\n\n<p>As of March 2024, the most common rental property type in the Greater Toronto Area was apartments, representing the majority of all listings in the GTA at 95.63%. Partial Houses (e.g. basement suites) were the second-most rented unit type this month, representing 2.18% of active listings.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1024\" height=\"439\" src=\"https:\/\/liv.rent\/blog\/wp-content\/uploads\/2024\/03\/RentReport_GTA_2024_Mar-EN_Blog-11-1024x439.jpg\" alt=\"number of active listings by property type for the March 2024 liv rent report\" class=\"wp-image-55719\" srcset=\"https:\/\/liv.rent\/blog\/wp-content\/uploads\/2024\/03\/RentReport_GTA_2024_Mar-EN_Blog-11-980x420.jpg 980w, https:\/\/liv.rent\/blog\/wp-content\/uploads\/2024\/03\/RentReport_GTA_2024_Mar-EN_Blog-11-480x206.jpg 480w\" sizes=\"(min-width: 0px) and (max-width: 480px) 480px, (min-width: 481px) and (max-width: 980px) 980px, (min-width: 981px) 1024px, 100vw\" \/><\/figure>\n\n\n\n<br><h3 style=\"color: #fe5f55\">Active listings by number of bedrooms<\/h3>\n\n\n\n<p>In terms of the number of bedrooms, we saw a much more even spread across active listings on the market this March. One-bedroom units were the most common type of listing in the GTA this month at 48.95%, while two-bedroom units represented 36.29% of the region&#8217;s active listings.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1024\" height=\"391\" src=\"https:\/\/liv.rent\/blog\/wp-content\/uploads\/2024\/03\/RentReport_GTA_2024_Mar-EN_Blog-10-1024x391.jpg\" alt=\"number of active listings by number of bedrooms for the March 2024 liv rent report\" class=\"wp-image-55718\" srcset=\"https:\/\/liv.rent\/blog\/wp-content\/uploads\/2024\/03\/RentReport_GTA_2024_Mar-EN_Blog-10-980x374.jpg 980w, https:\/\/liv.rent\/blog\/wp-content\/uploads\/2024\/03\/RentReport_GTA_2024_Mar-EN_Blog-10-480x183.jpg 480w\" sizes=\"(min-width: 0px) and (max-width: 480px) 480px, (min-width: 481px) and (max-width: 980px) 980px, (min-width: 981px) 1024px, 100vw\" \/><\/figure>\n\n\n\n<p><\/p>\n\n\n\n<p><strong><em>Looking for our full March 2024 Toronto Rent Report? Download your copy <a href=\"#Downloadable_resources\">here<\/a> to get all the latest insights, including a detailed breakdown by neighbourhood.<\/em><\/strong><\/p>\n\n\n\n<br><h2 id=\"city-breakdown\">City breakdown<\/h2>\n\n\n\n<p>This February, Oshawa is the <a aria-label=\"most affordable GTA neighbourhood (opens in a new tab)\" href=\"https:\/\/liv.rent\/blog\/2021\/04\/2021-where-can-you-find-the-cheapest-toronto-rentals\/\" target=\"_blank\" rel=\"noreferrer noopener\">cheapest municipality<\/a> to rent in out of the areas we look at for our Rent Reports, while <a href=\"https:\/\/liv.rent\/rental-listings\/city\/north-york\/\" target=\"_blank\" rel=\"noreferrer noopener\">North York<\/a> is the region&#8217;s most expensive place to rent this month. <\/p>\n\n\n\n<p>The average rent price for an <a aria-label=\" (opens in a new tab)\" href=\"https:\/\/liv.rent\/rental-listings\/city\/brampton?furnished=false&amp;bedroom_count=1\" target=\"_blank\" rel=\"noreferrer noopener\">unfurnished one-bedroom<\/a> unit in Oshawa currently stands at $1,745, while in North York, the same type of unit rents for an average of $2,507 \u2013 a difference of $762.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1024\" height=\"674\" src=\"https:\/\/liv.rent\/blog\/wp-content\/uploads\/2024\/03\/RentReport_GTA_2024_Mar-EN_Blog-3-1024x674.jpg\" alt=\"highest and lowest rent in the GTA by neighbourhood via the March 2024 liv rent report\" class=\"wp-image-55711\" srcset=\"https:\/\/liv.rent\/blog\/wp-content\/uploads\/2024\/03\/RentReport_GTA_2024_Mar-EN_Blog-3-980x645.jpg 980w, https:\/\/liv.rent\/blog\/wp-content\/uploads\/2024\/03\/RentReport_GTA_2024_Mar-EN_Blog-3-480x316.jpg 480w\" sizes=\"(min-width: 0px) and (max-width: 480px) 480px, (min-width: 481px) and (max-width: 980px) 980px, (min-width: 981px) 1024px, 100vw\" \/><\/figure>\n\n\n\n<div style=\"border: 2px solid lightcoral; text-align: center; margin: 30px 0; padding: 20px; color: #BD8D7C;\">\r\n<p style=\"font-size: 16px;margin:0;\"><b>Read More:<\/b> <a href=\"https:\/\/liv.rent\/blog\/2022\/03\/toronto-rental-vacancy-rates\/\" rel=\"noopener noreferrer\">Rental Vacancy Rates In The City Of Toronto\r\n\r\n<\/a><\/p>\r\n<\/div>\n\n\n\n<p>Because Ontario&#8217;s different communities are so diverse, we&#8217;re breaking down the GTA into its different cities and municipalities to see the price difference within listing types: one-bedroom, two-bedroom, and three-bedroom units, both <a aria-label=\" (opens in a new tab)\" href=\"https:\/\/liv.rent\/blog\/rental-resources\/furnished-vs-unfurnished-rental-guide-for-landlords\/\" target=\"_blank\" rel=\"noreferrer noopener\">unfurnished and furnished<\/a>.<\/p>\n\n\n\n<ul>\n<li>Of these municipalities, Brampton had the lowest average rent prices for 1br furnished units, while Markham and Downtown Toronto tied for the most expensive at $2,551\/month. <\/li>\n\n\n\n<li>Prices for two-bedroom unfurnished units fell in every municipality except for Brampton, while rates for three-bedroom unfurnished units decreased everywhere but North York. <\/li>\n\n\n\n<li>Rates fell for all types of units, furnished and unfurnished, in Downtown Toronto this month.<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1024\" height=\"685\" src=\"https:\/\/liv.rent\/blog\/wp-content\/uploads\/2024\/03\/RentReport_GTA_2024_Mar-EN_Blog-7-2-1024x685.jpg\" alt=\"average rent for unfurnished one, two and three bedroom units in the Greater Toronto Area - broken down by city\/municipality for the March 2024 liv rent report\" class=\"wp-image-55775\" srcset=\"https:\/\/liv.rent\/blog\/wp-content\/uploads\/2024\/03\/RentReport_GTA_2024_Mar-EN_Blog-7-2-980x655.jpg 980w, https:\/\/liv.rent\/blog\/wp-content\/uploads\/2024\/03\/RentReport_GTA_2024_Mar-EN_Blog-7-2-480x321.jpg 480w\" sizes=\"(min-width: 0px) and (max-width: 480px) 480px, (min-width: 481px) and (max-width: 980px) 980px, (min-width: 981px) 1024px, 100vw\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1024\" height=\"685\" src=\"https:\/\/liv.rent\/blog\/wp-content\/uploads\/2024\/03\/RentReport_GTA_2024_Mar-EN_Blog-6-1024x685.jpg\" alt=\"average rent for furnished one, two and three bedroom units in the Greater Toronto Area - broken down by city\/municipality for the March 2024 liv rent report\" class=\"wp-image-55714\" srcset=\"https:\/\/liv.rent\/blog\/wp-content\/uploads\/2024\/03\/RentReport_GTA_2024_Mar-EN_Blog-6-980x655.jpg 980w, https:\/\/liv.rent\/blog\/wp-content\/uploads\/2024\/03\/RentReport_GTA_2024_Mar-EN_Blog-6-480x321.jpg 480w\" sizes=\"(min-width: 0px) and (max-width: 480px) 480px, (min-width: 481px) and (max-width: 980px) 980px, (min-width: 981px) 1024px, 100vw\" \/><\/figure>\n\n\n\n<div style=\"border: 2px solid lightcoral; text-align: center; margin: 30px 0; padding: 20px; color: #BD8D7C;\">\r\n<p style=\"font-size: 16px;margin:0;\"><b>Read More:<\/b> <a href=\"https:\/\/liv.rent\/blog\/2021\/09\/faq-everything-you-need-to-know-about-rent-deposits-in-ontario\/\" target=\"_blank\" rel=\"noopener noreferrer\">FAQ: Everything You Need To Know About Rent Deposits In Ontario\r\n\r\n<\/a><\/p>\r\n<\/div>\n\n\n\n<br><h2 id=\"averages-outside-gta\">Rental averages for other Ontario cities<\/h2>\n\n\n\n<p>We&#8217;ve also explored data from cities and municipalities in other regions within and surrounding the GTA. Looking at these additional cities, <a href=\"https:\/\/liv.rent\/rental-listings\/city\/niagara-falls\/\" target=\"_blank\" rel=\"noreferrer noopener\">Niagara Falls<\/a> is the least expensive to rent in this March at $1,521\/month for an unfurnished, one-bedroom unit, while <a href=\"https:\/\/liv.rent\/rental-listings\/city\/north-york\/\" target=\"_blank\" rel=\"noreferrer noopener\">North York<\/a> is the most expensive, at an average of $2,507 this month.<\/p>\n\n\n\n<p>For complete data on these cities as well as other municipalities outside of the Greater Toronto Area, download our full report <a href=\"#Downloadable_resources\" target=\"_blank\" rel=\"noreferrer noopener\">here<\/a> to view the complete report.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"977\" height=\"1024\" src=\"https:\/\/liv.rent\/blog\/wp-content\/uploads\/2024\/03\/RentReport_GTA_2024_Mar-EN_Blog-9-977x1024.jpg\" alt=\"average rent by municipality or city outside of the Greater Toronto Area via the March 2024 liv rent report\" class=\"wp-image-55717\"\/><\/figure>\n\n\n\n<br>\n<style>\n.background-landlord-cta-free-rent-estimate {\n  text-align: center;\n  color: #303030;\n  font-family: 'Inter', sans-serif;\n  font-size: 24px;\n}\n\n.cta-block-landlord-cta-free-rent-estimate p{\n  font-family: 'Inter', sans-serif;\n  color: #303030; \n  font-weight: 400;\n  text-align: center; \n  font-size: 16px;\n}\n\n.cta-block-landlord-cta-free-rent-estimate {\n  background-color: #F5F5F5;\n  border-radius: 16px;\n  padding: 30px;\n  text-align: center;\n  margin: 20px 0px;\n}\n.button-landlord-cta-free-rent-estimate{\n  margin-top: 20px;\n  padding: 12px 16px;\n  background: #1D415E;\n  border: 0px solid white;\n  box-shadow: 0px 6px 8px -2px rgba(29, 66, 94, 0.4), 0px 12px 16px rgba(32, 121, 193, 0.15);\n  border-radius: 6px;\n  cursor: pointer;\n  \n  font-family: 'Inter';\n  font-style: normal;\n  font-weight: 600;\n  font-size: 14px;\n  line-height: 16px;\n  text-align: center;\n  color: #FFFFFF;\n\n}\n<\/style>\n\n<div class=\"background-landlord-cta-free-rent-estimate cta-block-landlord-cta-free-rent-estimate\">\n<h3><strong>Is your rental priced competitively?<\/strong><\/h3>\n\n<p>Find out with a <em>free<\/em> rent estimate. Our team of rental experts will calculate your unit&#8217;s true value based on your listing details &amp; current market trends.<\/p>\n\n<a href=\"https:\/\/landlords.liv.rent\/rentestimate\/\" target=\"_blank\" rel=\"noopener noreferrer\"><button id=\"button-landlord-cta-free-rent-estimate\" class=\"button-landlord-cta-free-rent-estimate\">Get Your Free Estimate<\/button><\/a>\n<\/div>\n<br>\n\n\n\n<br><h2 id=\"Most-Expensive-Cities-in-Canada\">Most expensive cities in Canada<\/h2>\n\n\n\n<p>This March, four out of five of the country&#8217;s most expensive cities are located in B.C., with <a href=\"https:\/\/liv.rent\/rental-listings\/city\/markham\" target=\"_blank\" rel=\"noreferrer noopener\">Markham<\/a> as the fourth most expensive city in the country. <a href=\"https:\/\/liv.rent\/rental-listings\/city\/north-vancouver\/\" target=\"_blank\" rel=\"noreferrer noopener\">North Vancouver<\/a> is the most expensive city in the country to rent in, while <a href=\"https:\/\/liv.rent\/rental-listings\/city\/west-vancouver\/\" target=\"_blank\" rel=\"noreferrer noopener\">West Vancouver<\/a>, <a href=\"https:\/\/liv.rent\/rental-listings\/city\/vancouver\/\" target=\"_blank\" rel=\"noreferrer noopener\">Vancouver<\/a>, and <a href=\"https:\/\/liv.rent\/rental-listings\/city\/richmond\/\">Richmond<\/a> also make the list. Markham has been largely responsible for the GTA&#8217;s year-over-year rent price increases since 2023, a +17.8% increase in the average rate for a furnished one-bedroom unit.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1024\" height=\"491\" src=\"https:\/\/liv.rent\/blog\/wp-content\/uploads\/2024\/03\/RentReport_Vancouver_2024_Mar_EN_Blog-5-1024x491.png\" alt=\"most expensive cities to rent in Canada via the March 2024 liv rent report\" class=\"wp-image-55737\" srcset=\"https:\/\/liv.rent\/blog\/wp-content\/uploads\/2024\/03\/RentReport_Vancouver_2024_Mar_EN_Blog-5-1024x491.png 1024w, https:\/\/liv.rent\/blog\/wp-content\/uploads\/2024\/03\/RentReport_Vancouver_2024_Mar_EN_Blog-5-980x470.png 980w, https:\/\/liv.rent\/blog\/wp-content\/uploads\/2024\/03\/RentReport_Vancouver_2024_Mar_EN_Blog-5-480x230.png 480w\" sizes=\"(min-width: 0px) and (max-width: 480px) 480px, (min-width: 481px) and (max-width: 980px) 980px, (min-width: 981px) 1024px, 100vw\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">Downloadable resources<\/h2>\n\n\n\n<p>Our complete March 2024 Rent Report has information on even more key areas, broken down into region and unit type for a complete overview of rental averages in Ontario. To view these and all the other new information we&#8217;ve added, be sure to download your copy of the Rent Report below. <\/p>\n\n\n\n<style>\n\n.background-downloadable-report-to-monthly-rent-report {\n  text-align: center;\n  color: #303030;\n  font-family: 'Inter', sans-serif;\n  font-size: 24px;\n}\n\n.cta-block-downloadable-report-to-monthly-rent-report p{\n  font-family: 'Inter', sans-serif;\n  color: #303030; \n  font-weight: 400;\n  text-align: center; \n  font-size: 16px;\n}\n\n.cta-block-downloadable-report-to-monthly-rent-report {\n  background-color: #F5F5F5;\n  border-radius: 16px;\n  padding: 30px;\n  text-align: center;\n  margin: 20px 0px;\n}\n.button-downloadable-report-to-monthly-rent-report{\n  margin-top: 20px;\n  padding: 12px 16px;\n  background: #1D415E;\n  border: 0px solid white;\n  box-shadow: 0px 6px 8px -2px rgba(29, 66, 94, 0.4), 0px 12px 16px rgba(32, 121, 193, 0.15);\n  border-radius: 6px;\n  cursor: pointer;\n  \n  font-family: 'Inter';\n  font-style: normal;\n  font-weight: 600;\n  font-size: 14px;\n  line-height: 16px;\n  text-align: center;\n  color: #FFFFFF;\n\n}\n  \n<\/style>\n\n<div class=\"background-downloadable-report-to-monthly-rent-report cta-block-downloadable-report-to-monthly-rent-report\">\n<h3><strong>Download The Latest Toronto Rent Report<\/strong><\/h3>\n\n<p>For the complete Toronto rent report, download here.<\/p>\n\n<button id=\"downloadable-report-to-monthly-rent-report\" class=\"button-downloadable-report-to-monthly-rent-report\">Download Report<\/button>\n<\/div>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\">Renting in Ontario<\/h2>\n\n\n\n<p>For more information on renting in Ontario, refer to these comprehensive resource posts:<\/p>\n\n\n\n<ul>\n<li><a rel=\"noreferrer noopener\" aria-label=\"Applying For A Rental In Ontario Part 1: What\u2019s A Standard Rental Application? (opens in a new tab)\" href=\"https:\/\/liv.rent\/blog\/2021\/06\/applying-for-a-rental-in-ontario-whats-a-standard-rental-application\/\" target=\"_blank\">What\u2019s A Standard Rental Application?<\/a><\/li>\n\n\n\n<li><a rel=\"noreferrer noopener\" aria-label=\"Applying For A Rental In Ontario Part 2: What do you need when applying for a rental? (opens in a new tab)\" href=\"https:\/\/liv.rent\/blog\/2021\/06\/applying-for-a-rental-in-ontario-what-do-you-need-when-applying-for-a-rental\/\" target=\"_blank\">What do you need when applying for a rental?<\/a><\/li>\n\n\n\n<li><a rel=\"noreferrer noopener\" aria-label=\"Applying For A Rental In Ontario Part 3: What Can A Landlord Ask For On A Rental Application In Ontario? (opens in a new tab)\" href=\"https:\/\/liv.rent\/blog\/2021\/06\/applying-for-a-rental-in-ontario-what-can-a-landlord-ask-for-on-a-rental-application\/\" target=\"_blank\">What Can A Landlord Ask For On A Rental Application In Ontario?<\/a><\/li>\n\n\n\n<li><a rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\" href=\"https:\/\/liv.rent\/blog\/2021\/06\/applying-for-a-rental-in-ontario-how-do-i-fill-out-a-rental-application\/\" target=\"_blank\">How Do I Fill Out A Rental Application?<\/a><\/li>\n\n\n\n<li><a rel=\"noreferrer noopener\" aria-label=\"Ontario Standard Lease Explained (opens in a new tab)\" href=\"https:\/\/liv.rent\/blog\/2021\/01\/ontario-standard-lease-explained\/\" target=\"_blank\">Ontario Standard Lease Explained<\/a><\/li>\n\n\n\n<li><a aria-label=\" (opens in a new tab)\" href=\"https:\/\/liv.rent\/blog\/2021\/01\/eviction-in-ontario-faq\/\" target=\"_blank\" rel=\"noreferrer noopener\">Frequently Asked Questions: Everything You Need to Know About Eviction in Ontario<\/a><\/li>\n<\/ul>\n\n\n\n<br><h2 id=\"methodology\">Data collection methodology<\/h2>\n\n\n\n<font size= \"2\"><i>\r\n<p>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 &#8211; looking at available basement suites, apartments, condos, townhouses, semi-detached houses, and single-detached houses for each area.<\/p>\r\n\r\n<p>When collecting this data, we do exclude luxury properties listed at over $5,000, as well as rooms for rent and shared accommodation.  Investing in manual data collection means that we only consider the current month\u2019s listing, since we can filter out duplicate listings and older ads that haven\u2019t been removed. <\/p>\r\n\r\n<p>Another key difference between our data collection methods and some government agencies like the CMHC is that we only include current asking rent prices. Many official reports will include data for entire buildings in their reports, which tends to skew numbers lower since many units are already occupied, and may be rent-controlled or rented for significantly lower than the current rates. <\/p>\r\n\r\n<p>As we are a Canadian rental platform founded and based in Vancouver, we want to ensure that we\u2019re providing a completely accurate depiction of the rental market in the cities we look at. <\/p>\r\n<\/p><\/font><\/i>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<br>\n<style>\n.button-rethink-way-you-rent-monthly-report {\n  background-color: #7495AC;\n  border: 5px #26425C;\n  color: white;\n  padding: 10px 30px;\n  text-align: center;\n  text-decoration: none;\n  display: inline-block;\n  font-size: 15px;\n  margin: 5px 0px 20px 0px;\n}\n<\/style>\n<img decoding=\"async\" class=\"alignleft wp-image-23097\" src=\"https:\/\/liv.rent\/blog\/wp-content\/uploads\/2020\/08\/Digital-Contracts-Cropped-2.gif\" alt=\"Find apartments &amp; houses for rent with the liv.rent app\" width=\"220\" height=\"410\" style=\"float:left;\">\n\n<h2 style=\"color: #3E5B77;\">Rethink The Way You Rent<\/h2>\n\n<p>Not on <strong><a href=\"https:\/\/liv.rent\/\" target=\"_blank\" rel=\"noopener noreferrer\">liv.rent<\/a><\/strong> yet? Experience the ease of digital applications &amp; contracts, verified tenants &amp; landlords, virtual tours and more \u2013 all on one platform. <strong><a href=\"https:\/\/liv.rent\/pricing\" target=\"_blank\" rel=\"noopener noreferrer\">Sign up for free<\/a><\/strong> or <strong><a href=\"https:\/\/www.liv.rent\/download\" target=\"_blank\" rel=\"noopener noreferrer\">download the app<\/a><\/strong>.<\/p>\n\n<a href=\"https:\/\/liv.rent\/features\" target=\"_blank\" rel=\"noopener noreferrer\"><button class=\"button-rethink-way-you-rent-monthly-report\">Learn More<\/button><\/a>\n\n<p style=\"color: #3E5B77\"><strong><a href=\"https:\/\/315027fd.sibforms.com\/serve\/MUIEALxBmw-zX8J7nIDbE8Y0GsbO2XD2wyS5o8IJ7wVaedytZTfE-Ysnf2unVSDuBMQ_DiIreTYMftk3u84zjN-NZ459-r4fafSVJmvHqufcCZsHOdl9YPdQlyNO_8e-aEyO3JswcwrjPcNt9Ll22P85SQ6zAIiqlLhL9S2Es9edJgfjg0307yN6DptRbjGnHobRqNlUNRLczWrl\" target=\"_blank\" rel=\"noopener noreferrer\">Subscribe<\/a><\/strong> to receive these monthly updates on the Vancouver rental market. Discover last month&#8217;s Rent Reports below:<\/p><p>\n\n<a href=\"https:\/\/liv.rent\/blog\/rent-reports\/february-2024-metro-vancouver-rent-report\/\" target=\"_blank\" rel=\"noopener noreferrer\">February 2024 Metro Vancouver Rent Report<\/a><br>\n\n<a href=\"https:\/\/liv.rent\/blog\/rent-reports\/february-2024-toronto-rent-report\/\" target=\"_blank\" rel=\"noopener noreferrer\">February 2024 Toronto Rent Report<\/a><br>\n\n<a href=\"https:\/\/liv.rent\/blog\/rent-reports\/february-2024-calgary-edmonton-rent-report\/\" target=\"_blank\" rel=\"noopener noreferrer\">February 2024 Calgary &amp; Edmonton Rent Report<\/a>\n\n<br>\n<a href=\"https:\/\/liv.rent\/blog\/rent-reports\/february-2024-montreal-rent-report\/\" target=\"_blank\" rel=\"noopener noreferrer\">February 2024 Montreal Rent Report<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>At a glance Download the full report here for a comprehensive summary of this month&#8217;s rental data. Toronto&#8217;s average rent prices have fallen this month after a short-lived increase in February. After a significant rise last month, the city of Toronto&#8217;s average monthly rent price for an unfurnished one-bedroom has dropped by $51 to a [&hellip;]<\/p>\n","protected":false},"author":28,"featured_media":55720,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"off","_et_pb_old_content":"","_et_gb_content_width":"","inline_featured_image":false},"categories":[292,450],"tags":[399,350],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>March 2024 Toronto Rent Report | liv.rent blog<\/title>\n<meta name=\"description\" content=\"liv.rent&#039;s March 2024 Toronto Rent Report looks at rental data in the GTA, analyzing need-to-know statistics for renters &amp; landlords.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/liv.rent\/blog\/rent-reports\/march-2024-toronto-rent-report\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"March 2024 Toronto Rent Report | liv.rent blog\" \/>\n<meta property=\"og:description\" content=\"liv.rent&#039;s March 2024 Toronto Rent Report looks at rental data in the GTA, analyzing need-to-know statistics for renters &amp; landlords.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/liv.rent\/blog\/rent-reports\/march-2024-toronto-rent-report\/\" \/>\n<meta property=\"og:site_name\" content=\"liv.rent blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/liv.rent\/\" \/>\n<meta property=\"article:published_time\" content=\"2024-03-13T00:18:55+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-08-08T20:56:46+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/liv.rent\/blog\/wp-content\/uploads\/2024\/03\/RentReport_GTA_2024_Mar-EN_Blog-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1620\" \/>\n\t<meta property=\"og:image:height\" content=\"1080\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Greg Park\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@liv_rent\" \/>\n<meta name=\"twitter:site\" content=\"@liv_rent\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Greg Park\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"10 minutes\" \/>\n<script type=\"application\/ld+json\" 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