{"id":61982,"date":"2024-12-09T12:02:40","date_gmt":"2024-12-09T20:02:40","guid":{"rendered":"https:\/\/liv.rent\/blog\/?p=61982"},"modified":"2025-02-26T10:30:39","modified_gmt":"2025-02-26T18:30:39","slug":"december-2024-toronto-rent-report","status":"publish","type":"post","link":"https:\/\/liv.rent\/blog\/rent-reports\/december-2024-toronto-rent-report\/","title":{"rendered":"December 2024 Toronto Rent Report"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\">At a glance<\/h3>\n\n\n\n<ul>\n<li><strong><strong>Ongoing decline: Toronto rental rates fall again<\/strong><\/strong>\n<ul>\n<li>Rental prices for an unfurnished one-bedroom unit in Toronto fell by $16 in December. Year-over-year, rents are also down by $123, underscoring a notable annual decline. While it\u2019s common for rental prices to dip during the Fall and Winter seasons, the ongoing year-over-year decrease indicates a broader downward trend in the Canadian rental market.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>North York leads as the most expensive area for rent per square foot this month<\/strong>\n<ul>\n<li>North York experienced an increase of $0.21 per square foot this December, bringing its average rent to ($3.41\/sq. ft.), making it the most expensive area for rent. Downtown follows at ($3.15\/sq. ft.), with Markham securing third place at ($3.07\/sq. ft.).<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong><strong>Brampton offers some of the lowest rental prices<\/strong><\/strong>\n<ul>\n<li>This December, Brampton recorded the lowest average rental rates for all types of one- and two-bedroom units. The average rent for a one-bedroom unfurnished unit in Brampton is $1,696, significantly lower than Downtown\u2019s average of $2,365\u2014a difference of $669\/month.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\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>As of December 2024, the City of Toronto\u2019s average monthly rent price for an unfurnished one-bedroom saw a YoY drop of $123 to a new monthly average of $2,161 this month.<\/p>\n\n\n\n<p><strong><em>We\u2019ve published our 2024 Canada Rental Market Trend Report with an 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>Compared to last month, the average rent price for an unfurnished one-bedroom unit in Toronto dropped by $16 this December. Looking at a year-over-year comparison, the average monthly rent for an unfurnished, one-bedroom unit in Toronto has decreased, dropping by $123 since December 2023.<\/p>\n\n\n\n<p><strong><em>Planning on raising rent this year? Ontario&#8217;s Annual allowable rent increase limit for 2025\/2026 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\/11\/RentReport_GTA_2024_December_EN_Blog-4-1024x717.png\" alt=\"rental trends for unfurnished one-bedroom units in the Greater Toronto Area via the December 2024 liv rent report\" class=\"wp-image-61986\" srcset=\"https:\/\/liv.rent\/blog\/wp-content\/uploads\/2024\/11\/RentReport_GTA_2024_December_EN_Blog-4-1024x717.png 1024w, https:\/\/liv.rent\/blog\/wp-content\/uploads\/2024\/11\/RentReport_GTA_2024_December_EN_Blog-4-980x686.png 980w, https:\/\/liv.rent\/blog\/wp-content\/uploads\/2024\/11\/RentReport_GTA_2024_December_EN_Blog-4-480x336.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<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 November and December 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\/11\/RentReport_GTA_2024_December_EN_Blog-8-862x1024.png\" alt=\"percentage change in rental prices for different cities and municipalities in the Greater Toronto Area, via the December 2024 liv rent report\" class=\"wp-image-61993\"\/><\/figure>\n\n\n\n<br><h3 style=\"color: #fe5f55\">Unfurnished Toronto rent trends<\/h3>\n\n\n\n<p>Rates for unfurnished one-bedroom units in the GTA varied depending on the neighbourhood. When looking at one-bedroom units, <a href=\"https:\/\/liv.rent\/rental-listings\/city\/toronto\" target=\"_blank\" rel=\"noreferrer noopener\">Downtown<\/a> saw the largest increase at (+1.16%) while <a href=\"https:\/\/liv.rent\/rental-listings\/city\/markham\" target=\"_blank\" rel=\"noreferrer noopener\">Markham<\/a> saw the largest decrease at (-3.80%).<\/p>\n\n\n\n<br><h3 style=\"color: #fe5f55\">Furnished Toronto rent trends<\/h3>\n\n\n\n<p>This month, average rates for furnished one-bedroom units in the GTA saw two major changes. <a href=\"https:\/\/liv.rent\/rental-listings\/city\/scarborough\" target=\"_blank\" rel=\"noreferrer noopener\">Scarborough <\/a>saw the largest month-to-month decrease at (-7.41%), while Vaughan-Richmond Hill saw the largest increase at (+4.97%).<\/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 December, prices for furnished and unfurnished one-bedroom units both saw a decrease. The average one-bedroom unfurnished unit rents for just $22 more than a one-bedroom furnished unit. This means that at present, landlords won&#8217;t see 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\/11\/RentReport_GTA_2024_December_EN_Blog-2-1024x683.png\" alt=\"average rent for furnished vs unfurnished units in the Greater Toronto Area for the December 2024 liv rent report\" class=\"wp-image-61988\" srcset=\"https:\/\/liv.rent\/blog\/wp-content\/uploads\/2024\/11\/RentReport_GTA_2024_December_EN_Blog-2-1024x683.png 1024w, https:\/\/liv.rent\/blog\/wp-content\/uploads\/2024\/11\/RentReport_GTA_2024_December_EN_Blog-2-980x653.png 980w, https:\/\/liv.rent\/blog\/wp-content\/uploads\/2024\/11\/RentReport_GTA_2024_December_EN_Blog-2-480x320.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\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 cities throughout the Greater Toronto Area. This December, <a href=\"https:\/\/liv.rent\/rental-listings\/city\/north-york\" target=\"_blank\" rel=\"noreferrer noopener\">North York<\/a> ($3.41\/sq. ft.) has the most expensive average rent per square foot, followed by <a href=\"https:\/\/liv.rent\/rental-listings\/city\/toronto\/\" target=\"_blank\" rel=\"noreferrer noopener\">Downtown<\/a> ($3.15\/sq. ft.) and <a href=\"https:\/\/liv.rent\/rental-listings\/city\/markham\" target=\"_blank\" rel=\"noreferrer noopener\">Markham <\/a>($3.07\/sq. ft.).<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1024\" height=\"689\" src=\"https:\/\/liv.rent\/blog\/wp-content\/uploads\/2024\/11\/RentReport_GTA_2024_December_EN_Blog-5-1024x689.png\" alt=\"average rent per square foot broken down by city for the December 2024 liv rent Toronto Rent Report\" class=\"wp-image-61985\" srcset=\"https:\/\/liv.rent\/blog\/wp-content\/uploads\/2024\/11\/RentReport_GTA_2024_December_EN_Blog-5-1024x689.png 1024w, https:\/\/liv.rent\/blog\/wp-content\/uploads\/2024\/11\/RentReport_GTA_2024_December_EN_Blog-5-980x660.png 980w, https:\/\/liv.rent\/blog\/wp-content\/uploads\/2024\/11\/RentReport_GTA_2024_December_EN_Blog-5-480x323.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<br><h2 id=\"active-listings\">Active listing data<\/h2>\n\n\n\n<p>We&#8217;ll also look at detailed statistics for currently active listings available 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 December 2024, the most common rental property type in the Greater Toronto Area was apartments, representing the majority of all listings in the GTA at 86.29%. Partial Houses (e.g. basement suites) were the second-most common unit type this month, representing 8.31% 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\/11\/RentReport_GTA_2024_December_EN_Blog-11-1024x439.png\" alt=\"number of active listings by property type for the December 2024 liv rent report\" class=\"wp-image-61990\" srcset=\"https:\/\/liv.rent\/blog\/wp-content\/uploads\/2024\/11\/RentReport_GTA_2024_December_EN_Blog-11-1024x439.png 1024w, https:\/\/liv.rent\/blog\/wp-content\/uploads\/2024\/11\/RentReport_GTA_2024_December_EN_Blog-11-980x420.png 980w, https:\/\/liv.rent\/blog\/wp-content\/uploads\/2024\/11\/RentReport_GTA_2024_December_EN_Blog-11-480x206.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<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 more even spread across active listings on the market this December. Two-bedroom units were the most common type of listing in the GTA this month at 45.90%, while one-bedroom units represented 44.66% of the region&#8217;s active listings. Three-bedroom units make up the remaining 9.44%.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1024\" height=\"390\" src=\"https:\/\/liv.rent\/blog\/wp-content\/uploads\/2024\/11\/RentReport_GTA_2024_December_EN_Blog-10-1024x390.png\" alt=\"number of active listings by number of bedrooms for the December 2024 liv rent report\" class=\"wp-image-61991\" srcset=\"https:\/\/liv.rent\/blog\/wp-content\/uploads\/2024\/11\/RentReport_GTA_2024_December_EN_Blog-10-1024x390.png 1024w, https:\/\/liv.rent\/blog\/wp-content\/uploads\/2024\/11\/RentReport_GTA_2024_December_EN_Blog-10-980x373.png 980w, https:\/\/liv.rent\/blog\/wp-content\/uploads\/2024\/11\/RentReport_GTA_2024_December_EN_Blog-10-480x183.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<p><strong><em>Looking for our full December 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<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/landlords.liv.rent\/screening\/\" target=\"_blank\" rel=\"noreferrer noopener\"><img decoding=\"async\" width=\"1024\" height=\"278\" src=\"https:\/\/liv.rent\/blog\/wp-content\/uploads\/2024\/08\/2024-08-06-MRR-TrustScore-min-1024x278.jpg\" alt=\"Banner image Trust score\" class=\"wp-image-60833\" srcset=\"https:\/\/liv.rent\/blog\/wp-content\/uploads\/2024\/08\/2024-08-06-MRR-TrustScore-min-980x266.jpg 980w, https:\/\/liv.rent\/blog\/wp-content\/uploads\/2024\/08\/2024-08-06-MRR-TrustScore-min-480x130.jpg 480w\" sizes=\"(min-width: 0px) and (max-width: 480px) 480px, (min-width: 481px) and (max-width: 980px) 980px, (min-width: 981px) 1024px, 100vw\" \/><\/a><\/figure>\n\n\n\n<br><h2 id=\"city-breakdown\">City breakdown<\/h2>\n\n\n\n<p>This December, Brampton 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 Downtown 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 Brampton currently stands at $1,696, while in Downtown, the same type of unit rents for an average of $2,365 \u2013 a difference of $669 between the two.<\/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\/11\/RentReport_GTA_2024_December_EN_Blog-3-1024x674.png\" alt=\"highest and lowest rent in the GTA by neighbourhood via the December 2024 liv rent report\" class=\"wp-image-61987\" srcset=\"https:\/\/liv.rent\/blog\/wp-content\/uploads\/2024\/11\/RentReport_GTA_2024_December_EN_Blog-3-1024x674.png 1024w, https:\/\/liv.rent\/blog\/wp-content\/uploads\/2024\/11\/RentReport_GTA_2024_December_EN_Blog-3-980x645.png 980w, https:\/\/liv.rent\/blog\/wp-content\/uploads\/2024\/11\/RentReport_GTA_2024_December_EN_Blog-3-480x316.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<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><a href=\"https:\/\/liv.rent\/rental-listings\/city\/brampton\" target=\"_blank\" rel=\"noreferrer noopener\">Brampton <\/a>had the lowest average rental rates for all types of one- and two-bedroom units while <a href=\"https:\/\/liv.rent\/rental-listings\/city\/scarborough\" target=\"_blank\" rel=\"noreferrer noopener\">Scarborough<\/a> had the lowest rates for all types of three-bedroom units. <\/li>\n\n\n\n<li><a href=\"https:\/\/liv.rent\/rental-listings\/city\/scarborough\" target=\"_blank\" rel=\"noreferrer noopener\">Scarborough<\/a> saw prices decrease across all types of furnished and unfurnished units.<\/li>\n\n\n\n<li>Prices for unfurnished two-bedroom units fell in all areas except <a href=\"https:\/\/liv.rent\/rental-listings\/city\/markham\" target=\"_blank\" rel=\"noreferrer noopener\">Markham<\/a> and Vaughan-Richmond Hill this December. <\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1024\" height=\"684\" src=\"https:\/\/liv.rent\/blog\/wp-content\/uploads\/2024\/11\/RentReport_GTA_2024_December_EN_Blog-7-1024x684.png\" alt=\"average rent for unfurnished one, two and three bedroom units in the Greater Toronto Area - broken down by city\/municipality for the December 2024 liv rent report\" class=\"wp-image-61983\" srcset=\"https:\/\/liv.rent\/blog\/wp-content\/uploads\/2024\/11\/RentReport_GTA_2024_December_EN_Blog-7-1024x684.png 1024w, https:\/\/liv.rent\/blog\/wp-content\/uploads\/2024\/11\/RentReport_GTA_2024_December_EN_Blog-7-980x655.png 980w, https:\/\/liv.rent\/blog\/wp-content\/uploads\/2024\/11\/RentReport_GTA_2024_December_EN_Blog-7-480x321.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<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1024\" height=\"684\" src=\"https:\/\/liv.rent\/blog\/wp-content\/uploads\/2024\/11\/RentReport_GTA_2024_December_EN_Blog-6-1024x684.png\" alt=\"average rent for furnished one, two and three bedroom units in the Greater Toronto Area - broken down by city\/municipality for the December 2024 liv rent report\" class=\"wp-image-61984\" srcset=\"https:\/\/liv.rent\/blog\/wp-content\/uploads\/2024\/11\/RentReport_GTA_2024_December_EN_Blog-6-1024x684.png 1024w, https:\/\/liv.rent\/blog\/wp-content\/uploads\/2024\/11\/RentReport_GTA_2024_December_EN_Blog-6-980x655.png 980w, https:\/\/liv.rent\/blog\/wp-content\/uploads\/2024\/11\/RentReport_GTA_2024_December_EN_Blog-6-480x321.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<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 looked at 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\/london\" target=\"_blank\" rel=\"noreferrer noopener\">London<\/a> is the least expensive to rent in this December for all types of unfurnished units. <a href=\"https:\/\/liv.rent\/rental-listings\/city\/toronto\">Downtown Toronto<\/a> is the most expensive for one- and two-bedroom unfurnished units and Vaughan-Richmond Hill is the most expensive for three-bedroom units.<\/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\" aria-label=\"here (opens in a new tab)\">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\/11\/RentReport_GTA_2024_December_EN_Blog-9-977x1024.png\" alt=\"average rent by municipality or city outside of the Greater Toronto Area via the December 2024 liv rent report\" class=\"wp-image-61992\"\/><\/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 December, four of Canada&#8217;s five most expensive cities are located in Metro Vancouver with one being located in the GTA. <a href=\"https:\/\/liv.rent\/rental-listings\/city\/burnaby\/\" target=\"_blank\" rel=\"noreferrer noopener\">West Vancouver<\/a> is the most expensive city in the country to rent in, followed by <a href=\"https:\/\/liv.rent\/rental-listings\/city\/north-vancouver\/\" target=\"_blank\" rel=\"noreferrer noopener\">North Vancouver<\/a>, <a href=\"https:\/\/liv.rent\/rental-listings\/city\/vancouver\/\" target=\"_blank\" rel=\"noreferrer noopener\">Vancouver<\/a>, <a href=\"https:\/\/liv.rent\/rental-listings\/city\/markham\" target=\"_blank\" rel=\"noreferrer noopener\">Markham<\/a> and  <a href=\"https:\/\/liv.rent\/rental-listings\/city\/burnaby\/\">Burnaby<\/a>.<\/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\/11\/RentReport_Vancouver_2024_December-EN_Blog-5-1024x491.jpg\" alt=\"Canada's most expensive cities December 2024\" class=\"wp-image-62004\" srcset=\"https:\/\/liv.rent\/blog\/wp-content\/uploads\/2024\/11\/RentReport_Vancouver_2024_December-EN_Blog-5-980x469.jpg 980w, https:\/\/liv.rent\/blog\/wp-content\/uploads\/2024\/11\/RentReport_Vancouver_2024_December-EN_Blog-5-480x230.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<h2 class=\"wp-block-heading\">Downloadable resources<\/h2>\n\n\n\n<p>Our complete December 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>\r\n<style>\r\n.button-rethink-way-you-rent-monthly-report {\r\n  background-color: #7495AC;\r\n  border: 5px #26425C;\r\n  color: white;\r\n  padding: 10px 30px;\r\n  text-align: center;\r\n  text-decoration: none;\r\n  display: inline-block;\r\n  font-size: 15px;\r\n  margin: 5px 0px 20px 0px;\r\n}\r\n<\/style>\r\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;\">\r\n\r\n<h2 style=\"color: #3E5B77;\">Rethink The Way You Rent<\/h2>\r\n\r\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>\r\n\r\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>\r\n\r\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>\r\n\r\n<a href=\"https:\/\/liv.rent\/blog\/rent-reports\/may-2024-metro-vancouver-rent-report\/\" target=\"_blank\" rel=\"noopener noreferrer\">May 2024 Metro Vancouver Rent Report<\/a><br>\r\n\r\n<a href=\"https:\/\/liv.rent\/blog\/rent-reports\/may-2024-toronto-rent-report\/\" target=\"_blank\" rel=\"noopener noreferrer\">May 2024 Toronto Rent Report<\/a><br>\r\n\r\n<a href=\"https:\/\/liv.rent\/blog\/rent-reports\/may-2024-calgary-edmonton-rent-report\/\" target=\"_blank\" rel=\"noopener noreferrer\">May 2024 Calgary &amp; Edmonton Rent Report<\/a>\r\n\r\n<br>\r\n<a href=\"https:\/\/liv.rent\/blog\/rent-reports\/may-2024-montreal-rent-report\/\" target=\"_blank\" rel=\"noopener noreferrer\">May 2024 Montreal Rent Report<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>At a glance As of December 2024, the City of Toronto\u2019s average monthly rent price for an unfurnished one-bedroom saw a YoY drop of $123 to a new monthly average of $2,161 this month. We\u2019ve published our 2024 Canada Rental Market Trend Report with an in-depth analysis of average rent prices, driving factors, and predictions [&hellip;]<\/p>\n","protected":false},"author":42,"featured_media":61989,"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>December 2024 Toronto Rent Report | liv.rent blog<\/title>\n<meta name=\"description\" content=\"liv.rent&#039;s December 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\/december-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=\"December 2024 Toronto Rent Report | liv.rent blog\" \/>\n<meta property=\"og:description\" content=\"liv.rent&#039;s December 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\/december-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=\"2024-12-09T20:02:40+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-02-26T18:30:39+00:00\" \/>\n<meta property=\"og:image\" 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