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toronto rent prices

If you feel like renting in Toronto is a substantial financial commitment, you're not wrong — but new numbers suggest things are (kind of) calming down.

According to liv.rent's June 2025 data, average rent prices in Toronto have dipped slightly, giving renters in the city a small window to breathe.

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The opinions expressed in this article are the author's own and do not necessarily reflect the views of Narcity Media.

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Looking to rent a one-bedroom unit in the GTA for under $2,000 while keeping the big city accessible? Well, you might want to invest in a good audiobook to keep you company during the commute. With Toronto's housing and rental market acting like a steamy romance novel – high on drama and light on affordability – the search for affordable digs takes us further afield.

According to the August 2023 report by Liv.Rent, Oshawa holds the budget-friendly title with an average price of $1,705 for an unfurnished one-bedroom unit. Meanwhile, Downtown Toronto rent remains the diva of expensive living, demanding $2,530 on average – a difference of $825 a month.

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If you live in Toronto, you'll know a thing or two about high rent prices. The city is certainly not cheap when it comes to cost of living and you may start sweating every time the first of the month comes around.

According to Zumper, the average rent for a one-bedroom apartment in Toronto is $2,405 as of July 2023. This is a whopping 25% increase from the year before.

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Toronto's rental market has experienced an astonishing surge, with average rent prices skyrocketing by over 40% since 2021.

The latest National Rent Report by Rentals.ca reveals the staggering increase in rental costs, shedding light on the current state of Toronto's housing market.

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