These Ontario Spots Are Some Of The Cheapest Places To Rent RN & 1 Of Them Is In The GTA

Finding a cheap place to rent in Ontario isn't always easy. However, there are some spots around the province where your money will get you a lot more bang for your buck.

In fact, according to Rentals' January 2022 Rent Report, a reasonably-priced haven has popped up in the notoriously expensive area of the GTA.

As of 2022, the average one-bedroom in Scarborough is $1,487, with two-bedroom units listed at $1,911 after seeing a 0.40% and 1.95% decrease month-to-month.

The surprising rates have placed Scarborough 20th on the national rent rankings, with places like Kitchener and Hamilton reporting more expensive pricing.

Other budget-friendly rentals in the province for one and two-bedrooms include Greater Sudbury, ($1,424, $,1,895), London, ($1,431, $1,632), and Niagara Falls ($1,479, $1,886).

Meanwhile, the most expensive places in Ontario are Toronto ($2,013, $2,715), Etobicoke ($1,857, $2,408) and Mississauga ($1,772, $2,140), which were also some of the highest prices in the country, with their rates beaten only by Vancouver.

Vancouver continues to top the charts as the most expensive place to live in Canada, with average prices for a one-bedroom sitting at $2,176 and a two-bedroom at $2,983. The B.C. spot has seen one-bedrooms skyrocket 2.06% month-to-month and 13.22% since this time last year.

"The areas with the largest increase in average rent were in the downtown west area, and along Yonge Street near Bloor," the report states in its conclusion.

"The rental market has posted an annual increase in average monthly rental rates for four months in a row," it adds.