A new report has broken down Toronto rent prices in 2021 by neighbourhood after analyzing rent data from January to April 2021.

Toronto Rentals recently published their GTA May Rent Report and it offers insight into which Toronto neighbourhoods are the cheapest and which are the most expensive for renting.

Toronto Rentals

Renting an apartment or condo in Rosedale-Moore Park will cost you the most, according to the report, at approximately $2,308 a month. Next is Palmerston-Little Italy at $2,235 and Dufferin Grove at $2,203.

On the other end of the spectrum, the cheapest average rentals are in South Parkdale at $1,669 a month, followed closely by North St. James Town at $1,691 and East End-Danforth at $1,705.

Every single neighbourhood had one thing in common, though — they're costing less year over year. The most drastic changes were in Yonge-St. Clair, where rent dropped 39%, and Palmerston-Little Italy and Forest Hill North at 31%.