toronto apartment rental

Average price of one bedroom apartment in Toronto reaches $1500

The price of a Toronto apartment has reached a depressing new landmark for would-be renters out there. According to PadMapper's most recent rent report, the average cost of a one bedroom rental has hit the $1,500 mark.

That's up 4.9 per cent from $1,430 last month. Two bedrooms aren't any more palatable, coming in at an average of $1,900 for December. These numbers keep Toronto just behind Vancouver's rental market, which remains the most expensive in the country.

With the Toronto real estate market surpassing Vancouver's as the hottest in the country, we could, however, see rental rates in both cities get closer and closer. Month over month, Vancouver's one bedroom units only increased 1.1 per cent to $1,800.

Now, more than ever, is a good time to know what neighbourhoods offer the best bang for your buck for rentals. Good luck apartment hunting out there — it's a scary market.

Lead photo by

Lori Whelan


Join the conversation Load comments

Latest in City

Fox News sparks anger with Toronto shooting coverage

Toronto stunned by mass shooting on the Danforth

The garden car might be Toronto's most unusual landmark

The 35 most iconic photos you can take in Toronto

blogTO is now on WeChat and Weibo

The mist garden is one of Toronto's secret cooling spots

5 of the strangest things to ever happen in Toronto

The guy behind the King St. middle finger is running for city council