toronto apartment rentals

Toronto rental rates fastest growing in Canada

Toronto's rental housing market is downright scary right now, and there are few signs that affordability will improve in the near future. After significant price gains over the last two months, March rental rates show the highest percentage increase so far this year.

According to data complied by apartment listings website Padmapper, the median cost to rent both a one and two bedroom apartment in Toronto has increased by 4.9 percent in March. That compares with 4.5 percent (one bedroom) and 4.6 percent (two bedroom) last month

In January, the rate of increase was 3.3 and 3.7 percent, respectively. To start the year, the median price of a one bedroom in Toronto was $1,550 and a two bedroom came in at $1,970. Now Padmapper has those prices at $1,700 and $2,160, respectively.

Do you see a troubling trend? Rents were already way up last year, and the numbers are only climbing.

Despite these increases, Toronto has yet to become the most expensive rental market in Canada. That title still goes to Vancouver, though its rate of increase flat lined over the last month. The median price of a one and two bedroom stayed at $1,900 and $3,130.

Other cities also experienced major price increases for March. Kingston's one bedroom apartment stock jumped 5.3 percent to $990 but its two bedrooms were a bit cooler at 3.6 percent growth for a median of $1,180.

Lead photo by

Michael Muraz


Join the conversation Load comments

Latest in City

Toronto business owners ask Ford to prohibit big box stores from selling non-essential items

Doug Ford's office denies rumours that he was at his cottage this weekend

Explosive fire ravages Toronto homeless encampment

Ontario just extended emergency orders for another 30 days

Big box blitz finds 36 stores violating Ontario lockdown orders

Dozens of charges laid at anti-lockdown protests in Toronto over the weekend

This is how people are helping thousands of feral cats in Toronto

East Point Park is one of the largest natural wonders along Toronto's waterfront