Ontario rent prices plummeting but these places actually got more expensive

Toronto's once-competitive rental market might finally be showing signs of relief, according to new data that shows declining rents across much of the city, particularly in the downtown core, even as prices continue to climb in some suburban communities across Ontario. 

According to liv.rent's December 2025 Ontario Rent Report, the average rent for an unfurnished one-bedroom apartment in Toronto had fallen year over year, representing a significant shift from the rapid increases seen throughout much of 2023 and early 2024. 

In downtown Toronto, the average rent for these types of units dropped from $2,365 last December to $2,090 this December, representing an 11.6 per cent decline. Similar price drops were also observed in North York and Etobicoke, which saw rent prices drop by 8.3 per cent and 8.7 per cent, respectively. 

Ontario rent prices, year-over-year. 

Despite prices cooling off in some markets, suburban rents in Ontario are notably on the rise. The average rent for an unfurnished one-bedroom apartment in Brampton rose from $1,696 per month to $1,844 this December, and Milton saw prices increase from $1,828 per month to $1,912 this month. 

Mississauga and Vaughan-Richmond Hill witnessed the most premium prices, with unfurnished three-bedroom units in Mississauga averaging $3,073 per month, and the same units running for $3,111 per month in Vaughan-Richmond Hill this December. 

Rent price changes in GTA cities between November and December 2025.

As of this month, the City of Toronto's average monthly rent price for a one-bedroom apartment saw a year-over-year drop of $175 to an average of $1,986 this December. Compared to November, average rent prices for these units dropped by $23. 

Overall, downtown Toronto still had the highest rent per square foot ($4.80/sq. ft), followed by Etobicoke ($4/sq. ft.).

Rent prices by unit type across the GTA in December 2025.

Looking across the GTA, Oshawa was the cheapest municipality to rent this month ($1,570 for an unfurnished one-bedroom unit), while Oakville is the region's most expensive ($2,125 for an unfurnished one-bedroom unit). 

Throughout the region, all prices for unfurnished two-bedroom units decreased, and all unfurnished three-bedroom apartments decreased in rent price, except for Brampton, downtown Toronto, and Etobicoke.