Cost to rent 1,000 sq. ft. unit in Toronto now over $3K, says new report

A new real estate report shows that housing prices in GTA have skyrocketed and are back to pre-pandemic rates.

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recent information Bullpen Research & Consulting and torontorentals.com show that the consolidated average cost for combined rental units and condos in downtown Toronto is $2,325 per month, a 15.9 percent annual increase.

The price tag is very high when square footage is taken into account, as Toronto has so far seen the most dramatic increase in rent prices in GTA.

How much is the rent in Toronto?

Rental rates in Toronto have skyrocketed compared to any other city in the GTA. Here’s how the situation is right now.

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$2,065 A bed

Average monthly rent for a one-bedroom unit in Toronto.

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$2,849 two beds

Average monthly rent for a two-bedroom unit in Toronto.

$3,347 three beds

Average monthly rent for a three-bedroom unit in Toronto.

$2,428 average

Average monthly rent for all unit arrangements in Toronto.

Source: torontorentals.com

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