It is possible that the real estate market in Toronto is finally being quieted and prices adjusting to what is really fair. Although for the rental sector, this does not seem to be the reality. According to surveys conducted around 25 cities in Canada, whose goal was to compare the rental prices of a 1 or 2-bedroom property, Toronto ranked 2nd as the most expensive city, just behind Vancouver.  

Position

City

1 bedroom

2 bedrooms

1st

Vancouver

$1,940

$3,240

2nd

Toronto

$1,750

$2,250

3rd

Victoria

$1,240

$1,450

4th

Montreal

$1,140

$1,410

5th

Barrie

$1,100

$1,390

6th

Ottawa

$1,070

$1,330

7th

Kingston

$1,040

$1,190

8th

Kelowna

$1,020

$1,600

9th

Calgary

$1,010

$1,260

10th

Oshawa

$980

$1,250

  Since April of this year, the rental price of a 1-room dwelling increased 2.3% to $ 1,790. Prices for a 2-bedroom property increased 2.2% to $ 2,300. Year after year, these numbers have risen 14.7% and 15%, respectively. If you are thinking of moving to Toronto and need to rent a home while you settle, do not hesitate to contact me and I will gladly help you and offer you the best option that suits your needs.