Toronto Rentals has released its Toronto GTA January Rent Report, which says the average rent went down by 0.8% in December 2021, marking the first decline in prices since April 2021.
The average rent in December 2021 was $2,150 per month for all property types in the GTA, according to the report.
The cheapest location for a one-bedroom in the GTA in December 2021 was in Scarborough, with average rent for a one-bedroom unit costing $1,487 per month. Unsurprisingly the most expensive location was in Toronto, with the average rent of a one-bedroom landing at $2,013.
The five cheapest to rent a one-bedroom in the GTA in December 2021 are as follows:
Scarborough, $1,487Whitby, $1,516East York, $1,580Milton, $1,599Vaughan, $1,602
The five most expensive areas to rent a one-bedroom in the GTA in December 2021 are as follows:
Toronto, $2,013Oshawa, $1,917Oakville, $1,905Etobicoke, $1,857Burlington, $1,838