Looks like the days of record-low rent prices in the GTA are officially history. A new report by Rentals.ca shows that rent prices in Toronto and throughout the GTA have been creeping back up. Thankfully, the report also shows which areas are still the cheapest to live in.

Overall, Scarborough was the city with the cheapest rent in January 2022 at  $1,499 for a one-bedroom, which is down 3.5% compared to this time last year. On average, residents of Scarborough are paying $1,911 per month for a two-bedroom rental.

After that, the second-cheapest city in the GTA for renting is Brampton at $1,552 for a one-bedroom, which is down 4.3% compared to last month. Two-bedroom rentals in Brampton cost $1,878 on average.

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Markham is the third-cheapest city to rent a one-bedroom apartment according to the January report. The price is $1,556 on average, which is down a whopping 7.8% year-over-year. The price of a two-bedroom is a bit pricier, however, at $2,107 per month.

According to Rentals.ca, one-bedroom rentals in East York cost $1,587 on average in January, and the average monthly rent for a two-bedroom was $2,118.

Next on the list is Vaughan at $1,603 per month for a one-bedroom rental and two bedrooms at $2,142 per month.

Here are the rest of the cities and their average prices, according to the report:

North York

One bedroom: $1,705
Two bedroom: $2,127

York

One bedroom: $1,748
Two bedroom: $2,235

Oshawa

One bedroom: $1,849
Two bedroom: $1,739

Mississauga

One bedroom: $1,778
Two bedroom: $2,179

Richmond Hill

One bedroom: $1,806
Two bedroom: $2,254

Burlington

One bedroom: $1,851
Two bedroom: $2,317

Etobicoke

One bedroom: $1,857
Two bedroom: $2,424

If you’re willing to live outside of the downtown core, you could save some serious cash by living in one of the GTA’s cheapest cities for renting. Or, you could join the growing number of folks moving all the way to North Bay.

Curiocity Staff

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