Everything seems to be getting more expensive these days, so you may be surprised to learn that GTA rent prices have actually gone down for the first time in months.
According to real estate platform liv.rent, the average rent for an unfurnished, one-bedroom unit in the GTA has fallen by $55 month-to-month, for the first time since March.
Brampton continues to hold strong as one of the cheapest cities in the GTA for renting.
According to liv.rent, the average price for an unfurnished one-bedroom unit in Brampton dropped to $1,673.
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Meanwhile, the same type of unit goes for $2,433 in downtown Toronto, a staggering difference of $760.
Rent prices also dropped by 1.52% in Scarborough, where the average unfurnished one-bedroom goes for $1,895 per month.
It’s not all good news for GTA renters, though. Some cities around Toronto saw major price increases this month.
Vaughan-Richmond Hill prices rose by 8%, the biggest month-to-month increase this November, followed by Mississauga with a 4.58% increase.
Here are the cheapest cities to rent an unfurnished one-bedroom in the GTA right now, according to liv.rent:
- Oshawa: $1,647 per month
- Brampton: $1,673 per month
- Milton: $1,821 per month
- Scarborough: $1,895 per month
- East York: $1,908 per month
- Markham: $1,984 per month
- Vaughan-Richmond Hill: $1,956 per month
Sadly, rent prices in Toronto haven’t stopped climbing. The price for an unfurnished, one-bedroom in the downtown core rose by 2.3% this month.
If you’re ready to ditch the city for cheaper living costs while still being a GO Train ride away from downtown, you know where to look!
