If you’re trying to keep up with Toronto rent prices, you might have noticed a bit of a dip recently — yes, really.
While the city’s cost of living remains exceptionally high, Toronto’s rental market has been seeing a cool-down over the last few months, giving locals and would-be transplants a bit of hope that they might finally find a more affordable place to live — whether that’s a cheaper unit in the city or a budget-friendly spot elsewhere in the GTA.
According to the latest Toronto rent report from liv.rent, the cost of renting an unfurnished one-bedroom apartment in the city has dropped by $140 compared to this time last year, bringing the average down to $2,133 per month in March 2025. But even with this decline, living in Toronto isn’t exactly cheap, and depending on where you look in the GTA, some areas are definitely more affordable than others.
Whether you’re thinking about moving, renegotiating your current rent or just curious about how your neighbourhood stacks up, this breakdown shows exactly how much money you’d need to make to comfortably afford a one-bedroom apartment in different parts of the GTA.
Where can you afford to rent in the GTA?
To figure out affordability, we’re using the Government of Canada’s suggested 35% rule — meaning that your rent should ideally take up no more than 35% of your before-tax income.
Using this guideline, here’s what annual salary you’d need to afford to rent an unfurnishes one-bedroom apartment in different areas of Toronto and the GTA (plus the nearby cities of Kitchener and London):
- Markham: $2,274 average rent; $77,966 minimum salary
- Oakville: $2,242 average rent; $76,869 minimum salary
- Etobicoke: $2,229 average rent; $76,423 minimum salary
- Downtown Toronto: $2,206 average rent; $75,634 minimum salary
- Mississauga: $2,197 average rent; $75,326 minimum salary
- North York: $2,173 average rent; $74,503 minimum salary
- Vaughan-Richmond Hill: $2,169 average rent; $74,366 minimum salary
- Scarborough: $2,129 average rent; $72,994 minimum salary
- Burlington: $2,046 average rent; $70,149 minimum salary
- York: $2,034 average rent; $69,737 minimum salary
- East York: $2,028 average rent; $69,531 minimum salary
- Milton: $2,007 average rent; $68,811 minimum salary
- Brampton: $1,873 average rent; $64,217 minimum salary
- Oshawa: $1,770 average rent; $60,686 minimum salary
- Kitchener: $1,732 average rent; $59,383 minimum salary
- London: $1,662 average rent; $56,983 minimum salary
The data shows that, for the sixth straight month, Markham is the most expensive place to rent in the GTA, surpassing even Downtown Toronto. Oakville and Etobicoke also remain more expensive than downtown, a trend that began last month as prices in the city centre continue to fall at a faster rate than those in affluent suburban areas.
Meanwhile, Oshawa remains the most affordable option in the GTA proper, with nearby cities like Kitchen and London offering even cheaper prices.
How is the Toronto rental market shifting?
According to liv.rent, the cost of renting across the GTA has been on a downward trend, with the average price for an unfurnished one-bedroom dropping by $66 in the last six months alone. Month-to-month, certain areas saw significant shifts — Brampton had the steepest drop in rental prices (-8.00%), while Vaughan-Richmond Hill saw the biggest increase (+1.92%).
If you’re currently renting in Toronto and paying well above these averages, it might be time to renegotiate with your landlord or start looking for a new place. And if you’re considering moving outside of the city, there are definitely some areas where you can save big on rent without straying too far from the action.
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