Over the past year, fast-moving market dynamics, including high inventory and significant price adjustments, have given renters in the Toronto area more options than ever before.
To put this into perspective, Toronto saw average rents decline every month in 2020, as well as January and February of 2021, with the average rent down by $467 annually to $1,987 in March -- down 19%, compared to $2,454 in 2020 and $2,417 in 2019, according to the latest data from Rentals.ca.
As such, renters have negotiating power and more options now, which was typically unheard of before COVID took hold. And while rents in Toronto are still relatively high compared to the rest of the Canadian real estate market, it is a welcomed relief for renters who have been paying sky-high prices for the opportunity to reside in Canada’s largest city.
That being said, with prices in the downtown core still relatively high, renters are turning to areas outside of the city for more affordable -- and spacious -- options.
READ: Average Canadian Rents are Down, Rental Market Showing Signs of ‘Hitting Bottom’
To get a better understanding of what rental units renters are eyeing up these days, and where they want to live, we’ve rounded up the most-viewed rentals in GTA areas surrounding the downtown core -- which includes East York, Etobicoke, York, North York, and Scarborough -- from April 1 to 13, according to data from our friends at Rentals.ca.
The data is broken down into different rental unit segments, including apartments and condos, and then broken down by 1, 2, and 3+ bedroom units. The 3+ units for rent are for any type (house, condo, and apartment).
Most Viewed 1-Bedroom Apartment: 1004 Lawrence Avenue East
1004 Lawrence Avenue East/Rentals.ca
- Location: North York
- Specs: 1-bedroom, 1-bathroom
- Price: $1,525
- Building: Lawrence Apartments
- Description: Located in a quiet building that's centrally located at Don Mills and Lawrence, with public transit right in front of the building, this rental features an open living area, a spacious bedroom with a large closet, and comes with a stove and frost-free refrigerator. Water and heat are also included in the monthly rent.
Other sought-after 1-bedroom apartment options:
- 19 Rosseau Road - North York
- 1185 The Queensway - Etobicoke
- 28 Cosburn Avenue - East York
- 5 Kinsdale Boulevard - Etobicoke
Most Viewed 2-Bedroom Apartment: 12 Deerford Road
12 Deerford Road/Rentals.ca
- Location: North York
- Specs: 2-bedroom, 1-bathroom
- Price: $1,860
- Building: Deerford Road Apartments
- Description: Located in Deerford Road Apartments, which is conveniently located at Don Mills and Sheppard and is just steps away from Fairview Mall, this 2-bedroom unit is bright and airy, has a balcony, and an open-concept living and kitchen space that features stainless steel appliances, dark chocolate cupboards, and ample storage. Monthly rent includes water and heat and a deposit is not required for last month's rent.
Other sought-after 2-bedroom apartment options:
Most Viewed 1-Bedroom Condo: 153 Beecroft Road
153 Beecroft Road/Rentals.ca
- Location: North York
- Specs: 2-bedroom, 1-bathroom, 490-sq.ft
- Price: $1,600
- Building: The Broadway
- Description: This 1-bedroom condo features an open-concept living/dining area, has a spacious balcony where you can take in the surrounding city views, and comes with a parking spot. The building itself features a concierge service, a fitness centre, meeting rooms, a party lounge, a sauna and swimming pool, security, and visitor parking.
Other sought-after 1-bedroom condo options:
- 4208 Dundas Street West - Etobicoke
- 181 Village Green Square - Scarborough
- 1 Michael Power Place - Etobicoke
- 238 Bonis Ave - Scarborough
Most Viewed 2-Bedroom Condo: 1603 Eglinton Avenue West
1603 - Eglinton Avenue West/Rentals.ca
- Location: York
- Specs: 2-bedroom, 2-bathroom, 775-sq.ft
- Price: $1,950
- Building: Empire Midtown Condos
- Description: This 2-bed, 2-bath suite has never been lived in and is described as a "modern urbanite's dream." Centrally located to the Eglinton LRT, the building is close to restaurants, shops, services, and schools, while the unit is pet-friendly, has a spacious floor plan, and a balcony.
Other sought-after 2-bedroom condo options:
- 20 Thomas Riley Road - Etobicoke
- 1300 Islington Avenue - Etobicoke
- 3 Massey Square - East York
- 1 Neighbourhood Lane - Etobicoke
Most Viewed 3+ Bedroom Units: Painted Post Drive
Painted Post Drive/Rentals.ca
- Location: Scarborough
- Specs: 3-bedroom, 1-bathroom, 1,500-sq.ft
- Price: $2,400
- Type: House
- Description: This spacious 3-bedroom home has large windows offering lots of natural light, with a huge yard and deck in the back. Ensuite laundry and parking are also included, while hydro/electricity, heating, and water are included in the monthly rent.
