Average rent for one-bedroom over 2K
Fall is not bringing any relief to Toronto renters, according to one data source.
Average rent for a one-bedroom apartment has hit the $2,000 mark, according to apartment finding website PadMapper.
The site analyzed 5,418 listings in Toronto and found the average rent was up 5.26 per cent in September, compared to August, for one-bedroom apartments.
Studios were up almost 27 per cent to $1,650, and two-bedrooms were up six per cent to $2,650.
In July, a separate study by condo market research firm Urbanation found the average Toronto apartment rent rose 11 per cent year-over-year to $2,000.
At the time, Urbanation president Shaun Hildebrand linked the increase to the Ontario government’s new housing measures introduced in April.