GTA Rent Report for February<\/a>, liv.rent stated that average prices for one-bedroom rentals rebounded following a massive dip in January. Although downtown Toronto and Etobicoke helped to send prices up, on the aggregate, most GTA cities have seen notable increases since the previous month.<\/p>\nFebruary rental prices for one-bedroom unfurnished properties in the GTA have climbed to $1,790, up $112 from January\u2019s low of $1,678 and $24 more than December\u2019s 2021 average of $1,766. According to liv.rent, the sudden recourse in GTA rental prices may mean that the drop in January rental costs \u201cmay have been an anomaly, after all.\u201d<\/p>\n\n
Etobicoke, Vaughan-Richmond Hill and Mississauga reported the highest price increases to one-bedroom unfurnished rentals, which grew 22.23 per cent, 5.43 per cent and 8.15 per cent month-to-month. In downtown Toronto, prices in this category were up 4.57 per cent monthly.<\/p>\n
For February, this makes Etobicoke the most expensive GTA neighbourhood for an unfurnished one-bedroom rental property, worth $2,145. Downtown Toronto followed behind in second place with an average rental cost of $1,910 for the same rental type, and was reported to have the most expensive unfurnished two- and three-bedroom rentals for February at $2,480 and $3,183.<\/p>\n
Brampton retained its title as the least expensive place to rent an unfurnished one-bedroom home, which you can lease for an average of $1,544. The cheapest unfurnished two-bedroom rentals could also be found there for $1,830 a month, while Scarborough offers the least expensive three-bedroom rentals for February at $2,418.<\/p>\n
For furnished one-bedroom rental homes, prices climbed 13.38 per cent, 12.19 per cent and 5.02 per cent month-to-month in Etobicoke, North York and downtown Toronto. Vaughan-Richmond Hill reported a steep monthly price drop of 18.02 per cent for rentals the same category.<\/p>\n
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SEE ALSO:<\/span>GTHA purpose-built rental market sees \u201cincreasingly competitive\u201d conditions in Q4-2021: Zonda Urban<\/a><\/strong>\r\n <\/div>\nAcross the board, downtown Toronto had the most expensive furnished one-, two- and three-bedroom rentals for February, now valued at $2,069, $3,032 and $3,869. Brampton reported the cheapest furnished one-bedroom rentals at $1,320, while Scarborough had the lowest two- and three-bedroom prices of $1,647 and $2,256.<\/p>\n
Across the GTA, the average rent for a one-bedroom furnished rental\u00a0\u2014 valued at $1,734\u00a0\u2014 eclipsed the price of a one-bedroom unfurnished rental, which is now worth $1,790.<\/p>\n
\u201cOnce again, we\u2019re seeing that furnished one-bedroom units are cheaper on average than their unfurnished counterparts \u2013 with the latter more affordable by $56 this February,\u201d explained the report.<\/p>\n
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<\/a>Photo:\u00a0Vadim Rodnev<\/a> \/ Adobe Stock<\/em><\/p>\n