Rental Market Report
TREB Releases Q1 2020 Condo Rental Market Stats
Greater Toronto Area REALTOS® reported 7,192 condominium apartment rentals through TREB’s MLS® System in the first quarter of 2020. This result was up by 8.6 percent compared to the first quarter of 2019.
The number of condominium apartments listed for rent at some point during Q1 2020 was up by 31.9% compared to Q1 2019.
With the number of condominium apartments listed increasing on a year-over-year basis by a greater rate than rental transactions, the year-over-year pace of average rent growth has moderated.
The average one-bedroom condominium apartment rent was $2,187 in Q1 2020, up 2.1 per cent from Q1 2019. The average two-bedroom condominium apartment rent was $2,811, in line with the Q1 2019 result.
In conjunction with TREB's redistricting project, historical data may be subject to revision moving forward. This could temporarily impact per cent change comparisons to data from previous years.