CHAPTER 3: COST OF RENTING

As rental rates can vary significantly across regions – even within a city – it is hard to accurately determine what your costs will be. Your costs will really depend on market conditions at the time you are looking for a rental property. We suggest you visit our website to get up-to-date market data and to view current rental listings.

 

Rental Rates for Toronto (Average Rent Q1 2018)

For illustrative purposes, we’ve provided data from the first quarter of 2018 to give you a rough estimate.

Bachelor – $1,657 per month

1 Bedroom – $1,995 per month

2 Bedroom – $2,653 per month

3 Bedroom – $3,344 per month

 

Disclaimer: these rates are averages based on TREB data as of Q1 2018 and are for illustrative purposes only. Rent pricing is based on the average cost of an apartment per category type (bachelor, 1 bedroom, etc.). Rent will vary depending on the property type, size, location, and other features.

 

We encourage you to visit our website at www.NestandCastle.com to view up-to-date statistics, including average rental rates, neighbourhood values and trends, walkability scores, and other valuable demographic data.

 

Utilities

Depending on your lease, you may have to pay for utilities yourself. In general, utilities (electricity, heating, air conditioning, and water) will cost approximately $200 per month. If you are living in a newer condominium, you likely will only have to pay for electricity. All other utility charges are covered by the condo fees, which are generally paid by the landlord.