TORONTO, May 05, 2021 (GLOBE NEWSWIRE) — liv.rent has published its new Toronto Rental Market Q1 2021 Report. The online rental platform, which collects rental market data every month for Toronto, Vancouver, and Montreal, is providing the report free for everyone to see.
Both renters and landlords will find the data in this report extremely valuable. It tracks the changes in the rental market for the first quarter of 2021 and compares it with the first quarter of 2020. It offers an incredible glimpse by the numbers of the effects COVID-19 had on the cost of rent across the city.
This report provides a breakdown of the changes in each GTA neighbourhood: Downtown Toronto, North York, Etobicoke, Scarborough, Markham, Mississauga, Brampton, and Vaughan/Richmond Hill.
A glimpse of what’s in the full report:
- Downtown Toronto rent for furnished units dropped 25%, unfurnished dropped 18%.
- Etobicoke was the only GTA neighbourhood that saw a rental increase, up 0.3% for furnished one-bedrooms.
- The biggest percentage drop in rental prices in Toronto was for three-bedrooms, it dropped -14.9% for furnished units and -13.9% for unfurnished units.
liv.rent’s next upcoming Quarterly Report will provide even more insights into the changes that COVID-19 had on the Toronto rental market by comparing Q2 2020 to what we’re seeing now in Q2 2021.
Rental Data Methodology
liv.rent invests in a unique manual data collection process, combining data from popular listing sites with its own extensive proprietary data. Through this process of excluding duplicate postings, luxury rentals, and rooms and by ascertaining up-to-date asking rents, liv.rent has created the most accurate monthly rent report in Canada.
A PDF version of the 23-page report can be downloaded here.
Journalists may share this link https://landing.liv.rent/to-rentreport/ with their audience should they wish to download the report.
Note to the media: this report may not be disseminated in its entirety. We welcome you to share and post tables and data set with credit on your channels, and you can contact us for additional assets.
Deciding where you live should be a safe and joyful experience. Instead, the rental landscape is so full of stress and scammers that it can feel like a never-ending battle to secure the perfect home.
We are liv.rent — a group of renters and landlords who knew there had to be a better way. So, we created solutions for each step of the rental process to help everyone save time and energy. Now, we provide a better way to rent across Canada with a safe network of trusted landlords.
For more information, and assets for journalists, please contact