Toronto rent prices fell again last month but multi-bedroom units could be getting more expensive: report

Toronto's average rent fell 1.8% to $2,571, continuing a multi-year decline, but rents for two- and three-bedroom units rose by 0.3% and 3.5%, respectively. Nationally, average rent dropped 4.8% to $2,035, the lowest since 2022. Toronto ranked as the fourth most expensive rental market in Canada. The rental market outlook is uncertain due to potential impacts from the U.S. trade war on business and construction costs.