Are Toronto rents going down?

Posted by KindUser9851 • October 3, 2026 • 3 comments

Are Toronto rents actually going down? Has anyone else noticed rents starting to come down a bit in Toronto? I’ve been looking at listings lately and I swear I’m seeing way more places around the $1,800 to $2,000 range than before. I’m also seeing a lot more landlords offering one month free, sometimes even more, or throwing in utilities and other incentives. Even some 2 bedroom places seem cheaper than they were a few months ago. I’m curious what people are actually seeing though because listing prices don’t always tell the full story. Anyone here rent a place recently? Did you pay the asking price or were you able to negotiate it down? It kind of feels like renters have a little more leverage now compared to a year or two ago. Are rents actually dropping where you’re looking, or are the cheaper places mostly bad units or bad buildings?

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