Rental Pricing in North York vs. The Downtown Core
Why renting in North York may be the right choice for you.
1 min read
Within the Greater Toronto Area, the rental market has become increasingly active over the last ten years. Although rental properties in both North York and the downtown core continue to show a difference in average pricing, they reflect just that.
As real estate prices continue to rise, the rental market supports those who may not be able to buy a home as of yet or are choosing not to do so. Both buying and leasing have their benefits, and in today’s market, it is prevalent to rent before buying a property. The North York area has become a trendy pocket to rent in.
The chart below illustrates the key differences in rental pricing from the (W04) North York area to the (C01) downtown core.
| Type | North York | Downtown Core |
|
Studio |
$1650 |
$1696 |
|
1-Bed |
$2021 |
$2179 |
|
2-Bed |
$2395 |
$3002 |
North York has a gradual price increase between studio, 1 and 2 bedroom units. The downtown core gets significantly more expensive when you are interested in a 2-bedroom unit. These units tend to be rarer and more costly, limiting young families to stay and grow there. In contrast, the North York area has many affordable options for 2-bedroom suites that one could raise their family in.
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