Oakville single-family homes most expensive to rent in GTA

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Published January 28, 2022 at 5:11 pm

The average asking rent for all property types in the GTA was lower in December according to the latest Bullpen Research & Consulting and Toronto Rentals.com Toronto GTA Rent Report. INSAUGA PHOTO

The cost of renting out a single-family home in Oakville remains higher than anywhere else in the GTA.

While the average asking rent for all property types in the GTA was lower in December according to the latest Bullpen Research & Consulting and Toronto Rentals.com Toronto GTA Rent Report, moving to Oakville will still cost you a pretty penny.

Four-plus bedroom units in Oakville average a rental high of $3,645 per month. The lowest is $2,300 for a home in Etobicoke.

Oakville rental apartments were also the most costly in the annual rent report, with renters having to fork over an average of $2,114 a month. Newmarket is the cheapest location in the GTA to rent apartment with a cost of $1,595.

The $3,226 price tag to rent a townhouse in Oakville was just off the GTA high of $3,321 in Etobicoke. The lowest average townhouse rental prices were found in Brampton at $2,370.

The average cost of renting a condo in Oakville in December was $2,430. The highest price rental condos were found in Mississauga at $2,526, with Oshawa at the cheapest end of the spectrum at $1,882.

The average price of a basement apartment in Oakville was $1,486, a fair bit cheaper than the high price of $1,947 in Toronto and close to the cheapest rate of $1,440 in East York.

After eight months of increases, the Toronto GTA Rent Report found GTA rental prices were down 0.8 per cent overall. December’s average rent of $2,150 is 13 per cent lower than the November, 2019 peak of $2,461.

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