Rent Is Finally Dropping… But Only in These Ontario Cities

April 2026 rent data reveals where prices are quietly falling across Ontario — and where renters can actually save money right now.

After years of relentless increases, rent in Ontario is finally showing signs of slowing down — and in some places, it’s quietly dropping.

But here’s the catch: the declines aren’t happening everywhere.

Where rent is falling fastest (1-Bedroom Unfurnished)

1) Outer GTA cities are softening

Suburban markets that surged in recent years are now leveling off or dropping slightly.

• Burlington $2,072
• Milton $1,935
• Vaughan-Richmond Hill $1,949

These areas saw huge demand during the pandemic — now that demand is cooling, prices are stabilizing or slipping.

2) Budget markets are hitting a ceiling

Lower-cost cities are under pressure because renters simply can’t afford further increases. This has created some excellent sub-$1,800 opportunities.

• Brampton $1,779
• Hamilton $1,642
• London $1,529

3) Some Toronto areas are cooling (quietly)

For comparison, Downtown Toronto remains high at $2,123 for a one-bedroom. However, certain outer segments of the city are offering relief:

• Etobicoke $2,024
• North York $1,994
• Scarborough $1,915

4) Ottawa continues to stay stable (and relatively cheaper)

Compared to the GTA, Ottawa remains more affordable at $1,811, and recent data shows slower growth — another early sign of a softer market.

What’s actually happening?

Rent isn’t collapsing — it’s shifting. Active listings in Ontario are heavily skewed toward apartment buildings (95.79%), with standalone housing making up a tiny fraction (1.60%).

• Demand for larger units is weakening
• Suburban growth is slowing
• Affordability limits are being reached
• Landlords are holding prices instead of raising them

The result: small drops in specific markets — not a full correction.

What renters should do right now

• Look beyond downtown: outer areas may offer better value
• Negotiate: landlords are more flexible than before
• Compare options: prices vary more than people think
• Time your move: slower demand = better deals

Source: April 2026 Statistics - Liv Strategies Inc.