Stay in the loop Sign up for our free email newsletter. Unsubscribe anytime or contact us for details. The COVID-19 pandemic continues to wreak havoc on Toronto's residential rental market — in the best of possible ways, mind you, for everyone other than landlords. A newly-released report from Padmapper shows that the median price of a one-bedroom apartment in Toronto is now only $1,770 per month. This represents a 23 per cent year-over-year decrease, and the reversal of four years of exponential rent growth in Canada's largest city over less than 12 months. In other words, it's a massive drop. "The last time Toronto one-bedroom rent was as low as it is in this report was in February 2017, when it was at $1,700," noted Padmapper in a release announcing its February 2021 Canadian Rent Report on Monday.