Just take a look at this basement listing in Peterborough, recently listed for only $650 per month. While it might seem like an enticing deal if you're sorting listings by price, you might want to take a closer look at the photos before getting too excited. Still, as some noted, those strapped for cash might not have many options when it comes to Ontario's pricey real estate market. According to Rentals.ca's most recent rent report, the national average rent in Canada in September 2025 was $2,123, representing a two-year low. Despite this, Toronto's average one-bedroom apartment rent remained above the $2,000 mark at $2,295, representing a 5.1 per cent decline year-over-year.