A two bedroom apartment in Toronto averages $1760

The Toronto rental market was recently named the second most expensive in Canada, which is why few will be surprised to hear that our average rental rates are bonkers compared to a city like Montreal.

According to a just released rent report by Padmapper, rental costs are up across the country, but it's the stats on the most common Toronto rentals that'll make you drop your bags and run for the hills.

One bedroom units are up 4.6 per cent to a median cost of $1,370, but two bedroom units are up 4.8 per cent to $1,760. Take a look at what kind of apartment $1750 gets you in the city for an idea of what to expect.

We're not the only ones emptying our bank accounts on rent alone. Montreal recently became the fourth most expensive city for Canadian renters. A one bedroom there will cost you $1,070 and a two bedroom clocks in at $1,380.

Rentals in Hamilton, Oshawa and Kitchener are also all the rise. The good news? At least we're still not as expensive at Vancouver where a two bedroom will put you back $1,800.

Are you willing to dish out $1760 for a one bedroom apartment? Let us know in the comments.

by Phil Villeneuve via blogTO