Main Square
2575 Danforth Ave,
Toronto, ON M4C 1L5
1-3 Beds | C$1,920 - 3,270
Rental Market Trends in Toronto, ON
What is the average rent in Toronto, ON?
C$2,075/month
Average Rent
634 Sq Ft
Average Apartment Size
+0.6%
Increase in the Last Year
As of November 2024, the average rent in Toronto, ON was C$2,075/month. When you rent an apartment in Toronto, you can expect to pay as little as C$1,623 to as much as C$2,904, depending on the location and size of the apartment.
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
How much has average rent changed in Toronto, ON?
In the past year, rent has increased by 0.6%, which averages out to C$13 more per month.
Market Trends Over Time
The chart below compares average rent prices to the previous year during the same time period.
Last Updated November 2024
Legend
2023
2024
Rent Ranges in Toronto, ON
Last Updated November 2024
Above C$2,000
Most rental prices fall within this range
Percentage*
Rent Range
0%
Below C$700/month
0%
C$700 - C$1,000/month
12%
C$1,001 - C$1,500/month
21%
C$1,501 - C$2,000/month
66%
Above C$2,000/month
Rent by Neighborhood
Last Updated Today
What are the most affordable neighborhoods in Toronto?
Based on current rent prices, Cabbagetown-S St James Town, East End-Danforth and Banbury-Don Mills/York Mills are the most affordable neighborhoods in Toronto.
Neighborhood
Average Rent
Average Sq Ft
What are the most expensive neighborhoods in Toronto?
Based on current rent prices, Yonge-Eglinton, Bay Street Corridor and University/Annex are the most expensive neighborhoods in Toronto.
Neighborhood
Average Rent
Average Sq Ft
Which Toronto neighborhoods have the most rentals available?
The neighborhoods in Toronto with the most apartments available are Waterfront Communities-The Island, Church-Yonge Corridor and Mount Pleasant West .
Neighborhood
Average Rent
Average Sq Ft
What salary do I need to live comfortably in Toronto, ON?
With the average rent in Toronto being C$2,075/month, you’ll want to make about C$6,916 per month or C$82,992 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our Rent Affordability Calculator to determine what an affordable rent amount is for you.
How does Toronto, ON compare to other nearby cities and neighborhoods?
Use the tool below to compare Toronto, ON to other nearby cities and neighborhoods. The Apartments.com neighborhood guides provide you with insight into the area’s transportation, things to do, and more.
Studio
C$1,741/month
C$1,922/month
One Bedroom
C$1,913/month
C$2,293/month
Two Bedroom
C$2,687/month
C$3,126/month
Three Bedroom
C$4,698/month
C$5,776/month
Apartment communities in Toronto we think you'll love
Methodology
† Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
* Percentages may not total 100 due to rounding.