The Quay - Tower III
370 Queens Quay W,
Toronto, ON M5V 3J3
Studio - 3 Beds | $1,858 - $3,677
Rental Market Trends in Toronto, ON
Updated August 2026
The average rent in Toronto, ON is $1,975/month.
$1,975/month
Average Rent
633 Sq Ft
Average Size
-2%
Change / Year
14,950
Available Apartments
Toronto rent varies by unit size and layout:
- Studio apartments in Toronto average $1,590 per month.
- One-bedroom apartments in Toronto average $1,975 per month.
- Two-bedroom apartments in Toronto average $2,453 per month.
- Three-bedroom apartments in Toronto average $2,938 or more per month.
Average Rent by Home Type
Bedrooms
Average Rent
Average Sq Ft
Bedrooms
Average Rent
Average Sq Ft
Bedrooms
Average Rent
Average Sq Ft
Bedrooms
Average Rent
Average Sq Ft
How much has average rent changed in Toronto, ON?
In the past year, rent has decreased by 2%, which averages out to $38 less per month.
Market Trends Over Time
August 2026
2025
2026
Rent Ranges in Toronto, ON
August 2026
Above $2,000
Most rental prices fall within this range
Percentage*
Rent Range
0%
Below $700/month
0%
$700 - $1,000/month
10%
$1,001 - $1,500/month
30%
$1,501 - $2,000/month
60%
Above $2,000/month
Rent by Neighbourhood
What are the most affordable neighbourhoods in Toronto?
Based on current rent prices, Mount Dennis, Oakwood-Vaughan and Eglinton East are the most affordable neighbourhoods in Toronto.
Neighbourhood
Average Rent
Average Sq Ft
What are the most expensive neighbourhoods in Toronto?
Based on current rent prices, Entertainment-Financial Districts, Kensington-Chinatown and Waterfront Communities-The Island are the most expensive neighbourhoods in Toronto.
Neighbourhood
Average Rent
Average Sq Ft
Which Toronto neighbourhoods have the most rentals available?
The neighbourhoods in Toronto with the most apartments available are Midtown, North York and Scarborough .
Neighbourhood
Average Rent
Average Sq Ft
What salary do I need to live comfortably in Toronto, ON?
Because the average rent in Toronto is $1,975, you’ll want to make about $6,583 per month or $78,996 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 help determine how much to budget for rent.
How does Toronto, ON compare to other nearby cities and neighbourhoods?
Use the tool below to compare Toronto, ON to other nearby cities and neighbourhoods. The Apartments.com neighbourhood guides provide you with insight into the area’s transportation, things to do, and more.
View the Toronto Area GuideStudio
$1,254/month
-
One Bedroom
$1,642/month
-
Two Bedroom
$1,998/month
-
Three Bedroom
$2,447/month
-
Apartment Communities in Toronto We Think You'll Love
Frequently Asked Questions
What is the average rent in Toronto?
The average rent in Toronto is $1,975 per month, which is 11.9% higher than the national average of $1,765.
What is the average rent for a house in Toronto?
The average rent for a house in Toronto, ON is $3,505 per month.
What is the average rent for a townhome in Toronto?
The average rent for a townhome in Toronto, ON is $3,003 per month.
What is the average rent for a condo in Toronto?
The average rent for a condo in Toronto, ON is $2,374 per month.
Are rents going up or down in Toronto?
Rents in Toronto, ON are decreasing, with prices down 2.0% year-over-year and $38 less per month.
What rent range is most common in Toronto?
In Toronto, ON, 60% of apartments fall above $2,000/month, though prices may vary depending on location and other factors.
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.