Renting in Toronto: average rent, where to look and how to get approved (2026)
Real leased rents by city, what each type of rental costs, and how tenants and landlords should play this market.
By Inderpal Sidhu · Updated November 2026 · 5 min read
Quick answer
What is the average rent in Toronto in 2026?
In Q2 2026 a one-bedroom condo in the City of Toronto leased for about $2,316, a two-bedroom for about $3,154 and a three-bedroom condo townhouse for about $3,575 (TRREB). Toronto asking rents rose 1.6% year over year in October 2026.
Updated November 2026 · Inderpal Sidhu, Salesperson, HomeLife Silvercity Realty Inc., Brokerage
Looking for a rental in Toronto, or renting one out? Here are the real leased rents from TRREB, not asking prices, plus what is changing this winter.
Average rent by city (TRREB, Q2 2026)
| Area | 1-bed condo | 2-bed condo | 3-bed condo townhouse |
|---|---|---|---|
| City of Toronto | $2,316 | $3,154 | $3,575 |
| City of Toronto average | $2,316 | $3,154 | $3,575 |
Leased condo apartment and condo townhouse rents reported through TRREB's MLS® System in Q2 2026 (15,388 condo apartment leases in City of Toronto). Small samples can swing quarter to quarter. Basement apartments usually rent for less, and detached houses for more.
Free · about 2 minutes
Renting or renting out in Toronto?
Tenants get matching rentals and help with the application. Landlords get a rent estimate based on recent leases nearby.
What to know
- Toronto is the deepest rental market in the GTA: over 15,000 condo leases went through TRREB in Q2 2026 alone.
- Toronto asking rents rose 1.6% year over year in October 2026, the first increase in almost three years, so the best deals of 2025 are fading.
- Downtown and midtown condos rent fastest; Scarborough and Etobicoke usually cost less for the same bedrooms.
- For 2027, most rent increases are capped at 1.9%. Units first occupied after November 15, 2018 are exempt from the cap.
Rent or buy in Toronto?
The average home in City of Toronto sold for $1,075,627 in October 2026 (TRREB). If you are paying close to $3,000 a month, compare that with a mortgage payment on a condo or townhouse here: rent vs buy, the real math. Thinking of buying in the next year or two? Start a home search.
For landlords in Toronto
Price to recent leases, not to the highest asking rent on the street, screen properly and use the Ontario standard lease. My landlord guide covers deposits, increases and the Landlord and Tenant Board.
City guides: Toronto · North York · Scarborough · Etobicoke
Moving here? Toronto · North York · Scarborough · Etobicoke
More renting guides: GTA rents by city · basement apartments
Want help finding a rental, or a tenant for yours?
Start hereFAQ
What is the average rent in Toronto?
In Q2 2026 a one-bedroom condo in City of Toronto leased for about $2,316 and a two-bedroom for about $3,154 on average (TRREB).
How much is a 3-bedroom townhouse rental in Toronto?
Three-bedroom condo townhouses in City of Toronto leased for about $3,575 on average in Q2 2026 (TRREB). Freehold houses usually cost more.
How much can rent go up in 2027?
1.9% for most units in Ontario, once every 12 months with 90 days' written notice. Units first occupied after November 15, 2018 are exempt from the cap.
Questions? Call, text or WhatsApp me. I answer personally.
Call or text 647-338-6875Sources
TRREB Rental Market Report, Q2 2026
TRREB Market Watch, October 2026
Ontario: residential rent increases (2027 guideline)
Ontario: guide to the standard lease
General information only, not legal, tax, mortgage or financial advice. Rules and rates change; confirm with a real estate lawyer, mortgage professional and the CRA before you act. Inderpal Sidhu, Salesperson, HomeLife Silvercity Realty Inc., Brokerage.