Toronto rental market data
These figures come from CMHC’s October Rental Market Survey of purpose-built rentals and Statistics Canada’s quarterly asking rents. For national trends, see the Canada rental market overview.
| Measure | Value | Change |
|---|---|---|
| Vacancy rate, October 2025 (apartments in buildings of 6+ units) | 3.0% | 2.5% a year earlier |
| Average 2-bedroom rent paid by all tenants, October 2025 | $2,056 | +3.9% year over year |
| Average 2-bedroom asking rent for new tenants, second quarter of 2026 | $2,650 | -0.7% year over year |
Sources: CMHC Rental Market Survey via Statistics Canada tables 34-10-0127 and 34-10-0133 (October 2025); Statistics Canada table 46-10-0092, quarterly asking rents (second quarter of 2026).
| Measure (October 2025) | Toronto CMA |
|---|---|
| Average rent, all purpose-built units (townhouses and apartments) | $1,917 |
| Average rent a year earlier | $1,852 |
| Vacancy rate, apartments in structures of 3+ units | 3.0% (was 2.5%) |
| Turnover rate (share of units with a new tenant in the year) | 8.7% (was 6.4%) |
| Purpose-built rental units (townhouses and apartments) | 343,539 |
Sources: CMHC Rental Market Report data tables (Toronto Table 3.1.2; national Tables 1.0 and 5.0).
Average rent by bedroom type
| Unit type | Average rent paid, all tenants (October 2025) | Average asking rent, new tenants (second quarter of 2026) |
|---|---|---|
| Bachelor / studio | $1,494 | $1,750 |
| 1 bedroom | $1,761 | $2,090 |
| 2 bedroom | $2,056 | $2,650 |
| 3 bedroom+ | $2,319 | $3,270 |
The first column is CMHC's average for occupied units in apartment buildings of six or more units, so it includes long-term tenants paying below-market rents. The second is Statistics Canada's average of listed rents, closer to what you'd be quoted if you moved now.
New tenants vs sitting tenants
CMHC separates the rent paid on units that changed tenants in the past year from units where the tenant stayed:
| Unit type | New tenants, October 2025 | Change from October 2024 | Sitting tenants, October 2025 | Change from October 2024 |
|---|---|---|---|---|
| Bachelor | $1,708 | -6.7% | $1,443 | +2.4% |
| 1 bedroom | $2,073 | -4.9% | $1,711 | +2.9% |
| 2 bedroom | $2,547 | -2.5% | $1,984 | +3.4% |
| 3 bedroom+ | $2,893 | -7.8% | $2,263 | +5.2% |
| All units | $2,256 | -4.3% | $1,863 | +3.7% |
Source: CMHC Rental Market Report data tables, Table 6.0, "Average Rent for Turnover and Non-turnover Units" (Toronto CMA; apartments in privately initiated structures of three or more units). New tenants = units whose tenant changed in the past year.
A new tenant renting a 1-bedroom paid $2,073 on average, against $1,711 for a tenant who stayed, a gap of $362 a month.
Vacancy rate trend
Toronto vacancy rate, apartments in buildings of 6+ units (CMHC, October each year)
Toronto average 2-bedroom rent, apartments in buildings of 6+ units (CMHC, October each year)
Source: CMHC Rental Market Survey via Statistics Canada tables 34-10-0127 and 34-10-0133, 1990 to 2025.
Rent by neighbourhood
CMHC reports average rents for survey zones across the Toronto CMA.
Highest average rents
| CMHC survey zone | Average rent, October 2025 | Purpose-built apartments |
|---|---|---|
| Oakville | $2,192 | 5,540 |
| Mississauga (Northwest) | $2,182 | 3,916 |
| Toronto (Central) | $2,163 | 36,052 |
| Etobicoke (Central) | $2,162 | 16,476 |
| North York (Northeast) | $2,081 | 12,863 |
| Toronto (North) | $2,057 | 32,670 |
Source: CMHC Rental Market Report data tables, Toronto, October 2025: average rent for row (townhouse) and apartment units in privately initiated structures of three or more units, all bedroom types (Table 3.1.2); apartment counts from Table 1.1.3. Zones with suppressed data are omitted.
Lowest average rents
| CMHC survey zone | Average rent, October 2025 | Purpose-built apartments |
|---|---|---|
| Bradford/West Gwillimbury/New Tecumseth | $1,407 | 706 |
| Orangeville/Mono | $1,532 | 831 |
| Milton/Halton Hills | $1,600 | 1,043 |
| Etobicoke (South) | $1,630 | 10,961 |
| Toronto (East) | $1,685 | 5,699 |
| North York (Northwest) | $1,700 | 20,601 |
Source: CMHC Rental Market Report data tables, Toronto, October 2025: average rent for row (townhouse) and apartment units in privately initiated structures of three or more units, all bedroom types (Table 3.1.2); apartment counts from Table 1.1.3. Zones with suppressed data are omitted.
All zones
| CMHC survey zone | Average rent, October 2025 | Purpose-built apartments |
|---|---|---|
| Oakville | $2,192 | 5,540 |
| Mississauga (Northwest) | $2,182 | 3,916 |
| Toronto (Central) | $2,163 | 36,052 |
| Etobicoke (Central) | $2,162 | 16,476 |
| North York (Northeast) | $2,081 | 12,863 |
| Toronto (North) | $2,057 | 32,670 |
| Aurora, Newmkt, Whit-St. | $2,053 | 2,378 |
| Etobicoke (North) | $2,047 | 5,298 |
| North York (N.Central) | $1,989 | 13,334 |
| Brampton (West) | $1,953 | 6,772 |
| Toronto (West) | $1,945 | 26,236 |
| Markham | $1,942 | 1,589 |
| Mississauga (Northeast) | $1,908 | 12,021 |
| Brampton (East) | $1,907 | 4,588 |
| York | $1,864 | 18,195 |
| North York (Southeast) | $1,842 | 17,126 |
| Mississauga (South) | $1,819 | 12,439 |
| Scarborough (East) | $1,816 | 10,111 |
| Pickering/Ajax/Uxbridge | $1,770 | 2,919 |
| Scarborough (Central) | $1,754 | 18,250 |
| North York (Southwest) | $1,728 | 9,631 |
| Richmond Hill/Vaughan/King | $1,726 | 2,413 |
| Scarborough (North) | $1,717 | 6,742 |
| East York | $1,715 | 18,556 |
| North York (Northwest) | $1,700 | 20,601 |
| Toronto (East) | $1,685 | 5,699 |
| Etobicoke (South) | $1,630 | 10,961 |
| Milton/Halton Hills | $1,600 | 1,043 |
| Orangeville/Mono | $1,532 | 831 |
| Bradford/West Gwillimbury/New Tecumseth | $1,407 | 706 |
Source: CMHC Rental Market Report data tables, Toronto, October 2025: average rent for row (townhouse) and apartment units in privately initiated structures of three or more units, all bedroom types (Table 3.1.2); apartment counts from Table 1.1.3. Zones with suppressed data are omitted.
Purpose-built vs condominium rentals
Toronto’s rental market includes purpose-built apartments and condominium apartments rented out by their owners. CMHC counted 214,083 rented condo apartments in October 2025, 40.3% of all condo apartments in the CMA.
| Segment (October 2025) | Vacancy rate | Average 2-bedroom rent |
|---|---|---|
| Purpose-built apartments | 3.0% | $2,046 |
| Condominium apartments rented out | 0.9% | $2,891 |
A rented condo 2-bedroom averaged $2,891 a month, against $2,046 for a purpose-built one. Condo 2-bedroom rent was $2,924 a year earlier.
Ontario rules on rent increases
- The rent increase guideline is 2.1% for 2026 and 1.9% for 2027.
- Units first occupied for residential purposes after November 15, 2018 are exempt from the guideline.
- Rent can go up once every 12 months, with at least 90 days' written notice on the proper form.
- The guideline doesn't apply when a unit is rented to a new tenant: the landlord and new tenant agree on the rent.
- The guideline also doesn't cover community housing units, long-term care homes or commercial properties, and social housing has its own rules.
- A landlord can apply to the Landlord and Tenant Board for approval to raise the rent by more than the guideline.
Source: Ontario government.
| Year | Limit on increases |
|---|---|
| 2027 | 1.9% |
| 2026 | 2.1% |
| 2025 | 2.5% |
| 2024 | 2.5% |
| 2023 | 2.5% |
| 2022 | 1.2% |
| 2021 | 0% |
| 2020 | 2.2% |
For a sitting tenant paying $1,700 in a unit covered by the guideline, the 2026 guideline of 2.1% allows an increase of $35.70 a month. More on the rules: Ontario rental market.
Glossary
- Purpose-built rental: a building constructed and operated as rental housing, as opposed to condominium units rented out by their owners.
- Vacancy rate: the share of rental units empty and available for immediate rent at the time of CMHC’s October survey.
- Average rent: the average rent paid by all tenants, including long-term tenants. Not the same as asking rent for available units.
- Turnover rate: the share of units whose tenant changed in the past 12 months.
- Rent increase guideline: the most an Ontario landlord can raise rent on a covered unit in a year without Landlord and Tenant Board approval.
- Universe: the total stock of purpose-built rental units in CMHC’s survey.
- CMA: Census Metropolitan Area, as defined by Statistics Canada. The Toronto CMA includes the City of Toronto, Mississauga, Brampton, Markham, Vaughan, Oakville and surrounding municipalities.
Related pages
- Canada Rental Market Data: national vacancy rates and average rent
- Toronto Housing Starts: new construction data for the Toronto CMA
- Housing Starts in Canada: national housing starts and construction trends
Sources
- CMHC Rental Market Report data tables: national and Toronto tables
- Statistics Canada table 34-10-0133 and 34-10-0127: CMHC rents and vacancy rates, apartment structures of six units and over
- Statistics Canada table 46-10-0092: quarterly average asking rents
- Ontario rent increase guideline