Average Rent in Toronto 2026 (By Neighbourhood & Unit Type)
By Wealthvieu · Updated
The average rent for a 1-bedroom in Toronto is approximately $2,400/month in 2026. Toronto remains one of Canada’s most expensive rental markets, though growth has slowed compared to the rapid increases of 2022–2023.
Average Rent by Unit Type
Unit Type
Average Rent
vs. National Average
Studio
$1,900
+36%
1-Bedroom
$2,400
+33%
2-Bedroom
$3,100
+41%
3-Bedroom
$3,800
+46%
Rent by Neighbourhood
Neighbourhood
1-BR Avg
2-BR Avg
Vibe
Downtown Core
$2,600
$3,400
Urban, walkable
Liberty Village
$2,500
$3,200
Young professionals
North York
$2,200
$2,800
Suburban-urban mix
Scarborough
$1,900
$2,400
Affordable, diverse
Etobicoke
$2,100
$2,700
Family-friendly
The Annex
$2,300
$3,000
University area
Yorkville
$3,000
$4,200
Luxury
Leslieville
$2,400
$3,100
Trendy, artsy
Mississauga (Sq One)
$2,200
$2,800
Suburban alternative
Brampton
$1,800
$2,300
Most affordable GTA
Income Needed to Afford Rent
Using the 30% rule for housing:
Unit Type
Monthly Rent
Gross Income Needed
Studio
$1,900
$76,000/year
1-Bedroom
$2,400
$96,000/year
2-Bedroom
$3,100
$124,000/year
2-BR (shared)
$1,550/person
$62,000/year each
Rent Trends
Year
1-BR Average
YoY Change
2020
$1,800
—
2021
$1,750
-2.8%
2022
$2,100
+20%
2023
$2,350
+11.9%
2024
$2,400
+2.1%
2025
$2,400
+0%
2026
$2,400
+0%
Rents have stabilized after the massive 2022–2023 surge.
Toronto vs. Other Cities
City
1-BR Avg
vs. Toronto
Vancouver
$2,600
+8%
Toronto
$2,400
—
Ottawa
$1,900
-21%
Calgary
$1,700
-29%
Montreal
$1,600
-33%
Edmonton
$1,400
-42%
Winnipeg
$1,300
-46%
Tips to Save on Rent in Toronto
Strategy
Potential Savings
Move to Scarborough or Brampton
$300–$600/month
Get a roommate (split 2-BR)
$500–$800/month
Rent during winter (lower demand)
$100–$200/month
Look for older buildings (rent control)
Locked-in rates
Negotiate at lease renewal
$50–$150/month
Bottom Line
Toronto’s rents are steep but have plateaued in 2025–2026. A 1-bedroom costs $2,400/month — requiring roughly $96K income to afford comfortably. Living in the inner suburbs or splitting a unit with a roommate can significantly reduce costs.