Toronto is one of Canada’s most dynamic and desirable cities, and its rental market reflects that. Whether you’re moving into your first apartment, relocating to a new neighbourhood, or exploring investment opportunities, it’s helpful to understand what the going rental rates look like across different areas of the city.
In this guide, we break down average rental prices by neighbourhood, explore what influences these rates, and offer tips for finding the right fit for your lifestyle and budget.
Why Are Toronto Rental Prices So Varied?
While the average rent per Toronto is $2,036/month, the amount that renters end up actually paying depends mainly on which neighbourhood they choose.
Toronto is made up of dozens of distinct neighbourhoods, each with its own character, amenities, and housing options. Rental prices depend on several factors:
- Proximity to the downtown core
- Access to public transit
- Neighbourhood prestige and popularity
- Building type (condo, purpose-built rental, basement apartment, etc.)
- Size and layout of the unit
Average Rental Prices by Area
Here’s a snapshot of what you can expect to pay in 2025, based on recent market data:
Downtown Core (Entertainment District, Financial District, King West)
Living in the heart of the action comes at a premium.
- 1-bedroom condo: ~$2,450–$2,850/month
- 2-bedroom condo: ~$3,000–$3,750/month
These neighbourhoods offer unbeatable access to restaurants, nightlife, and jobs, making them popular with young professionals and urbanites.
Midtown (Yonge & Eglinton, Davisville Village)
Midtown strikes a balance between urban convenience and a more residential feel.
- 1-bedroom condo: ~$2,400–$3,800/month
- 2-bedroom condo: ~$4,200–$4,300/month
The area is well-served by transit, with great shopping and dining options.
East End (Leslieville, Beaches, Danforth)
The east end has grown in popularity for its laid-back vibe and sense of community.
- 1-bedroom condo/apartment: ~$1,850–$2,600/month
- 2-bedroom: ~$2,500–$3,000/month
You’ll find charming low-rises, boutique condos, and tree-lined streets here. The East End is typically a great fit for families and creative professionals.
West End (High Park, Roncesvalles, Junction)
Known for its parks and character, the west end is another attractive choice.
- 1-bedroom condo/apartment: ~$1,950–$2,950/month
- 2-bedroom: ~$2,650–$4,400/month
These areas are ideal if you prefer a quieter atmosphere while still being close to downtown.
North York (Sheppard, York Mills, Bayview)
Further north, you’ll find more spacious units at slightly lower prices, plus easy access to highways which is convenient for commuters.
- 1-bedroom condo: ~$2,000–$2,700/month
- 2-bedroom condo: ~$3,300–$3,600/month
North York offers a suburban feel with plenty of amenities.
Tips for Renters
- Set your budget realistically: Factor in not just rent, but utilities, insurance, and commuting costs.
- Be prepared: The rental market moves quickly, so have your documents ready.
- Consider lifestyle: Do you value walkability? Green spaces? Proximity to work?
- Explore different building types: New condos often cost more than older apartments, but may offer better amenities.
Looking Ahead
As Toronto continues to grow, rental rates may fluctuate, especially in up-and-coming neighbourhoods. Staying informed about the market can help you make the best choice for your needs.
At BAZIS, we understand the Toronto housing market deeply and are proud to create iconic communities that reflect the city’s vibrancy. Whether you’re renting or buying, Toronto has a neighbourhood that’s just right for you.
Questions? Comments? Connect with BAZIS on social media (Facebook, X, or Instagram) and let us know!