Market Insights
The Market, Measured Carefully.
Rents and prices across the Greater Toronto Area from the organisations that publish them, with a plain explanation of what each number measures and what it does not.
Manually updated snapshot · figures checked October 30, 2026. These figures are reviewed when TRREB publishes its next Market Watch (monthly) and rental report (quarterly), and when Rentals.ca publishes its monthly National Rent Report.
01 — Rental market
Rents across the GTA.
Two reliable sources, two different measures. TRREB tracks condominium apartments actually leased; Rentals.ca tracks what landlords advertise across all property types. Read each on its own terms.
- One-bedroom
$2,273
Average lease price
down 2.3% vs Q2 2025
- Two-bedroom
$3,013
Average lease price
down 1.7% vs Q2 2025
- Units leased
21,251
Rental transactions
up 4.2% vs Q2 2025
- Units listed
27,844
Listed for rent
up 2.9% vs Q2 2025
- One-bedroomDown 2.3%
- Two-bedroomDown 1.7%
- Units leasedUp 4.2%
- Units listedUp 2.9%
What it covers. Condominium apartments leased through the TRREB MLS® System across TRREB's market area. Purpose-built rental buildings and private leases outside the MLS® System are not included.
Context. TRREB reports that transactions grew faster than listings in the quarter while average rents remained below year-earlier levels for all bedroom types.
Source: TRREB Rental Market Report, Q2 2026 · Toronto Regional Real Estate Board (TRREB) · published August 31, 2026 · checked October 30, 2026
- City of Toronto
$2,554
Average asking rent, all property types
down 1.4% year over year
- Canada
$2,034
Average asking rent, all property types
down 4.2% year over year
- Canada, purpose-built
$2,036
Average asking rent
down 2.7% year over year
- Canada, condominium
$2,052
Average asking rent
down 7.8% year over year
- City of TorontoDown 1.4%
- CanadaDown 4.2%
- Canada, purpose-builtDown 2.7%
- Canada, condominiumDown 7.8%
What it covers. Average asking rents on new listings across Rentals.ca's network, including apartments, condominiums, townhouses and houses. Asking rents are what landlords advertise, not what tenants ultimately agree to pay.
Source: Rentals.ca National Rent Report, October 2026 · Rentals.ca and Urbanation · published October 7, 2026 · checked October 30, 2026
Toronto and York Region
The City of Toronto holds most of the GTA's condominium rental supply, and downtown neighbourhoods such as CityPlace, King West and the Waterfront set the pace for new-building rents. York Region's rental stock is smaller and more varied: condominium towers around Vaughan Metropolitan Centre, Markham Centre and the Yonge corridor in Richmond Hill, alongside townhouses, basement apartments and detached homes in lower-density neighbourhoods.
We do not publish a single York Region average here because we have not yet verified a regional figure we are confident reflects that mix. In practice, comparable condominium suites near rapid transit in York Region are often priced in relation to Toronto suites with similar access, while ground-oriented rentals vary widely by street and condition.
Condominium and purpose-built rentals
A condominium rental is an individually owned suite leased by its owner, often in a newer building with amenities. A purpose-built rental is a building owned and operated entirely as rental housing, usually by one landlord, from older mid-century slabs to new towers.
Nationally, Rentals.ca reported condominium asking rents falling faster than purpose-built rents over the year to September 2026 (7.8% versus 2.7%). In the GTA, condominium completions have added significant rental supply, which is one reason condominium rents have softened.
Rent control also differs in practice: many newer condominium suites and purpose-built buildings were first occupied after November 15, 2018 and are exempt from the annual guideline, so increases during a tenancy are not capped in the same way.
What moves rents
Supply coming to market
When many new condominium units are completed at once, more owners compete for tenants. TRREB's Q2 2026 report shows listings and leases both rising, with average rents below a year earlier.Population and household growth
Immigration, students and new households add demand; changes to federal immigration and study-permit levels have been widely cited as a factor in softer rents since 2024.Ownership affordability
When borrowing costs ease or prices soften, some renters buy, reducing rental demand. TRREB notes improved ownership affordability drawing some renters toward buying.Unit type and size
Rent rises with bedrooms, but not proportionally: in TRREB's Q2 2026 data a two-bedroom condominium averaged about a third more than a one-bedroom.Building and location
Transit access, building age and amenities, and the specific neighbourhood often matter as much as the city.Rent control status
Units first occupied after November 15, 2018 are exempt from the annual guideline, which affects how rents can change during a tenancy, not the starting rent.
Ontario rent increase guideline
2.1% for 2026 and 1.9% for 2027, for most tenancies. Increases need 90 days' written notice and at least 12 months between increases.
02 — Monthly costs
Look past the advertised rent.
Two homes at the same rent can cost quite different amounts each month. Add what you expect to pay yourself, then compare the totals.
Estimated monthly total
$2,515
- Rent
- $2,300
- Costs on top of rent
- $215
- Over 12 months
- $30,180
These are your own estimates, not charges for any specific property. Confirm what rent includes in the lease itself. Moving in usually also requires a rent deposit of up to one month's rent, applied to the last month of the tenancy. This is not financial advice.
Costs that may sit on top of rent
- Utilities
- Hydro, heat and water may or may not be included. Condominium suites often have separately metered hydro.
- Internet and phone
- Rarely included in an apartment or condominium; sometimes included in room rentals.
- Parking and storage
- Often a separate monthly charge, particularly downtown.
- Tenant insurance
- Commonly required by the lease and recommended regardless.
- Laundry
- Coin or card laundry in some buildings; in-suite in most newer condominiums.
- Moving in
- A rent deposit of no more than one month's rent, applied to the last month; a refundable key deposit is permitted. Damage deposits are not.
Comparing locations
A lower rent further from work can cost more once commuting is counted. When comparing homes, price the trip as well as the rent: transit fares or a monthly pass, parking at work, fuel and the time involved.
- Check the walk to the nearest subway, GO or rapid-transit stop at the times you travel.
- Ask what the building includes: parking, storage, laundry and amenities vary widely.
- Visit at different times of day if noise, light or traffic matter to you.
- Read the full listing for what rent includes, and confirm it in the lease.
None of this is financial advice. A licensed professional can help you plan a budget that suits your circumstances.
03 — Home sales
The GTA resale market.
Monthly figures from TRREB's Market Watch. Prices are lower than a year earlier and fewer homes are both selling and being listed.
- Average selling price
$1,006,409
Average of closed sale prices
down 5.1% vs September 2025
- Benchmark price change
−4.7%
MLS® Home Price Index composite, year over year
- Home sales
5,040
Number of transactions
down 9% vs September 2025
- New listings
16,500
Properties newly listed
down 14.4% vs September 2025
- Average selling priceDown 5.1%
- Home salesDown 9%
- New listingsDown 14.4%
What it covers. Residential sales reported through the TRREB MLS® System across the Greater Toronto Area, all home types combined.
Context. The average selling price is pulled up or down by the mix of homes that sold in a month. The MLS® HPI benchmark tracks a typical home and is the better guide to price direction.
Source: TRREB Market Watch, September 2026 · Toronto Regional Real Estate Board (TRREB) · published October 15, 2026 · checked October 30, 2026
Reading a price correctly
- Average selling price
- The total value of homes sold divided by the number sold. It shifts with the mix: a month with more detached sales reads higher even if no individual home rose in value.
- Benchmark price (MLS® HPI)
- The modelled price of a typical home with consistent features. It is the steadier guide to whether prices are actually rising or falling.
- Median price
- The middle sale price. Less affected by a few very expensive sales than the average. Not reported in the figures above.
- Asking price
- What a seller lists for. It may be above or below the final sale price and should not be read as a measure of value.
Renting or buying
The comparison is rarely just rent against a mortgage payment. Ownership adds property tax, insurance, maintenance and, in a condominium, monthly fees, plus closing costs such as land transfer tax at purchase. Renting keeps capital free and costs predictable, but builds no equity.
Our guide to Ontario real estate costs sets out the one-time and ongoing costs of buying, and the first-time buyer guide walks through the process.
Methodology
How these figures are handled.
- Every figure is copied from the publisher's own release and checked against it on the date shown. We do not estimate, interpolate or model figures.
- We show only the current snapshot. The change bars show the year-over-year changes each publisher reports; we do not chart historical series we have not verified point by point.
- Figures from different publishers are shown separately and never combined into one comparison.
- Each tile states what is measured: lease price, asking rent, sale price or benchmark index.
- The page is updated manually as new reports are published; it is not an automatic feed.
Market information is general and may not reflect a specific property, building or neighbourhood. It is not financial, legal or investment advice. Rents and prices change; confirm current figures with the original publisher.
Questions
Market questions
Why do different reports show different average rents?
They measure different things. TRREB reports the average lease price of condominium apartments rented through its MLS® System. Rentals.ca reports average asking rents across all listings on its network, including houses and townhouses. Neither is wrong, but they cannot be compared directly.
Are rents in Toronto going down?
Recent reports show average rents below a year earlier: TRREB's Q2 2026 condominium averages were lower than Q2 2025 for one- and two-bedroom units, and Rentals.ca's September 2026 Toronto average asking rent was 1.4% lower year over year. Individual buildings and neighbourhoods can move differently.
How much can my rent go up?
For most units, increases during a tenancy are limited to the provincial guideline: 2.1% for 2026 and 1.9% for 2027, with at least 90 days' written notice and no more than once every 12 months. Units first occupied for residential purposes after November 15, 2018 are generally exempt from the guideline.
Is there a rule for how much of my income rent should be?
No legal rule decides whether you can afford a rental. Under the Ontario Human Rights Code regulations, landlords may consider income information only together with other information such as rental history, credit references and credit checks. Use the estimator to plan your own budget.
Do you publish rents for York Region, Hamilton or other cities?
We publish a local figure only when it comes from a dependable source we have checked. Where we have not verified a figure for a particular city, our location pages explain the market in words rather than show a number.
Next steps
Where to go next.
- Search rentalsFilter by area, budget and move-in date
- Investment propertyHow we evaluate income-producing property
- Sell your propertyA direct, private conversation
- Landlord resourcesOntario rules for owners who rent
- Toronto neighbourhoodsWhat distinguishes each area
- Property managementHow a managed tenancy runs, step by step
- Real estate newsDaily Bank of Canada and Statistics Canada releases
- Mortgage and closing costsEstimate payments and land transfer tax