Toronto Rental Market Report

WOWA Trusted and Transparent
Market Report Summary
Updated April 24th, 2021
  • Average rent in Toronto dropped to $2,070, a 15% decrease compared to Q1 2020
  • Leasing activity has recovered to previous highs with an 85% increase compared to Q1 2020
  • One-bedroom rents dropped by 17% year-over-year to $1,821/month
  • Two-bedroom rents dropped by 12% year-over-year to $2,444/month
  • Three-bedroom rents dropped by 3% year-over-year to $2,962/month

Toronto Rental Market Overview

Data for Q1 2021
Avg. Rent:$2,070
All Properties:$2,070
Bachelor:$1,404
One Bedroom:$1,821
Two Bedroom:$2,444
Three Bedroom:$2,962
Leases:13,945
All Properties:13,945
Bachelor:531
One Bedroom:7,997
Two Bedroom:4,794
Three Bedroom:623

Toronto Condo Rental Market Statistics

Data for Q1 2021
$2,046
Avg. Rent
-2%
Quarterly change
-15%
Annual change
13,168
Leases
5%
Quarterly change
83%
Annual change

Average Rent for a Condo Apartment

Total Condo Leases Per Quarter

Toronto One-Bedroom Condo Rental Statistics

Data for Q1 2021
$1,820
Avg. Rent
-1%
Quarterly change
-17%
Annual change
7,904
Leases
9%
Quarterly change
85%
Annual change

Average Rent for a One-Bedroom Condo

Total One-Bedroom Condo Leases Per Quarter


Toronto Two-Bedroom Condo Rental Market Statistics

Data for Q1 2021
$2,447
Avg. Rent
-0.24%
Quarterly change
-13%
Annual change
4,414
Leases
-3%
Quarterly change
81%
Annual change

Average Rent for a Two-Bedroom Condo

Total Two-Bedroom Condo Leases Per Quarter


Toronto Three-Bedroom Condo Rental Market Statistics

Data for Q1 2021
$3,127
Avg. Rent
-1%
Quarterly change
-13%
Annual change
323
Leases
13%
Quarterly change
80%
Annual change

Average Rent for a Three-Bedroom Condo

Total Three-Bedroom Condo Leases Per Quarter


Toronto Townhouse Rental Market Statistics

Data for Q1 2021
$2,487
Avg. Rent
-1%
Quarterly change
0.36%
Annual change
777
Leases
7%
Quarterly change
39%
Annual change

Average Rent for a Townhouse

Total Townhouse Leases Per Quarter

FSRA #12993

Greater Toronto Area (GTA) Rental Prices Breakdown by Region

City
One Bedroom Avg. Rent
Two Bedroom Avg. Rent
#1Halton Region$1,912$2,449
#2Burlington$1,847$2,568
#3Halton HillsN/AN/A
#4Milton$1,842$2,226
#5Oakville$2,009$2,451
#6Peel Region$1,827$2,258
#7Brampton$1,799$2,171
#8Mississauga$1,828$2,265
#9Caledon$1,875N/A
#10City of Toronto$1,820$2,506
#11Toronto West$1,852$2,462
#12Toronto Central$1,819$2,545
#13Toronto East$1,781$2,134
#14York Region$1,792$2,235
#15Aurora$2,053$2,319
#16East GwillimburyN/AN/A
#17GeorginaN/AN/A
#18KingN/A$2,300
#19Markham$1,746$2,228
#20Newmarket$2,150$2,150
#21Richmond Hill$1,798$2,333
#22Vaughan$1,852$2,201
#23Whitchurch-Stouffville$2,000$2,350
#24Durham Region$1,733$2,303
#25Ajax$1,800$2,216
#26BrockN/AN/A
#27Clarington$1,750N/A
#28Oshawa$1,200$2,049
#29Pickering$1,825$2,390
#30ScugogN/AN/A
#31UxbridgeN/A$2,500
#32WhitbyN/A$2,200
#33Dufferin CountyN/AN/A
#34OrangevilleN/AN/A
#35Simcoe County$2,531$3,481
#36Adjala-TosorontioN/AN/A
#37Bradford West GwillimburyN/AN/A
#38EssaN/AN/A
#39Innisfil$2,728$3,546
#40New Tecumseth$1,550$2,000
#41City of Toronto Total$1,820$2,506
#42Toronto W01$2,022$2,697
#43Toronto W02$1,844$2,660
#44Toronto W03$1,763$2,278
#45Toronto W04$1,688$2,169
#46Toronto W05$1,740$2,094
#47Toronto W06$1,922$2,602
#48Toronto W07$1,667$1,944
#49Toronto W08$1,794$2,389
#50Toronto W09$1,875$2,484
#51Toronto W10$1,764$2,146
#52Toronto C01$1,848$2,629
#53Toronto C02$2,002$3,127
#54Toronto C03$1,808$2,560
#55Toronto C04$1,717$3,058
#56Toronto C06$1,700$1,951
#57Toronto C07$1,815$2,319
#58Toronto C08$1,773$2,523
#59Toronto C09$1,999$3,267
#60Toronto C10$1,779$2,550
#61Toronto C11$1,656$2,166
#62Toronto C12$2,275$2,525
#63Toronto C13$1,738$2,292
#64Toronto C14$1,773$2,307
#65Toronto C15$1,767$2,334
#66Toronto E01$1,921$2,413
#67Toronto E02$1,997$2,442
#68Toronto E03$1,755$1,914
#69Toronto E04$1,675$2,010
#70Toronto E05$1,686$2,163
#71Toronto E06$1,825$2,468
#72Toronto E07$1,651$1,995
#73Toronto E08$1,691$2,057
#74Toronto E09$1,688$2,069
#75Toronto E10$1,771N/A
#76Toronto E11$1,672$1,976

Housing Markets Across Canada

Data sourced from the Toronto Regional Real Estate Board (TRREB) and the Canadian Real Estate Association (CREA). Any analysis or commentary is the opinion of the analysts at WOWA.ca and should not be construed as investment advice. Please consult a licensed real estate professional before making a real estate investment decision. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA.