Toronto Rent Prices — Updated for May 2026

Report for May 2026 · Updated monthly by Door Insight

The median rent for a two-bedroom unit in Toronto is $2,600 per month as of May 2026. One-bedroom units are asking $2,150, two-bedrooms $2,600, and three-bedrooms $3,380. Asking rents have declined 5.5% compared to the same period last year.

Toronto Rent Trends — Historical Chart

Dwelling Type
Timeframe

Toronto Rental Market Summary — May 2026

The median asking rent for a two-bedroom unit in Toronto is $2,600 per month as of May 2026. Month-over-month, two-bedroom rents declined 1.9%. One-bedroom units are listing at a median of $2,150, while three-bedroom units sit at $3,380. The two-bedroom segment is moving fastest year-over-year at -5.5%.

Year-over-year, Toronto's two-bedroom median asking rent has decreased 5.5%. One-bedroom rents moved -2.3% over the same period. Three-bedroom rents shifted -3.4% year-over-year. These figures reflect asking rents from active listings analysed by Door Insight.

By Property Type

Condo two-bedroom units in Toronto have a median asking rent of $2,600 (-5.5% YoY). House two-bedroom units in Toronto have a median asking rent of $2,425 (+1% YoY).

Property managers in Toronto should consider current market trajectory when setting rental rates. The data on this page provides a baseline for pricing decisions across Toronto's rental market. For property-specific estimates, Door Insight's Rent Estimator provides address-level analysis.

Average Rent in Toronto by Bedroom Count

The table below shows median and average asking rents in Toronto, Ontario as of May 2026.

Bedrooms Median Rent Average Rent Month-over-Month Year-over-Year
1 Bedroom $2,150 $2,153 ↑ 0% ↓ 2.3%
2 Bedroom $2,600 $2,769 ↓ 1.9% ↓ 5.5%
3 Bedroom $3,380 $3,611 ↓ 2% ↓ 3.4%

Among the bedroom types tracked in Toronto, 1 Bedroom units are showing the strongest year-over-year movement. Property managers pricing 1 bedroom units may have additional room to adjust asking rents, while slower-moving segments may warrant more competitive positioning to minimise vacancy.

Toronto Rent by Property Type

Rental rates in Toronto differ by property type. The table below breaks down median two-bedroom rents as of May 2026.

Property Type Median Rent (2BR) Month-over-Month Year-over-Year
All Types $2,600 ↓ 1.9% ↓ 5.5%
Condo $2,600 ↓ 1.9% ↓ 5.5%
House $2,425 ↑ 1% ↑ 1%

Among property types, House rents are growing the fastest year-over-year, while Condo rents are growing the slowest.

Condo Rent in Toronto

Bedrooms Median Rent Average Rent YoY Change MoM Change
1 Bedroom $2,200 $2,211 ↑ 0% ↑ 0%
2 Bedroom $2,600 $2,807 ↓ 5.5% ↓ 1.9%
3 Bedroom $3,450 $3,697 ↓ 4.2% ↓ 1.4%

House Rent in Toronto

Bedrooms Median Rent Average Rent YoY Change MoM Change
1 Bedroom $1,800 $1,843 ↑ 0% ↑ 0%
2 Bedroom $2,425 $2,518 ↑ 1% ↑ 1%
3 Bedroom $3,000 $3,401 ↓ 3.2% ↓ 3.2%

How Does Toronto Rent Compare?

Toronto vs. Nearby Cities

City Median Rent (2BR) vs. Toronto
Ottawa $2,395/mo -7.9%
Mississauga $2,350/mo -9.6%
Hamilton $1,992/mo -23.4%
Brampton $1,900/mo -26.9%

Among nearby markets, Brampton offers the lowest two-bedroom median at $1,900/mo, while Ottawa is the most expensive at $2,395/mo. These differences can influence tenant migration patterns and pricing strategies for property managers operating across the Ontario market.

What This Means for Property Managers in Toronto

Pricing Guidance

Based on current data, the median two-bedroom asking rent in Toronto is $2,600 per month. One-bedroom units are asking $2,150, and three-bedroom units list at $3,380. With two-bedroom rents down 5.5% year-over-year, the data suggests a more cautious approach to pricing increases. When pricing by property type: condo units have a median two-bedroom rent of $2,600; house units have a median two-bedroom rent of $2,425; Property managers should benchmark their asking rents against these figures and adjust based on unit condition, location, and amenities.

Lease Renewal Strategy

In a softening market with rents down 5.5% year-over-year, Toronto property managers may want to prioritise retention over rent increases. Holding steady on renewals can minimise vacancy and turnover costs.

Market Outlook

Based on current trends, Toronto's rental market is experiencing a cooling period. The most recent month-over-month movement of -1.9% provides a near-term signal for pricing direction. This is data-informed analysis based on listing trends and should not be treated as a guarantee of future market conditions. Property managers may want to monitor Door Insight's monthly updates for the latest figures.

About This Report

Data Sources

This Toronto rental market report is based on active and recently listed rental units analysed across major Canadian listing platforms during May 2026. Data is aggregated from listings across Canada and refreshed monthly.

Methodology

Both median and average rents are provided for each bedroom count. The median is used as the primary measure because it is less affected by extreme values at either end of the price range. All figures reflect asking rents (listed prices), which may differ from final lease prices negotiated between landlord and tenant.

Data Confidence

Neighbourhoods and property types with smaller sample sizes may be less representative of actual market conditions. Where sample sizes are shown, they can be used to gauge the reliability of that data point.

Update Schedule

This report is updated monthly. The next update is expected in July 2026.

Frequently Asked Questions About Renting in Toronto

What is the average rent in Toronto?
The median rent for a two-bedroom unit in Toronto is $2,600 per month. The average rent for a two-bedroom is $2,769 per month. One-bedroom units have a median asking rent of $2,150. Three-bedroom units have a median asking rent of $3,380. These figures are based on current listing data analysed by Door Insight.
How much should I charge for a 2-bedroom rental in Toronto?
The median two-bedroom rental rate in Toronto is $2,600 per month across all property types. By type: Condo at $2,600, House at $2,425. For a property-specific estimate based on exact address, unit size, and features, use Door Insight's Rent Estimator tool.
Is rent going up or down in Toronto?
Toronto rents are falling. The median two-bedroom asking rent has changed 5.5% year-over-year. Month-over-month, two-bedroom rents moved 1.9%. This data reflects current listing prices analysed by Door Insight.
What is the vacancy rate in Toronto?
Vacancy rate data for Toronto is updated periodically on Door Insight. Check back for the latest figures on rental vacancy in the Toronto market.
Which Toronto neighbourhood has the highest rent?
Neighbourhood-level rent data for Toronto is available through Door Insight's Market Rent Pro platform. Premium neighbourhoods typically command the highest asking rents in the city.
Which Toronto neighbourhood has the lowest rent?
For a detailed neighbourhood breakdown of Toronto rental rates, including the most affordable areas, explore Door Insight's neighbourhood data tools.
How do Toronto rents compare to other Ontario cities?
Toronto two-bedroom median rents have decreased 5.5% year-over-year. For direct comparisons to other Ontario cities, see the city comparison section on this page or explore individual city reports on Door Insight.

Get a Rent Estimate for Your Property

The city-level data on this page provides a market overview for Toronto. For a property-specific estimate based on exact address, unit size, and features, try Door Insight's Rent Estimator.

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