Average Rent in Toronto by Neighbourhood (2025 Data)
January 10, 2025 · 8 min read
Toronto rental market overview
Toronto remains one of Canada's most expensive rental markets. Average rents have stabilized compared to the 2022–2023 peak, but vacancy rates remain below 2%, keeping upward pressure on prices.
Average rents by bedroom count (2025)
| Bedroom type | Average monthly rent | Change YoY |
|---|---|---|
| Bachelor / Studio | $1,650 | +2.1% |
| 1 bedroom | $2,100 | +1.8% |
| 2 bedrooms | $2,750 | +2.4% |
| 3 bedrooms | $3,400 | +3.1% |
Average rents by neighbourhood
Prices are for a 1-bedroom unit and represent the median asking rent across active listings on Convass and other platforms as of January 2025.
| Neighbourhood | 1BR avg rent | Trend |
|---|---|---|
| Downtown Core (Bay Street Corridor) | $2,400 | Stable |
| King West / Liberty Village | $2,300 | -1.5% |
| The Annex | $2,200 | +2.0% |
| Leslieville / Riverside | $2,050 | +3.2% |
| Danforth / East York | $1,900 | +2.8% |
| North York (Yonge/Sheppard) | $2,150 | +1.2% |
| Scarborough | $1,750 | +4.1% |
| Etobicoke | $2,000 | +1.9% |
What's driving rents
- Record immigration — 465,000 new permanent residents in 2024 nationally
- Sub-2% vacancy rate in the City of Toronto
- Rising construction costs slowing new supply
- Interest rate cuts encouraging more demand from would-be buyers stuck renting
Finding a rental on Convass
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