Cost of Living: Compare Canadian city costs and build a budget framework with our Canadian Cost of Living Guide.
The average rent for a 1-bedroom in Toronto is approximately $2,400/month in 2026. Toronto remains one of Canada’s most expensive rental markets, though growth has slowed compared to the rapid increases of 2022–2023.
Average Rent by Unit Type
| Unit Type | Average Rent | vs. National Average |
|---|---|---|
| Studio | $1,900 | +36% |
| 1-Bedroom | $2,400 | +33% |
| 2-Bedroom | $3,100 | +41% |
| 3-Bedroom | $3,800 | +46% |
Rent by Neighbourhood
| Neighbourhood | 1-BR Avg | 2-BR Avg | Vibe |
|---|---|---|---|
| Downtown Core | $2,600 | $3,400 | Urban, walkable |
| Liberty Village | $2,500 | $3,200 | Young professionals |
| North York | $2,200 | $2,800 | Suburban-urban mix |
| Scarborough | $1,900 | $2,400 | Affordable, diverse |
| Etobicoke | $2,100 | $2,700 | Family-friendly |
| The Annex | $2,300 | $3,000 | University area |
| Yorkville | $3,000 | $4,200 | Luxury |
| Leslieville | $2,400 | $3,100 | Trendy, artsy |
| Mississauga (Sq One) | $2,200 | $2,800 | Suburban alternative |
| Brampton | $1,800 | $2,300 | Most affordable GTA |
Income Needed to Afford Rent
Using the 30% rule for housing:
| Unit Type | Monthly Rent | Gross Income Needed |
|---|---|---|
| Studio | $1,900 | $76,000/year |
| 1-Bedroom | $2,400 | $96,000/year |
| 2-Bedroom | $3,100 | $124,000/year |
| 2-BR (shared) | $1,550/person | $62,000/year each |
Rent Trends
| Year | 1-BR Average | YoY Change |
|---|---|---|
| 2020 | $1,800 | — |
| 2021 | $1,750 | -2.8% |
| 2022 | $2,100 | +20% |
| 2023 | $2,350 | +11.9% |
| 2024 | $2,400 | +2.1% |
| 2025 | $2,400 | +0% |
| 2026 | $2,400 | +0% |
Rents have stabilized after the massive 2022–2023 surge.
Toronto vs. Other Cities
| City | 1-BR Avg | vs. Toronto |
|---|---|---|
| Vancouver | $2,600 | +8% |
| Toronto | $2,400 | — |
| Ottawa | $1,900 | -21% |
| Calgary | $1,700 | -29% |
| Montreal | $1,600 | -33% |
| Edmonton | $1,400 | -42% |
| Winnipeg | $1,300 | -46% |
Tips to Save on Rent in Toronto
| Strategy | Potential Savings |
|---|---|
| Move to Scarborough or Brampton | $300–$600/month |
| Get a roommate (split 2-BR) | $500–$800/month |
| Rent during winter (lower demand) | $100–$200/month |
| Look for older buildings (rent control) | Locked-in rates |
| Negotiate at lease renewal | $50–$150/month |
Bottom Line
Toronto’s rents are steep but have plateaued in 2025–2026. A 1-bedroom costs $2,400/month — requiring roughly $96K income to afford comfortably. Living in the inner suburbs or splitting a unit with a roommate can significantly reduce costs.
See our how much rent can I afford calculator or average rent in Canada for national comparisons.
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