Toronto’s condo rental market offers nearly 9,000 options just on Zillow alone—and that’s before you even open realtor.ca. The city’s market is vast and varies wildly depending on whether you want a waterfront penthouse or a budget-friendly Scarborough unit. This guide cuts through the noise: verified prices, neighborhood breakdowns, and a clear path to your next home.

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Total listings on Zillow: 8,754 condos · Average rent Jan 2026: $2,504/month · Condo listing avg: $2,768/month

Quick snapshot

1Confirmed facts
  • Toronto has ~3,000 condos with ongoing growth (Condos.ca)
  • 8,754 condos listed for rent on Zillow (Zillow)
  • Average rent $2,504/month as of January 2026 (Rentals.ca)
2What’s unclear
  • Exact Q1 2026 rental prices post-January unavailable
  • Detailed price comparisons for Yorkville vs Financial District
  • Verified listing count on realtor.ca not confirmed
3Timeline signal
  • Rents dropped from peak $2,600 (late 2023) to $2,224 (April 2025) for students (Market analysis)
  • Ontario capped rent increases at 2.5% for 2026 (Vistoo)
4What’s next
  • Rental growth projected at 4%–6% for 2026 (Vistoo)
  • Continued demand from professionals, students, newcomers (Vistoo)
Label Value
Top listing site realtor.ca (6747 results)
Alternative aggregator Zillow (8,754 condos)
Canadian focus condos.ca Toronto data ($2,768 avg)
Map-based search rentals.ca Toronto rentals

Downtown Toronto Condos rent

Toronto’s downtown core has been reshaped by a condo boom that put the waterfront and Distillery District on every renter’s radar. The city divides into four districts—Etobicoke-York, North York, Scarborough, and Toronto-East York—spanning 158 neighborhoods in total, with the core commanding premium rents.

Availability and listings

Zillow shows 8,754 condo rentals available citywide, with downtown listings featuring photos, map views, and filters for price, bedrooms, and amenities. Realtor.ca holds 6,747 listings with MLS data that renters trust for verified information.

Price ranges

Sample downtown rentals on Zillow include a 3-bedroom at C$2,900/month, a 1-bedroom at C$1,495+, and another 1-bedroom starting at C$2,200+. Average downtown student rents dropped from peak $2,600 in late 2023 to $2,224 by April 2025.

Popular buildings

The Distillery District and Waterfront Toronto neighborhoods rank among the most sought-after, with buildings offering modern amenities and walkable access to employment hubs. Downtown condo prices dipped 1.7% in November 2025 according to Toronto Regional Real Estate Board data.

Bottom line: Downtown Toronto delivers the highest volume and the highest prices—expect to pay $2,200+ for 1-bedrooms in prime locations, though the market has softened slightly since 2023 peaks.

Condos for rent Toronto 1 bedroom

One-bedroom condos represent the sweet spot for singles and young professionals: affordable enough to enter the market, central enough to avoid long commutes. November 2025 data shows average one-bedroom rent at $2,222, ranking third highest in Canada.

Average rents

Average one-bedroom rent sits at $2,222 per month as of November 2025. New construction commands a 19.27% premium—renters pay $2,650 versus $2,222 in older buildings. Zillow’s filters let you sort by price, square footage, and amenities to find the right fit.

Locations

Central locations dominate 1-bedroom inventory, with rentals.ca offering a map-based search to pinpoint options near subway lines and employment centers. High volume availability means renters can comparison-shop across neighborhoods.

Amenities

Modern condos typically include in-unit laundry, gym access, and concierge services. Budget options in older buildings may lack some amenities but offer lower rents and often more square footage.

Bottom line: One-bedroom condos average $2,222–$2,650 depending on building age. Use map filters on rentals.ca or Zillow to compare central vs. peripheral options before signing.

2 bedroom condo for Rent Toronto

Two-bedroom condos appeal to roommates, couples, and small families willing to pay for extra space. The trade-off is significant: average two-bedroom rent runs $2,228, or $606 more per month than a one-bedroom.

Family options

Two-bedroom units in family-friendly neighborhoods often include parking—a major cost savings in downtown Toronto where street parking is scarce. Condos.ca lists current averages alongside historical pricing so renters can gauge value.

Pricing

New construction two-bedrooms average $3,525/month compared to $2,828 in older buildings—a 24.64% premium. Realtor.ca photos and detailed price listings help renters spot the difference between comparable units.

Neighborhoods

North York and Scarborough offer more affordable two-bedroom options than the downtown core. Scarborough averages $90 less per month for one-bedrooms than North York, a gap that likely extends to two-bedroom pricing.

Bottom line: Two-bedroom condos cost roughly $606 more monthly than one-bedrooms. Families and roommates should target North York or Scarborough for better value; couples seeking space should compare older buildings before paying a new-construction premium.

Luxury condos for rent Toronto

Luxury condos for rent in Toronto command top dollar for premium features, waterfront views, and concierge-level service. The segment represents a distinct market tier where renters pay for lifestyle, not just square footage.

High-end features

Waterfront condos and high-rise units in the Financial District feature rooftop terraces, infinity pools, 24-hour security, and private gyms. Zillow’s detailed filters let renters narrow by amenities like parking, pet-friendliness, and in-unit laundry.

Waterfront vs downtown

Waterfront Toronto and the Distillery District lead the luxury segment, with condo prices outperforming broader market indices over the past decade. Downtown core units trade location prestige for premium rents, while waterfront properties add scenic appeal.

Rental rates

Sample luxury rentals on Zillow include 3-bedroom units at $2,900/month in prime locations. Condos.ca and zolo.ca list premium waterfront options with full photo galleries and feature breakdowns.

Bottom line: Luxury condos cost $2,900+ for 3-bedrooms, with waterfront units commanding the highest premiums. Verify what’s included—some buildings bundle utilities, others don’t.

Affordable Condos for rent Toronto

Toronto’s reputation for sky-high rents obscures real budget options in neighborhoods like Bendale, Eglinton East, and New Toronto, where condos rent for $2,000–$2,649. The trick is knowing where to look.

Budget options

Apartments.com documents affordable condo rentals starting from $2,000 in neighborhoods like Bendale, Eglinton East, and New Toronto. Rentals.ca offers an easy search interface to filter by price ceiling and location.

Scarborough and outskirts

Scarborough averages $90 less per month for one-bedrooms than North York, according to November 2025 data. Outlying neighborhoods trade downtown access for meaningful savings—useful for renters with vehicles or tolerance for longer commutes.

Value comparisons

Realtor.ca starting prices reveal significant variation: older buildings in Scarborough undercut downtown new-construction units by 20–30%. Three-bedroom averages exceed $3,300/month in sought-after areas, making multi-bedroom Scarborough units particularly attractive for families.

Bottom line: Budget renters should target Scarborough, Bendale, and Eglinton East where $2,000–$2,649 buys condos with real space. The trade-off is commute distance—factor transit costs into your savings calculation.
The trade-off

New construction commands a 19–25% premium over older units across all bedroom types. For renters who don’t need the latest amenities, older buildings deliver 80% of the lifestyle at 75% of the price.

Rental prices across Toronto’s condo market follow three clear patterns: bedroom count drives cost, building age creates premium tiers, and location determines baseline pricing.

Unit type Older building avg New construction avg Premium
Studio $1,600/mo $2,100/mo +31.25%
1 bedroom $2,222/mo $2,650/mo +19.27%
2 bedroom $2,828/mo $3,525/mo +24.64%
3 bedroom $3,300+/mo $4,100/mo +24.24%

Renters face a stark choice across every bedroom tier: pay for new construction prestige, or pocket the savings with an older unit.

Upsides

  • High volume—8,754 condos on Zillow alone means options at every price point
  • Geographic variety across 158 neighborhoods from waterfront luxury to Scarborough value
  • Established platforms (Realtor.ca, Zillow, rentals.ca) provide verified MLS data
  • Ontario’s 2.5% rent cap limits annual increases for existing tenants

Downsides

  • Downtown 1-bedrooms still average $2,222—third highest in Canada
  • New construction premiums of 20–31% over older buildings
  • Vacancy rates remain extremely low, giving landlords leverage
  • Micro-condo market facing headwinds in 2026 could affect rental availability

How to search for condos for rent Toronto

Finding the right condo rental in Toronto requires a systematic approach: identify platforms, filter strategically, verify listings, and move quickly on good units.

  1. Start with major aggregators: Check realtor.ca for MLS-verified listings, Zillow for volume and photos, and condos.ca for Canadian-specific market data. Rentals.ca adds map-based search functionality.
  2. Filter by neighborhood and budget: Use price ceilings and location filters to narrow to your target area—downtown for access, Scarborough for savings. Remember Scarborough averages $90 less than North York for comparable units.
  3. Verify listing details: Cross-reference photos on Zillow with price data on condos.ca. Look for recent price drops or increases to gauge market direction. Downtown condo prices dipped 1.7% in November 2025.
  4. Prepare your application: Required documents typically include credit reports, proof of income, and references. Credit scores above 650 generally improve approval chances; landlords may require first and last month’s rent.
  5. Understand lease terms: Typical leases run 12 months. Check whether utilities are included—luxury buildings often bundle them, budget options may not. Ontario’s 2.5% rent cap applies to annual increases for existing tenants.
Why this matters

Vacancy rates remain extremely low in Toronto, giving landlords competitive leverage. Rental growth projected at 4–6% for 2026 means waiting for a “better deal” may backfire—prices are more likely to rise than fall in most neighborhoods.

For 2026, the rent increase guideline remains capped at 2.5%, the same maximum allowed the previous year for Ontario’s housing market.

— Housing Analyst, Vistoo Blog

In Toronto’s downtown core, average condo prices were down 1.7% in November.

— Toronto Regional Real Estate Board (MPA Magazine)

Toronto’s condo rental market rewards preparation and punishes indecision. With 8,754 options on Zillow and another 6,747 on realtor.ca, the supply exists—but vacancy rates remain stubbornly low, and demand from professionals, students, and newcomers keeps pressure on prices.

Rental growth is projected at 4%–6% for 2026, meaning January 2026’s $2,504 average will likely climb. The Ontario rent cap of 2.5% limits increases for existing tenants but doesn’t stop market forces from pushing new lease rates higher. For renters who find a unit that fits their budget and location needs, acting quickly matters more than waiting for the “perfect” moment.

Related reading: Maple Leafs vs Stars · Blue Jays vs Yankees

Additional sources

apartments.com

Toronto’s condo rental market offers over 8,700 listings, with 2025 prices and neighborhoods reflecting increased supply and softer demand into 2025.

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Frequently asked questions

How do I apply for condos for rent in Toronto?

Submit applications through each platform’s portal—realtor.ca, Zillow, or rentals.ca. Applications typically require a credit check, proof of income (pay stubs or employment letter), references, and a completed rental application form. Some landlords use third-party screening services.

What documents are needed to rent a condo in Toronto?

Prepare: government-issued ID, credit report, proof of income (2–3 months of pay stubs or a letter from employer), bank statements, and references from previous landlords. Self-employed renters may needNotice of Assessment or contracts as income proof.

Are utilities included in Toronto condo rents?

It varies by building. Luxury condos often bundle heat, water, and sometimes electricity. Budget options typically require tenants to set up accounts separately. Always verify before signing—what’s included directly affects your effective rent.

What is the average security deposit for Toronto condos?

Landlords typically request first and last month’s rent upfront—sometimes called a “last month rent deposit.” Security deposits beyond this are regulated under Ontario’s Residential Tenancies Act. Illegal charges are refundable.

Can I find furnished condos for rent in Toronto?

Yes, though furnished units command a premium. Short-term corporate leases and Airbnb-style rentals exist downtown, with some options starting around $207/night for vacation condos. Monthly furnished rates run 15–25% above unfurnished equivalents.

What credit score is required for Toronto condo rentals?

Credit scores above 650 improve approval chances; 700+ often secures the best units in competitive buildings. Landlords run credit checks through Equifax or TransUnion. Lower scores may require a co-signer or larger security deposit.

How long are typical lease terms for Toronto condos?

Standard leases run 12 months. Monthly tenancies are possible but less common—landlords prefer annual commitments. Ontario’s rent increase cap (2.5% for 2026) applies to existing tenants; new leases can negotiate different terms.

Are there short-term condos for rent in Toronto?

Short-term options exist through platforms like Travelocity and Airbnb, with rates from CA $207/night for vacation condos. Note that Toronto’s short-term rental regulations are evolving—verify compliance requirements before booking or listing.