Rental Prices in Toronto for Two Bedroom Apartments
If you're sharing an apartment in Toronto most likely you're sharing a two bedroom apartment. What can you expect to pay for a two bedroom apartment in Toronto? The information below should give you a good idea. Below we provide rental rate information from various sources.
CMHC Survey - the price that existing tenants are paying for two bedroom apartments in Toronto (rentals in apartment buildings)
Rental Listing Data - the price that vacant two bedroom apartments in Toronto are listed for (apartment and condo rentals)
CMHC produces an annual survey of landlords and their October 2021 survey produced the following results for two bedroom apartments in the city of Toronto. Keep in mind, these rental rates do not include condo rentals (which would be higher than typical apartment prices). Also worth noting, these rates may be lower than you see advertised as they include what people are currently paying for their apartment - which is different than what the apartment would rent for when it becomes available. As expected, the closer you would like to live to downtown Toronto, the more you will pay.
On average, across the entire city of Toronto, those sharing a two bedroom apartment pay around $850 each per month - with downtown being around $1220 each per month.
View rates for 2 bedroom apartments by area of Toronto:
Entire city of Toronto: $1705/month
Former city of Toronto (i.e. closer to the core): $2080/month
Downtown Toronto: $2450/month
North York: $1610/month
Etobicoke: $1660/month
East York: $1560/month
York: $1605/month
Scarborough: $1480/month
The same survey noted that the vacancy rate in Toronto is 4.9%.
Rental Listing Data
As mentioned, the CMHC survey above tends to present rental rates lower than what you may see advertised. The sources below may provide a more 'real world' view of what apartments are priced at. Of note, these rents reflect all types of units: apartments, condos, and houses.
Two bedroom apartment rents, as reported by other sources:
Surveys and reports are great, but what are renters experiencing on the street right now? Below is a news feed of articles that discuss the apartment/condo rental market in Toronto. If you scroll far enough, you can get an idea of what has occured historically as well.
and their October 2021 survey produced the following results for two bedroom apartments in the city of Toronto. Keep in mind, these rental rates do not include condo rentals (which would be higher than typical apartment prices). Also worth noting, these rates may be lower than you see advertised as they include what people are currently paying for their apartment - which is different than what the apartment would rent for when it becomes available. As expected, the closer you would like to live to downtown Toronto, the more you will pay.