toronto apartment

Cost of renting an apartment in Toronto continues to soar

Toronto renters are really feeling the pinch right now. As the real estate market soars, so too does the rent for apartments around the city. According to new figures from Padmapper, an apartment listings site, the median cost of a one bedroom unit in Toronto has climbed to $1,550 this month. A two bedroom comes in at $,1970.

To put that into perspective, when the company started tracking this data back in June 2016, the median was $1,320. I'm not so hot at math, but I'm going to take a risk and say that increase outpaces the rate of inflation by just a little bit.

Still, despite laying claim to the title of hottest real estate market in the country, Toronto still trails Vancouver when it comes to the cost of rent. In that city, the median cost of a one bedroom rental this month is $1,870, while a two bedroom is a whopping $3,150.

If that's a window into our near future, it's a scary picture indeed.

Lead photo by

Derek Flack


Latest Videos



Latest Videos


Join the conversation Load comments

Latest in City

Ontario freezes university and college tuition fees for three years

Toronto drivers could soon have to pay hefty fines for this common mistake

Ontario's latest political flame war is playing out in the form of cat memes

Toronto's newest transit tunnels now stretch 5km and they're only getting longer

Chaotic video shows wild deer swimming in pool at Ontario rec centre as staff give chase

Fundraiser raises over $35k for father of four killed in brazen daytime shooting in Toronto

Toronto to break another heat record before temperatures plummet by over 20 degrees

Last chance for Canadians to cash in on $20M settlement if prescribed these drugs