toronto apartments

Average rent for two bedroom apartment in Toronto passes $2,500

There doesn't seem to be any sign of Toronto's rental marking cooling down anytime soon, as new data indicates that the median price for a two bedroom apartment has passed the $2,500 mark.

A new report from apartment listing site Padmapper shows that Toronto two bedroom rental prices inched up 1.2 per cent this month to average around $2,550, while one bedrooms weren't far behind, up 2 per cent to $2,060. 

When compared with other cities, Toronto now holds strong as the most expensive rental market in the country, with Vancouver's rates fluctuating as one bedrooms fell to $1,990 and two bedrooms rounded out to a whopping $3,200.

The sliver lining might be that the discrepancy between Toronto's one bedroom and two bedroom rates are not off by much, which is something you can't say about Vancouver. Still, the combination of a low vacancy rate and soaring prices leaves our rental market looking bleak

All this means is that if you're still trying to figure out how you're going to afford your phone bill, you may want to explore all viable living options.

Lead photo by

Lori Whelan


Latest Videos



Latest Videos


Join the conversation Load comments

Latest in City

Toronto's Love Park pond just got drained because of someone's dumb stunt

Family of flies native to Ontario has a potent neurotoxic bite and even eats birds

These Ontario companies were voted among best places to work in Canada for 2024

Toronto just agreed on a solution to nightmare gridlock traffic on Spadina

Man walks on water in giant bubble to protest the loss of a Toronto beach

Canadians could cash in on proposed prescription antibiotics class action

Toronto to spend a combined $135 million on new island ferries and other upgrades

Toronto might be getting 'relief' ferries to handle overwhelming island crowds