Rent affordability guide · CA

Cost of living in Toronto: salary and rent guide

Typical 1-bedroom rent in Toronto ranges from CA$1,500 to CA$3,800/month. To live comfortably here you generally need at least CA$96,000/year.

Rent distribution in Toronto

CA$1,500

Budget

cheapest 10%

CA$2,400

Median

most common

CA$3,800

Premium

top 10%

These figures are for a 1-bedroom apartment equivalent in Toronto. Prices vary significantly by neighbourhood.

What salary do you need?

To afford median rent comfortably (25%)CA$115,200/yr

To afford median rent at 30% (standard)CA$96,000/yr

To afford budget rent comfortably (25%)CA$72,000/yr

How locals spend in Toronto

Renters in Toronto typically spend 26–46% of their gross income on rent.

25th percentile of renters26%

Median renter35%

75th percentile of renters46%

Source: CMHC Rental Market Report 2023 + Statistics Canada income data · 2023

Rental market overview

Toronto's rental market is among the most strained in North America. A severe shortage of rental-purpose housing, combined with record immigration and limited development (particularly in low-rise neighbourhoods protected by exclusionary zoning), has pushed rents to historically high levels. The Ontario rent control regime applies only to pre-2018 units, leaving most newly built apartments unprotected.

Toronto's financial district, tech corridor (King West / Queen West), and University of Toronto all generate intense demand for downtown and midtown rentals. New arrivals — Canada accepts 400,000+ immigrants per year — disproportionately settle in the Greater Toronto Area, adding persistent structural demand.

Renter tip

Scarborough and North York offer the best value within city limits, with TTC access and rents 25–35% lower than downtown. Mississauga and Brampton in the 905 area code are even cheaper if you're willing to commute.

Neighbourhood guide

Budget areas

Scarborough1-bed typically C$1,700–$2,100/mo

North York1-bed typically C$1,800–$2,300/mo

Etobicoke1-bed typically C$1,900–$2,400/mo

Mid-range areas

The Annex1-bed typically C$2,400–$3,000/mo

Leslieville1-bed typically C$2,300–$2,900/mo

Liberty Village1-bed typically C$2,400–$3,100/mo

Premium areas

King West / Entertainment District1-bed from C$2,800/mo

Yorkville / Bloor-Yonge1-bed from C$2,800/mo

Distillery District1-bed from C$2,600/mo

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Explore Toronto in detail

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Compare Toronto with

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Frequently asked questions

What is the average rent in Toronto?

A 1-bedroom apartment in Toronto averages C$2,300–$2,800/month for the city proper, with downtown units frequently exceeding C$3,000. Suburban areas within the GTA can be found for C$1,800–$2,200.

Is Toronto more expensive than Vancouver for rent?

Toronto and Vancouver are closely matched. Vancouver's detached rental market is pricier, but Toronto's condo rental market — which dominates supply — is comparable. Both cities sit among the top 5 most expensive in North America.

Are there rent controls in Toronto?

Ontario's rent control rules apply to most residential units built or occupied before November 15, 2018, capping annual increases to the province's rent increase guideline (typically 2–3%). Units built after that date are exempt, meaning new condo rentals can see uncapped increases between tenancies.