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How Much Does It Cost To Rent A Condo In Toronto?

condo rentals toronto

Many rental clients often ask me an for an update on condo rentals in Toronto and their primary question is focused on how much does it cost to rent a condo in Toronto?

According to recent stats, the average rent per month for a 1-bedroom condo in Toronto has reached $2,300 per month.

The average rental price for a 2-bedroom Toronto condo is now more than $3,000 per month.

The average monthly rent in the Greater Toronto Area rose a total of 16.5% from May 2021 to May 2022.

Recent prices for condo rentals in Toronto units have seen their biggest monthly hike in more than 3 years.

The month of May, 2022 saw a 5.7% increase in rent.

There are a few reasons for these Toronto condo rental price hikes:

  1. Rental prices are returning back to their pre-pandemic norms
  2. There is a reduced supply of rental housing across Toronto which is a concern for many people looking to rent affordable housing
  3. There’s an overall increase in demand of condo and apartment rentals
  4. There’s an Influx of new immigrants in the GTA increasing the population in need of housing

Looking for more Toronto Condo Rental Info and Advice? Contact Me Now To Get Started.

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