City of Toronto Average Market Rents 2019
Residential Rents continue to rise in hot Sellers’ market
The City of Toronto has an annual guide of what the average rents are for different types of suites. These figures are published by the CMHC. In downtown Toronto, quality apartments for rent are hard to come by so I think many of these figures are actually low. It is not uncommon to see two-bedroom apartments in top locations go for over $2000. There was also a time when a basement apartment would never see more than $1000, but nowadays it is hard to find anything under that.
| Unit Size | 2019 Average Market Rent | 2019 80% of Average Market Rent |
|---|---|---|
| Hostel | $839 | $671 |
| Bachelor apartment | $1,089 | $871 |
| 1 bedroom apartment | $1,270 | $1,016 |
| 2 bedroom apartment | $1,492 | $1,194 |
| 3 bedroom apartment | $1,664 | $1,331 |
| 4 bedroom apartment | $1,954 | $1,563 |
| 5 bedroom apartment | $2,185 | $1,748 |
| 2 bedroom townhouse | $1,660 | $1,328 |
| 3 bedroom townhouse | $1,731 | $1,385 |
| 4 bedroom townhouse | $2,203 | $1,763 |
| 5 bedroom townhouse | $2,548 | $2,038 |
