Open ProvincesToronto, Ontario: rent and cost facts
Average rents from CMHC's rental market data for Toronto, with the provincial minimum wage and local housing indicators where Statistics Canada publishes them.
Average rent (CMHC, 2025)
| Type of unit | Average rent per month |
|---|---|
| Studio | $1,491 |
| 1 bedroom | $1,761 |
| 2 bedrooms | $2,045 |
| 3 bedrooms or more | $2,294 |
What the rent means in hours of work
A 1-bedroom at the average rent takes about 98 hours of work a month at the Ontario minimum wage ($17.95/hour), or 56% of a month of full-time work (40 hours a week).
Local housing and fuel figures
| Rental vacancy rate (apartments of six units or more, October 2025) | 3.0% Previous year : 2.5% |
|---|---|
| New housing price index (December 2016 = 100, 2026-09) | 105.0 A year earlier : 110.4 |
| Regular gasoline (2026-09) | 183.7 ¢/L A year earlier : 138.9 ¢/L |
| Residential property tax rate (2026, as published by the city) | 0.767% of assessed value (city 0.605%, education 0.153%, City Building Fund 0.009%) |
Rents are averages for existing units in purpose-built rental buildings and are not what a new listing will ask. Hours of work are an illustration, not a budget.
More for Ontario
Sources
- CMHC / Statistics Canada: Statistics Canada, Table 34-10-0133-01 (CMHC, average rents for areas with a population of 10,000 and over) ↗
- Canada Mortgage and Housing Corporation, Rental Market Survey (Statistics Canada Table 34-10-0127-01), apartment structures of six units and over, October ↗
- Statistics Canada, Tables 34-10-0158-01 (CMHC housing starts, seasonally adjusted at annual rates) and 18-10-0205-01 (new housing price index, total house and land, 201612=100) ↗
- City of Toronto: property tax rates and fees ↗