Rent in Toronto
📍 Rent in Toronto: Summer 2025 Market Update & Tips
Thinking about renting in Toronto this summer? You’re in luck. 2025 is finally giving tenants some breathing room after years of relentless rent increases. Let’s explore what you need to know about Toronto’s rental market this summer—from average rents and trends to essential tips for finding the right place.
🏙️ Toronto Rent Overview: Summer 2025
After years of climbing rents, the market is cooling slightly. Thanks to a wave of new condo completions and purpose-built rentals hitting the market, there’s more choice for tenants—and more negotiating power.
Average rents (June 2025):
- Studio / Bachelor: ~$1,456/month
- 1-bedroom (unfurnished): ~$2,078/month (down ~$162 YoY)
- 2-bedroom (unfurnished): ~$2,374/month (down 4.3% YoY)
- 3-bedroom: ~$2,850 (condo), ~$3,254–$4,432 (furnished)
Short-term rental rates range from ~$1,605 to ~$2,965/month depending on size and location.
👉 Bottom line: prices are softer, especially for smaller units, giving tenants a chance to shop around.
📈 Key Market Trends
✅ More Supply = More Choice
A record number of new rental units—including condos and purpose-built apartments—are now available, boosting vacancy rates and giving tenants real leverage in negotiations.
✅ Demand Still Strong
Toronto’s population is still growing thanks to immigration and urban migration, but recent policy changes and interest rate adjustments have cooled the pace slightly.
✅ Vacancy Rates Ticking Up
Vacancy rates in some areas have increased to around 1.5–1.6%—still low by historical standards, but much better than the ultra-tight markets of recent years.
✅ Affordability Relief
Average rents have dropped 3–4% year-over-year for many unit types. In some neighborhoods, 1-bedrooms are available for under $2,000—a welcome shift for renters priced out last year.
🏠 Typical Rents by Unit Type (2025)
| Unit Type | Avg. Monthly (Unfurnished) | Avg. Monthly (Furnished) | Notes |
|---|---|---|---|
| Studio / Bachelor | ~$1,456 | — | Most affordable entry point |
| 1-Bedroom | ~$2,078–$2,343 | ~$2,621 (downtown) | Slight year-over-year decrease |
| 2-Bedroom | ~$2,374–$3,036 | ~$3,102 (downtown) | Prices stable or down in many areas |
| 3-Bedroom | ~$2,850 (condo) | ~$3,254–$4,432 | Higher demand for family-sized units |
📍 Neighborhood Variations
- Downtown Core: Still commands the highest rents, but small-unit prices have softened with new supply.
- North York, East York, Mississauga: More pronounced rent declines, with some 1-bedrooms under $2,000.
- Suburbs: Increasingly popular thanks to improved transit and relative affordability.
🧭 Tips for Renting in Toronto, Summer 2025
✅ Use Your Leverage
Landlords know there’s more competition. Negotiate rent reductions or perks like free parking or storage.
✅ Be Prepared
Landlords are still choosy. Have your paperwork ready: credit report, pay stubs, employment letter, references.
✅ Shop Around
Don’t jump at the first place. With increased inventory, you can compare prices and amenities.
✅ Check Rent Control
Ontario’s 2025/2026 rent increase guideline is capped at 2.5%—but only for units under rent control. Newer buildings (occupied after Nov 15, 2018) might be exempt.
✅ Avoid Overpaying Upfront
Legally, landlords can only ask for first and last month’s rent upfront—no extra deposits allowed.
✅ Short-Term Options Abound
Need flexibility? Toronto has a growing number of short-term and monthly rental options, often at discounted rates for longer bookings.
📊 Market Outlook
- Short-term: Expect rents to remain stable or decline slightly through 2025, especially for studios and 1-bedrooms.
- Long-term: Toronto’s rental market will stay in demand, driven by population growth—but new supply should help moderate future price spikes.
✅ Final Word
Summer 2025 represents a shift in power toward renters in Toronto. For the first time in years, tenants have more choice, more room to negotiate, and a better shot at finding a home that truly fits their needs and budget.
👉 Ready to start your search?
Start your journey with Rent-Life.ca and download the Rent Life App today!
And don’t forget to protect your new place with Duuo Insurance.
Links;
[1] https://liv.rent/blog/rent-reports/june-2025-toronto-rent-report/
[2] https://liv.rent/blog/rent-reports/april-2025-toronto-rent-report/
[3] https://www.narcity.com/toronto/toronto-rent-report-april-2025
[4] https://delrentals.com/blog/toronto-condo-rental-market-update-april-2025/
[5] https://trreb.ca/market-data/rental-market-report/
[6] https://www.toronto.ca/community-people/community-partners/social-housing-providers/affordable-housing-operators/current-city-of-toronto-average-market-rents-and-utility-allowances/
[7] https://www.apartments.com/toronto-on/short-term/
[8] https://www.vrbo.com/vacation-rentals/condos-and-apartments/canada/ontario/toronto
[9] https://www.cozycozy.com/ca/toronto-vacation-rentals
[10] https://www.igorveric.com/toronto-rental-market-update-in-the-summer-of-2025/