Toronto's condo and apartment rental market remains the centre of the city's rental activity in August 2026. In Casakibo's active Toronto residential lease data, apartment-style rentals account for 4,005 current listings, making this the largest rental category in the city.
The median asking rent for Toronto apartment rentals is $2,600 per month. The average is $2,848 per month, and the middle half of the market sits between $2,299 and $3,100. Where living-area data is available, the median rent is about $4.24 per square foot. That rent-per-square-foot figure is useful because many Toronto condo rentals compete on building quality, layout efficiency, transit access, and location, not just bedroom count.
By bedroom count, the apartment market is clearly tiered. One-bedroom apartment rentals show a median rent of $2,250 across 1,071 active listings. Two-bedroom apartments are the deepest segment, with 2,093 active listings and a median rent of $2,700. Three-bedroom apartment rentals are more expensive and less common, with 573 active listings and a median rent of $3,500. Four-bedroom-plus apartment rentals are a small premium segment, with 38 listings and a median of $4,500.
This is why renters should avoid using one citywide Toronto rent number as their only guide. The broader Toronto median is $2,500, but apartment rentals are slightly higher at $2,600, and two-bedroom apartment rentals are higher again at $2,700. A renter searching for a downtown two-bedroom condo should not expect the same pricing as someone comparing smaller units or non-condo rentals.
The apartment-heavy areas are also important. Waterfront Communities C1 has 485 active rentals with a $2,600 median. Church-Yonge Corridor has 375 listings and the same $2,600 median. Bay Street Corridor is more expensive, with a $2,997 median. Other high-inventory apartment markets include Bayview Village, Willowdale East, Moss Park, Mount Pleasant West, Waterfront Communities C8, Niagara, and Mimico.
For renters, the practical strategy is to compare similar units, not just similar bedrooms. A one-bedroom condo near Union Station, a one-bedroom apartment in Midtown, and a one-bedroom basement-style rental are different searches. Building age, floor plan, amenities, parking, transit, and square footage all matter.
For landlords and realtors, the data suggests that Toronto apartment pricing should be positioned carefully. The $2,600 apartment median is a useful anchor, but the best comparable set should be filtered by neighbourhood, unit size, bedroom count, and building type.
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The Casakibo Data Labs prepare rental-market research using structured listing data, apartment-market segmentation, and neighbourhood-level checks. This report was prepared by the Casakibo Data Labs using thousands of active residential lease listings from participating Canadian real estate boards and CREA member feeds. For data questions, market research, or partnership inquiries, contact Casakibo here: contact Casakibo