The average one-bedroom condo apartment lease in the City of Toronto was $2,316 a month in Q2 2026, according to TRREB’s rental report. This is a signed-lease average for April through June.

Information checked November 11, 2026.

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Toronto versus nearby areas

For the same quarter and unit type, TRREB reported $2,273 across its full reporting area and $2,214 in Markham. The Toronto average was $43 above the full-area average and $102 above Markham. These are condo apartment leases reported through TRREB’s MLS system; purpose-built rentals and asking rents are different data sets.

The Q2 2026 report was the latest quarter shown in TRREB’s rental report archive when checked on November 11, 2026.

Build your own building comparison

Search recent signed leases in the same building or nearby comparable buildings. Compare true one-bedrooms and one-bedroom-plus-den units separately, along with parking, utilities, furnishings, exposure and condition. A citywide average can hide the difference between a subway-adjacent suite and an older unit farther from frequent transit.

Use total monthly cost to set an offer

For example, $2,300 rent plus $150 parking and $60 electricity would cost $2,510 per month before tenant insurance. Compare it with a $2,450 lease with parking included on the same terms. Ask which utilities and amenities are included and check current availability before making a decision.

Compare the effective rent from three actual leases

Suppose three similar Toronto one-bedroom condos have recently leased: one has parking included, one has separately billed parking and utilities, and one has a den and furnishings. Make a simple table showing the lease amount, what is included, and the monthly amount the renter actually expects to pay. Keep the signed date and building with each example. A citywide number is a starting point for this work, not the price of a particular unit.

If a property is attractive because of the subway, walk from the entrance to the station you actually use. Then compare the extra monthly cost with what it would save in time or parking. Work with current availability and recent leases, not just the report average.

A practical decision checklist

Use the same rental type and area

Compare condo apartment leases of the same bedroom type. Keep City of Toronto, Markham and wider TRREB totals separate. Keep the estimate and the confirmed answer in separate columns. An estimate helps you set a range; a confirmed answer gives you something you can use to make the next commitment.

Purpose-built rentals or rooms are different data sets. Use the report for context and matched leases for pricing. Give yourself time to get an updated answer before accepting a deadline or giving up another choice.

Separate signed leases from current asking rents

Ask for recent completed leases and current listings. Record the dates, lease terms and what is included. If you cannot confirm it in time, check the alternatives while they are still available.

An asking price may not reflect the final monthly agreement. Compare nearby substitutes before making an offer. Review this before making the commitment it affects. When someone else has to supply a document or complete a check, ask how long that work normally takes and allow for a delay.

Adjust for parking, utilities and furnishings

List each extra or included item separately. Estimate out-of-pocket monthly cost for your actual needs. Put the source and the date next to the result. This makes it possible to tell whether a later change came from new evidence or from a change in your own assumptions.

A lower stated rent can cost more after extras. Use a side-by-side total rather than comparing base rent only. Write down the decision you can make now and the one that still needs an answer.

Check usable layout and station route

Distinguish one bedroom from one bedroom plus den. Check space, light, noise and the route you will travel. Check the outcome under a modest change before you decide how much room to leave.

Two similarly priced suites can work differently for a daily routine. Use the subway condo guide for address-level route checks. Identify which part of your plan depends on this information. It is easier to decide what to verify first when you know whether it affects the price, the timetable, or your ability to proceed.

Read the lease and building information

Check inclusions, dates and use rules in the written terms. Ask about move bookings, parking rights and any applicable restrictions. Keep the item on a shared list if more than one person is involved. Record who is responsible for getting the answer and what evidence will count as complete.

An amenity mentioned in advertising may require additional arrangements. Confirm what you can use and what you will pay before signing. When the answer changes, update any cost or deadline that depended on it.

Use the comparison for a landlord budget too

For an investment, use expected signed rent rather than best-case asking rent. Subtract fees, taxes, insurance, vacancy and financing. If the numbers do not line up, confirm the reason before relying on the cheaper or easier option.

A higher rent does not guarantee positive cash flow. Use the rental condo cash-flow guide to stress the estimate. If you are comparing two options, use the same dates, scope and units for both. Where they differ, show that difference on its own line so you can see how much it matters.

Follow-up questions

Should I offer the city’s average rent?

No single average determines the right rent for an address. Check three suitable signed leases and current choices with the same size, parking and utilities. Adjust for the actual condition and lease terms.

How often should I refresh the comparison?

Refresh before applying or making an offer, especially if available units or lease terms changed. Use the latest market period for context and the most recent comparable signed leases for the property. Label the time period on any numbers you save.

Compare actual monthly outlay and the commute for the unit you would rent. Keep a second option in case the terms or availability change.