Toronto, the most populous city in the country, is famous for its multicultural vibrancy, prosperous economy, and urban life. With the continued influx of newcomers to the city to study, work, and earn a better living, the demand for apartments for rent in Toronto remains high. Student, professional, or family: Whether you are a student, professional, or growing family, Toronto offers a wide range of rental options to suit different needs, lifestyles, and price points.
Types of apartments available
Toronto’s rental market is vast and diverse. In the commercial core of downtown are high-rise condos; residential low-rise walk-ups are located in the suburbs:
· Single or student bachelor / studio apartments
· 2-bedroom apartments perfect for couples and young families
· Luxury condominiums with pools, gyms and concierge services
· Basement suites and shared accommodations, especially for the budget-minded renters
Prices for the different types will vary by location, as well as based on amenities and public transportation access.
Popular neighbourhoods
Here are some of Toronto’s most desirable rental neighborhoods:
· Financial district, entertainment district: Close to work, nightlife, and transit
· Liberty village and king west: hip with new condos and a younger crowd
· The annex and Yorkville: For closeness to the University of Toronto, ease for students and academics.
· Scarborough/North York: Cheaper options with good TTC and service access
· Etobicoke and East York: Family-friendly communities of high-rises and detached homes
Rental rates & facts
What are the prices like to rent in Toronto? Mid-range rent: average 1-be d apartment for 15y the average rent for a 1-bed apartment in downtown Montreal (2010) is between $2,300 and $2,800, while units in the suburbs are likely to be $1.8k to $2.2k opposite. Prices rise with more bedrooms, better amenities, and newer buildings.
Renters must also consider utilities, parking, pet policies, and the terms of the lease. You’ll find month-to-month leases in several buildings, although some may require a commitment for a full 12 months.
Finding Apartments
· There are many sites where renters can view listings, including:
· Kijiji & Facebook marketplace
· Small business real estate and property management pros
Final Thoughts
For many renters, finding a Toronto apartment for rent is a cutthroat game of beating out fellow renters in chasing down “the one.” However, with some research, flexibility, and early planning, you can find a little slice of heaven that is right for your lifestyle and budget. Whether you prefer the excitement of the city or the tranquillity of the suburbs, Toronto’s rental market will meet all of your needs.
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