Average cost of renting a condo in Toronto approaching pre-pandemic peak

Toronto’s condominium rental market continues to tighten after a brief slowdown earlier in the pandemic with the average cost of a one-bedroom unit now approaching the record high reached in 2019.New data from the Toronto Region Real Estate Board suggests that the average monthly rent of a one-bedroom unit processed through its MLS system reached $2,145 in the first quarter of 2022, which equates to a year-over-year increase of 17.8 per cent.

The average monthly rent of a two-bedroom unit, meanwhile, was up 17.2 per cent year-over-year and now stands at $2,867.

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