Average Rent for a 2-Bedroom in Toronto

Toronto's average 2-bedroom asking rent was $2,939/month in August 2026, up 0.3% year-over-year, according to Rentals.ca's National Rent Report (published September 9, 2026). CMHC's 2025 Rental Market Report (October 2025 survey, published December 11, 2025), which averages the entire existing purpose-built rental stock rather than only new listings, put Toronto's average 2-bedroom rent at $2,034/month, up 3.5% year-over-year.

If you are budgeting for a new lease you are about to sign, the Rentals.ca asking-rent figure ($2,939) is the more realistic planning number, since it reflects what landlords are actually listing vacant 2-bedroom units for today. If you are trying to understand what the average existing Toronto tenant pays -- including many tenants who have been in place for years under Ontario's rent increase guideline -- CMHC's stock-wide figure ($2,034) is closer to that reality. The roughly $900 gap between them is one of the largest asking-rent-versus-stock-rent gaps among major Canadian cities, reflecting both Toronto's high turnover pricing and its large base of long-tenured, rent-controlled units.