Average Rent for a 3-Bedroom in Toronto
Larger units are the one part of Toronto's rental market still seeing clear price growth.
Last updated: October 2026
Quick answer
Toronto's average 3-bedroom asking rent was $3,642/month in August 2026, up 3.5% year-over-year -- the largest annual increase of any bedroom size in Toronto -- according to Rentals.ca's National Rent Report (published September 9, 2026). CMHC does not publish a separate stock-wide 3-bedroom figure for Toronto in its narrative Rental Market Report, so no comparable stock-based number is available for this unit size.
Why 3-bedroom rents are moving differently than the overall market
Toronto's overall average asking rent (apartments and condos, all sizes combined) was down about 1.4% year-over-year as of August 2026, largely driven by an oversupply of smaller condo units, particularly studios and 1-bedrooms, reaching the rental market. Larger units -- 2-bedroom and especially 3-bedroom -- have not seen the same supply increase, since most new condo construction in Toronto skews toward smaller unit sizes. That relative scarcity of family-sized rentals is the most likely reason 3-bedroom rents are still climbing while the citywide average falls.
Frequently Asked Questions
What is the average rent for a 3-bedroom in Toronto?
About $3,642/month as of August 2026, according to Rentals.ca's National Rent Report -- up 3.5% from a year earlier, the fastest-growing bedroom size in the city.
Why is 3-bedroom rent rising in Toronto while overall rent is falling?
Toronto's overall rent decline is driven mainly by an oversupply of smaller condo units. Larger family-sized units have not seen the same supply growth, so demand continues to outpace availability for 3-bedroom rentals even as the citywide average softens.
Sources
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