Finding a 1 bedroom apartment in Toronto
Toronto’s rental market offers a wide selection of 1-bedroom apartments, catering to professionals, students, and couples looking for a balance between affordability and privacy. With rental demand remaining high, new purpose-built apartment buildings are emerging with condo-style amenities, providing tenants with modern living spaces and long-term rental security.
Current Rental Prices
As of 2025, the average rent for a 1-bedroom apartment in Toronto is $2,300 – $2,900 per month, though prices fluctuate depending on location, building quality, and amenities. Downtown rentals are on the higher end, while areas outside the core offer more affordable options.
Affordability: What You Can Expect to Pay
Toronto’s 1-bedroom apartment rental prices vary significantly by neighbourhood:
- Most Affordable: Scarborough, Etobicoke, and parts of North York offer some of the lowest rents.
Example: A 1-bedroom in Scarborough can start at $1,900 – $2,300 per month, typically in older buildings or mid-rise rentals. - Mid-Range: Midtown, East York, and North York offer a mix of affordability and convenience.
Example: A 1-bedroom in Yonge & Eglinton or East York generally rents for $2,300 – $2,800 per month. - Most Expensive: Downtown Toronto, the Waterfront, and King West command the highest prices.
Example: A 1-bedroom apartment in the Financial District or King West typically costs $2,800 – $3,500 per month, especially in newer high-rise buildings with luxury amenities.
What to Expect in a 1-Bedroom Apartment
Purpose-built apartments today offer more than just basic living spaces. Many feature:
Open-concept layouts with full kitchens and in-suite laundry
On-site management and maintenance, ensuring quick service for repairs
Fitness centres, rooftop terraces, and social lounges in newer developments
Pet-friendly policies in many buildings, often with dedicated pet areas
Rental Market Trends
Toronto’s rental market remains competitive, with new purpose-built apartments designed to rival condos. Many offer premium finishes, smart home technology, and co-working spaces, making them attractive alternatives to traditional condo rentals.
Renting an Apartment vs. a Condo
While condos have historically been the higher-end rental option, new purpose-built apartments now offer similar luxury amenities without the uncertainty of renting from a private landlord.