Finding a 2 bedroom apartment in Toronto
Toronto’s rental market offers a wide selection of 2-bedroom apartments, making them a popular choice for families, professionals, and roommates looking for extra space. With demand for larger units increasing, new apartment buildings are emerging, offering modern amenities and greater rental security compared to traditional condo rentals.
Current Rental Prices
As of 2025, the average rent for a 2-bedroom apartment in Toronto ranges from $2,800 to $4,500 per month. Prices vary based on location, building quality, and included amenities. Downtown apartments tend to be the most expensive, while suburban neighbourhoods provide more budget-friendly options.
Affordability: What You Can Expect to Pay
Rental prices for 2-bedroom apartments in Toronto vary widely depending on location, building age, and available amenities.
The most budget-friendly options can be found in areas like Scarborough, Etobicoke, and North York, where monthly rents typically start between $2,500 and $3,200. These apartments are often in older high-rises or mid-rise buildings with fewer high-end features but still offer spacious layouts and access to transit.
For renters looking for a balance between affordability and convenience, Midtown, East York, and certain pockets of North York provide solid mid-range choices. In neighbourhoods like Yonge & Eglinton or East York, 2-bedroom apartments usually rent for $3,200 to $4,000 per month, often featuring updated interiors and easy access to shopping, dining, and public transportation.
At the top end of the market, areas such as Downtown Toronto, the Waterfront, and King West command premium prices. In these high-demand neighbourhoods, 2-bedroom apartments typically rent between $4,000 and $5,500 per month. These units are often found in newly built rental towers or luxury condominiums, offering top-tier amenities such as concierge services, high-end finishes, and exclusive resident facilities.
Rental Market Trends
With housing prices remaining high, more renters are looking for long-term apartment options, increasing demand for 2-bedroom units. Developers are responding by building modern, purpose-built rentals that rival condo buildings in design and amenities. Features like fitness centres, co-working spaces, and smart home technology are becoming more common.
Renting an Apartment vs. a Condo
While condos have historically been the preferred choice for renters seeking upscale living, new apartment buildings now offer many of the same benefits with added stability.
Apartments provide greater lease security, as they are managed by professional rental companies, whereas condo renters face the risk of their landlord selling the unit or moving back in. Many purpose-built apartment buildings also include amenities such as rooftop lounges, fitness centres, and pet-friendly spaces, features that were once exclusive to condo living.
Additionally, apartment buildings often have fewer extra fees, with utilities and amenities more commonly included in the base rent. In contrast, condo renters may have to pay additional charges for parking, storage, and access to shared facilities.
Key Considerations Before Renting
Most apartment leases require a 12-month commitment, although some buildings offer more flexible terms. Some rentals include utilities, while others require separate payments for hydro, water, and internet. Pet policies vary by building, with some having breed or size restrictions. Parking and storage options are available in many buildings, though they may come at an additional cost.
How to Secure a 2-Bedroom Apartment in Toronto
With competition for larger apartments increasing, it’s important to begin your search early and set up alerts for new listings. Scheduling viewings quickly and having documents like proof of income and references ready will help streamline the application process. In highly desirable areas, being prepared to sign a lease promptly can make the difference in securing a unit.
Toronto’s rental market continues to expand, offering more high-quality 2-bedroom apartments than ever before. Whether you’re looking for a luxury unit downtown or a spacious rental in a quieter neighbourhood, finding the right apartment requires planning, research, and quick decision-making.