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May 2025 · Toronto
Average Rent in Toronto — May 2025
5,953 confirmed residential leases in Toronto in May 2025. Average rent $2,761/month. Mixed conditions across property types.
Avg Lease Price $2,761/mo
Median Lease $2,545/mo
Avg Asking $2,780/mo
Lease / Ask 99.3%
Leased Over Asking 10.8%
Avg DOM 44 days
Total Leased
5,953
all residential
Avg Lease Price
$2,761
per month
Median Lease
$2,545
mid-point
Lease / Ask
99.3%
avg ratio
Over Asking
10.8%
of all leases
Avg DOM
44
days on market
Lease Prices by Property Type
Toronto · May 2025
💰 Lease Price Summary
Average Lease $2,761/mo
Median Lease $2,545/mo
Avg Asking Rent $2,780/mo
Lowest Lease $850
Highest Lease $18,000
Lease / Ask Ratio 99.3%
📊 Market Activity
Leased over asking 10.8%
Leased at asking 60.6%
Leased under asking 28.7%
Avg Days on Market 44 days
Fast · 050Slow · 100+
⚖️ Balanced — 10.8% over vs 28.7% under asking.
💰 Lease Price Summary
Average Lease $2,683/mo
Median Lease $2,500/mo
Avg Asking Rent $2,702/mo
Lowest Lease $1,290
Highest Lease $16,500
Lease / Ask Ratio 99.3%
📊 Market Activity
Leased over asking 9.8%
Leased at asking 61.0%
Leased under asking 29.2%
Avg Days on Market 43 days
Fast · 050Slow · 100+
⚖️ Balanced — 9.8% over vs 29.2% under asking.
💰 Lease Price Summary
Average Lease $3,336/mo
Median Lease $3,000/mo
Avg Asking Rent $3,358/mo
Lowest Lease $950
Highest Lease $18,000
Lease / Ask Ratio 99.3%
📊 Market Activity
Leased over asking 15.8%
Leased at asking 56.3%
Leased under asking 27.9%
Avg Days on Market 53 days
Fast · 050Slow · 100+
⚖️ Balanced — 15.8% over vs 27.9% under asking.
💰 Lease Price Summary
Average Lease $3,401/mo
Median Lease $3,300/mo
Avg Asking Rent $3,408/mo
Lowest Lease $1,550
Highest Lease $8,000
Lease / Ask Ratio 99.8%
📊 Market Activity
Leased over asking 11.7%
Leased at asking 57.7%
Leased under asking 30.6%
Avg Days on Market 49 days
Fast · 050Slow · 100+
⚖️ Balanced — 11.7% over vs 30.6% under asking.
💰 Lease Price Summary
Average Lease $2,602/mo
Median Lease $2,350/mo
Avg Asking Rent $2,609/mo
Lowest Lease $1,200
Highest Lease $8,900
Lease / Ask Ratio 99.7%
📊 Market Activity
Leased over asking 16.1%
Leased at asking 60.2%
Leased under asking 23.7%
Avg Days on Market 52 days
Fast · 050Slow · 100+
⚖️ Balanced — 16.1% over vs 23.7% under asking.
Nearby Cities · May 2025
Average confirmed lease price across all residential property types
| City | Avg Lease | Median | Lease / Ask | DOM | Market |
|---|---|---|---|---|---|
| Mississauga | $2,751 | $2,637 | 98.9% | 44d | ⚖️ Balanced |
| Markham | $2,930 | $2,800 | 98.9% | 43d | ⚖️ Balanced |
| Vaughan | $2,658 | $2,450 | 99.9% | 40d | ⚖️ Balanced |
| Brampton | $2,681 | $2,700 | 99.4% | 43d | ⚖️ Balanced |
| Richmond Hill | $3,013 | $2,900 | 99.0% | 46d | ⚖️ Balanced |
| Pickering | $2,607 | $2,550 | 99.6% | 43d | ⚖️ Balanced |
| Ajax | $2,550 | $2,600 | 100.1% | 44d | ⚖️ Balanced |
| Oakville | $3,086 | $2,700 | 98.8% | 44d | ⚖️ Balanced |
Frequently Asked Questions
Toronto · May 2025
The average confirmed lease in Toronto was $2,761/month in May 2025,
based on 5,953 MLS® transactions. The median was
$2,545/month.
Condos averaged $2,683/mo, freehold averaged $3,336/mo, and townhouses averaged $3,401/mo.
Units in Toronto took an average of 44 days to lease in May 2025.
Freehold rentals averaged 53 days while condos averaged 43 days.
In May 2025, condos averaged $2,683/month while freehold rentals averaged $3,336/month —
a difference of $653/month.
Toronto averaged $2,761/month in May 2025. Markham averaged $2,930/mo. Mississauga averaged $2,751/mo. See the full May 2025 Ontario lease summary →
Looking to rent in Toronto?
Browse available rentals or connect with a local agent who knows the rental market.
Data note: Based on MLS® confirmed lease transaction data held in our system for Toronto, Ontario. Not official TRREB or CREA data. For general research only — consult a licensed real estate professional before making tenancy decisions.
