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May 2026 · Toronto
Average Rent in Toronto — May 2026
5,909 confirmed residential leases in Toronto in May 2026. Average rent $2,751/month. Mixed conditions across property types.
Avg Lease Price $2,751/mo
Median Lease $2,500/mo
Avg Asking $2,760/mo
Lease / Ask 99.7%
Leased Over Asking 11.2%
Avg DOM 23 days
Previous Months
Total Leased
5,909
all residential
Avg Lease Price
$2,751
per month
Median Lease
$2,500
mid-point
Lease / Ask
99.7%
avg ratio
Over Asking
11.2%
of all leases
Avg DOM
23
days on market
Lease Prices by Property Type
Toronto · May 2026
💰 Lease Price Summary
Average Lease $2,751/mo
Median Lease $2,500/mo
Avg Asking Rent $2,760/mo
Lowest Lease $750
Highest Lease $31,000
Lease / Ask Ratio 99.7%
📊 Market Activity
Leased over asking 11.2%
Leased at asking 62.3%
Leased under asking 26.5%
Avg Days on Market 23 days
Fast · 050Slow · 100+
⚖️ Balanced — 11.2% over vs 26.5% under asking.
💰 Lease Price Summary
Average Lease $2,661/mo
Median Lease $2,450/mo
Avg Asking Rent $2,674/mo
Lowest Lease $1,150
Highest Lease $20,000
Lease / Ask Ratio 99.5%
📊 Market Activity
Leased over asking 10.6%
Leased at asking 63.1%
Leased under asking 26.3%
Avg Days on Market 22 days
Fast · 050Slow · 100+
⚖️ Balanced — 10.6% over vs 26.3% under asking.
💰 Lease Price Summary
Average Lease $3,401/mo
Median Lease $2,950/mo
Avg Asking Rent $3,381/mo
Lowest Lease $750
Highest Lease $31,000
Lease / Ask Ratio 100.6%
📊 Market Activity
Leased over asking 14.7%
Leased at asking 56.9%
Leased under asking 28.4%
Avg Days on Market 29 days
Fast · 050Slow · 100+
⚖️ Balanced — 14.7% over vs 28.4% under asking.
💰 Lease Price Summary
Average Lease $3,207/mo
Median Lease $3,000/mo
Avg Asking Rent $3,235/mo
Lowest Lease $1,150
Highest Lease $8,800
Lease / Ask Ratio 99.1%
📊 Market Activity
Leased over asking 11.1%
Leased at asking 57.8%
Leased under asking 31.0%
Avg Days on Market 29 days
Fast · 050Slow · 100+
⚖️ Balanced — 11.1% over vs 31% under asking.
💰 Lease Price Summary
Average Lease $2,542/mo
Median Lease $2,270/mo
Avg Asking Rent $2,554/mo
Lowest Lease $1,250
Highest Lease $9,500
Lease / Ask Ratio 99.5%
📊 Market Activity
Leased over asking 12.7%
Leased at asking 63.6%
Leased under asking 23.6%
Avg Days on Market 37 days
Fast · 050Slow · 100+
⚖️ Balanced — 12.7% over vs 23.6% under asking.
Nearby Cities · May 2026
Average confirmed lease price across all residential property types
| City | Avg Lease | Median | Lease / Ask | DOM | Market |
|---|---|---|---|---|---|
| Mississauga | $2,687 | $2,580 | 99.0% | 26d | ⚖️ Balanced |
| Markham | $2,805 | $2,595 | 99.1% | 27d | ⚖️ Balanced |
| Vaughan | $2,687 | $2,400 | 99.8% | 26d | ⚖️ Balanced |
| Brampton | $2,607 | $2,650 | 98.9% | 30d | ⚖️ Balanced |
| Richmond Hill | $3,012 | $2,900 | 99.2% | 29d | ⚖️ Balanced |
| Pickering | $2,598 | $2,650 | 100.3% | 25d | ⚖️ Balanced |
| Ajax | $2,399 | $2,400 | 99.8% | 32d | ⚖️ Balanced |
| Oakville | $3,246 | $3,000 | 99.7% | 23d | ⚖️ Balanced |
Frequently Asked Questions
Toronto · May 2026
The average confirmed lease in Toronto was $2,751/month in May 2026,
based on 5,909 MLS® transactions. The median was
$2,500/month.
Condos averaged $2,661/mo, freehold averaged $3,401/mo, and townhouses averaged $3,207/mo.
Units in Toronto took an average of 23 days to lease in May 2026.
Freehold rentals averaged 29 days while condos averaged 22 days.
In May 2026, condos averaged $2,661/month while freehold rentals averaged $3,401/month —
a difference of $740/month.
Toronto averaged $2,751/month in May 2026. Markham averaged $2,805/mo. Mississauga averaged $2,687/mo. See the full May 2026 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.
