TRREB Releases 2026 Q1 Rental Market Statistics

The Greater Toronto Area (GTA) condominium apartment rental market remained well-supplied in the first quarter of 2026 compared to Q1 2025. While rental transactions remained strong from a historic perspective, the number of available rental listings continued to provide renters with substantial choice and negotiating power. Average condominium apartment rents remained below year-ago levels.

The number of condominium apartment rental transactions reported through the Toronto Regional Real Estate Board (TRREB) MLS® System in Q1 2026 amounted to 16,365 – up 10.6 per cent compared to 14,793 rental transactions reported in Q1 2025. On the supply side, 24,012 condominium apartment units were listed for rent during the first quarter of 2026, up six per cent year-over-year.

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Average condominium apartment rents remained lower than last year across all bedroom types. The average one-bedroom apartment rent was $2,246 in Q1 2026, down by 4.1 per cent compared to Q1 2025. The average two-bedroom apartment rent declined by 3.2 per cent year-over-year to $2,939, while the average threebedroom apartment rent edged down by 2.7 per cent to $3,757. Bachelor apartment rents were down by 2.3 per cent year-over-year to $1,821.

Permanent immigration into the GTA continued over the past year. Many newcomers initially choose to rent before ultimately purchasing a home. In addition, while home ownership affordability has improved markedly over the past year, so too has rental affordability. With economic uncertainty still an issue, many would-be home buyers have opted to remain in the rental market, at least in the short term.

Looking ahead, rental market conditions will continue to favour renters in the near term as additional condominium apartment and purpose-built rental supply reaches completion and enters the market.