TRREB Releases 2025 Q2 Rental Market Statistics

Greater Toronto Area (GTA) condominium apartment rentals became more affordable in the second quarter of 2025. Average one-bedroom and twobedroom rents trended lower on a year-over-year basis, as renters benefitted from substantial negotiating power with landlords due to a very well-supplied marketplace.

The number of condominium apartments leased through the Toronto Regional Real Estate Board (TRREB) MLS® System in Q2 2025 amounted to 20,417 – an increase of 16.6 per cent compared to Q2 2024. Similarly, the number of condominium apartments listed for rent, at 27,060, was up by 16 per cent year-over-year.

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While relatively strong population growth and less demand for ownership housing resulted in strong growth in rental transactions, the inventory of units remained very high from a historic perspective as well. Average one-bedroom rents were down by 5.1 per cent year-over-year in Q2 2025 to $2,326. Average two-bedroom rents were down by 3.5 per cent over the same period to $3,066.

Looking forward, recent trends in the GTA rental market will likely remain in place, at least for the remainder of 2025. Condominium apartment completions will result in more investor-held rental supply coming on line. At the same time, the population in the GTA will continue to grow. On net, the regional population grows due to immigration. Many newcomers initially choose to rent.