According to Rentals.ca, the average rent in Toronto was $2,902 per month in September 2023, which is $875 higher than the Canadian average. Despite the soaring numbers across the country, Toronto rent growth surprisingly slowed to a two-year low, decreasing from 8.7 per cent in 2022 to 2.3 per cent in 2023.
Currently, the average rent for a studio apartment is $2,107, $2,614 for a one-bedroom, $3,411 for a two-bedroom and $3,951 for a three-bedroom property. But what can $2,500 a month really get you in Toronto? You might be surprised. We looked at the listings on Rentals.ca, TorontoRentals.com, Zillow, and Realtor.ca to bring you a selection of properties listed for exactly $2,500 a month.
A Triplex Unit in Leslieville ($2,500 per month)
This newly renovated two-bedroom apartment in a Leslieville triplex features modern appliances and one full bathroom. Located in a low-rise neighbourhood, it’s close to Greenwood Park and Woodbine Beach as well as shops and restaurants.
A Cozy King West Condo ($2,500 per month)
This 500-square-foot condo in King West’s DNA3 building boasts a south-facing balcony, one bedroom and one bathroom. The building itself has amenities like an outdoor deck with barbecue, party room, 24-hour concierge and state-of-the-art gym.
This Beautiful Basement in West Hill ($2,500 per month)
Nestled in Scarborough’s West Hill neighbourhood, this professionally designed, two-bedroom, one bathroom basement apartment is a gem. It features an eat-in kitchen with quartz countertops, and a living/dining area with oversized windows.
An Executive Condo in the Waterfront Communities ($2,500 per month)
If you’re looking for something in Downtown Toronto that’s walking distance to the waterfront and the Financial District, this one-bedroom, one bathroom condo delivers. It has laminate floors, stainless steel appliances, granite countertops and a balcony.
This Bright Loft Apartment Near High Park ($2,500 per month)
Located near the desirable High Park area, this one-bedroom, one bathroom loft apartment has impressive high ceilings, large windows, brand new kitchen cabinetry and new appliances. Plus, it’s steps away from Keele subway station and Bloor West’s shops and restaurants.
A One-Bedroom Plus Den Near the Distillery District ($2,500 per month)
Situated within walking distance of the historic Distillery District, this apartment features one-bedroom plus den, two bathrooms and gorgeous unobstructed views. The building has an outdoor pool, gym and concierge, plus the unit comes with a storage locker.
A One-Bedroom Plus Den Near Liberty Village ($2,500 per month)
If you’re searching for a place near Liberty Village, this condo has one bedroom, a den and two bathrooms. It has an open-concept layout, a small balcony, large living room window with an impressive view, plus some utilities are included.
A One-Bedroom Imperial Village Condo ($2,500 per month)
Located in Imperial Village at St. Clair West and Avenue Road, this is a luxurious one-bedroom, one bathroom condo. The building has access to bike storage, guest suites, a sauna and the Imperial Club with its impressive lifestyle amenities.
This Downtown Apartment in The Grange ($2,500 per month)
Situated in Downtown Toronto’s Grange neighbourhood, this two-bedroom, one bathroom apartment has hardwood and ceramic flooring, a balcony, and it includes heat, water and electricity. It’s also a pet-friendly building with parks and green space within walking distance.
A Spacious 2-Bedroom Apartment Near James Gardens ($2,500 per month)
This two-bedroom, one bathroom apartment is located in a mid-rise, pet-friendly building in Etobicoke. The beautifully landscaped grounds and convenient locations near James Gardens and the Humber River make it a tranquil escape in the city, perfect for long family walks or a stroll with your dog.