Toronto
Ontario
Statistics Canada geography code 3520005 · census subdivision
MARKET SCORE
Model CS-MI-1.0 · calculated 2026-09-30
Market snapshot
Average rent
$2,046
CMHC reports this figure for the census metropolitan area, which is wider than the city this market is defined by. Population here is city-level; rent and vacancy are metro-level. CMHC reliability code "a".
Source: Canada Mortgage and Housing Corporation
Confidence: high
Rental vacancy rate
3%
CMHC reports this figure for the census metropolitan area, which is wider than the city this market is defined by. Population here is city-level; rent and vacancy are metro-level. CMHC reliability code "a".
Source: Canada Mortgage and Housing Corporation
Confidence: high
Population trend
+9.4% 2013–2022 · CalculatedSource: Table 17-10-0142-01 — Population estimates, July 1, by census subdivision (vector 1138981261) · published 2023-01-11
What drives this market?
These weightings are an interpretation of the local economy, not a measurement. They are shown to explain what appears to support rental demand here — treat them differently from the sourced statistics above.
- Other26% of local drivers
Canada's financial centre: the head offices of the five largest banks, the Toronto Stock Exchange and the bulk of the insurance sector. Recorded as 'other' because the driver taxonomy has no financial services category, not because the sector is marginal - it is the single largest one.
- Technology16% of local drivers
A technology sector that has grown faster than any other large North American market over the past decade, concentrated downtown and in the Waterloo corridor.
- Health Care14% of local drivers
University Health Network, Sinai Health, SickKids and Unity Health form the largest hospital research complex in the country.
- Education12% of local drivers
The University of Toronto, Toronto Metropolitan University and York University enrol well over 200,000 students between them.
- Government12% of local drivers
Provincial capital, plus municipal administration for the largest city in Canada.
- Construction10% of local drivers
Sustained high-rise residential construction; Toronto has led North American crane counts for years.
- Transportation6% of local drivers
Toronto Pearson is the busiest airport in Canada and the region is the country’s main distribution hub.
- Manufacturing4% of local drivers
A diminished but still present manufacturing base, mostly in the surrounding municipalities rather than the city itself.
Rental market
Average rent
$2,046
CMHC reports this figure for the census metropolitan area, which is wider than the city this market is defined by. Population here is city-level; rent and vacancy are metro-level. CMHC reliability code "a".
Vacancy rate
3%
CMHC reports this figure for the census metropolitan area, which is wider than the city this market is defined by. Population here is city-level; rent and vacancy are metro-level. CMHC reliability code "a".
All data for this market
| Metric | Period | Value | Type | Confidence | Source |
|---|---|---|---|---|---|
| average rent | — | $2,046 | observed | high | Canada Mortgage and Housing Corporation |
| population | 2022 | 3,025,647 | observed | high | Statistics Canada |
| population | 2021 | 2,955,861 | observed | high | Statistics Canada |
| population | 2020 | 2,984,055 | observed | high | Statistics Canada |
| population | 2019 | 2,963,229 | observed | high | Statistics Canada |
| population | 2018 | 2,917,916 | observed | high | Statistics Canada |
| population | 2017 | 2,862,662 | observed | high | Statistics Canada |
| population | 2016 | 2,819,399 | observed | high | Statistics Canada |
| population | 2015 | 2,798,436 | observed | high | Statistics Canada |
| population | 2014 | 2,789,535 | observed | high | Statistics Canada |
| population | 2013 | 2,764,897 | observed | high | Statistics Canada |
| rent change pct | — | 3.4% | observed | high | Canada Mortgage and Housing Corporation |
| unemployment rate | 2024 | 8% | observed | high | Statistics Canada |
| unemployment rate | 2023 | 6.3% | observed | high | Statistics Canada |
| unemployment rate | 2022 | 6.4% | observed | high | Statistics Canada |
| unemployment rate | 2021 | 9.3% | observed | high | Statistics Canada |
| unemployment rate | 2020 | 11% | observed | high | Statistics Canada |
| unemployment rate | 2019 | 5.9% | observed | high | Statistics Canada |
| unemployment rate | 2018 | 6% | observed | high | Statistics Canada |
| unemployment rate | 2017 | 6.6% | observed | high | Statistics Canada |
| vacancy rate | — | 3% | observed | high | Canada Mortgage and Housing Corporation |
Rows showing Data unavailable are recorded deliberately, with the reason, rather than omitted — so you can tell the difference between a figure that is zero and one we simply do not have.