Global Major Cities Guide

General information on renting, buying, and understanding housing options in Toronto.

Sections

1. Types of Housing Available in Toronto

Toronto offers a variety of housing options to suit different needs and budgets. Here are the main types:

a. Apartments

High-rise Apartments: Found throughout the city, these are typically rental units in large buildings. They may include amenities like gyms, laundry facilities, and parking.
Condominiums (Condos): Privately owned units in high-rise buildings. These are often more modern and come with amenities like pools, gyms, and concierge services. Condos can be rented or purchased.
Basement Apartments: Self-contained units located in the basements of houses. These are often more affordable but may have limited natural light.

b. Houses

Detached Houses: Standalone homes, often with a yard. These are ideal for families but are expensive to rent or buy.
Semi-Detached Houses: Homes that share one wall with a neighboring house. Slightly more affordable than detached houses.
Townhouses: Multi-level homes that share walls with other units. These are common in suburban areas and are a middle ground between apartments and detached houses.

c. Shared Housing

Room Rentals: Renting a single room in a house or apartment, often with shared kitchen and bathroom facilities. This is a popular option for students and newcomers.
Co-Living Spaces: Modern shared housing arrangements where tenants have private rooms but share communal spaces like kitchens and lounges.

d. Short-Term Rentals

Furnished Apartments: Ideal for temporary stays, these are fully furnished units available for short-term leases.
Airbnb: Popular for short-term stays, but not a long-term housing solution.

2. Average Rental Costs in Toronto (2023)

Toronto is one of the most expensive cities in Canada for housing. Rental costs vary depending on the type of accommodation, location, and amenities. Below are approximate monthly rental costs:

Bachelor/Studio Apartment: CAD 1,800–2,200
1-Bedroom Apartment: CAD 2,200–2,800
2-Bedroom Apartment: CAD 2,800–3,800
3-Bedroom Apartment: CAD 3,800–5,000+
Basement Apartment: CAD 1,200–1,800
Room in Shared Housing: CAD 700–1,200

Note: Prices are higher in downtown Toronto and more affordable in suburban areas.

3. Steps to Rent an Apartment in Toronto

Renting in Toronto involves several steps. Here’s a step-by-step guide:

Step 1: Determine Your Budget

Calculate how much you can afford to spend on rent. A general rule is to allocate no more than 30% of your monthly income to housing.

Step 2: Research Neighborhoods

Choose a neighborhood based on your lifestyle, proximity to work/school, and budget. (See Section 6 for popular neighborhoods.)

Step 3: Search for Listings

Use reliable online platforms (see Section 5) or work with a real estate agent.

Step 4: Prepare Documentation

Landlords typically require:

Proof of income (e.g., pay stubs, employment letter)
Credit report (newcomers may need to explain their lack of credit history)
References (from previous landlords or employers)
Government-issued ID

Step 5: Visit Properties

Schedule viewings to inspect the property. Check for issues like water pressure, heating, and overall condition.

Step 6: Sign the Lease

Review the lease agreement carefully. Ensure it includes details about rent, utilities, and maintenance responsibilities.
Pay the first and last month’s rent upfront (a common practice in Toronto).

Step 7: Move In

Arrange for utilities (if not included in the rent) and set up internet services.

4. Key Considerations for Newcomers

Credit History: Newcomers may not have a Canadian credit history, which can make renting challenging. Offer proof of income, a larger deposit, or references to reassure landlords.
Utilities: Check if utilities (electricity, water, heating) are included in the rent. If not, budget an additional CAD 100–200 per month.
Tenant Rights: Familiarize yourself with Ontario’s Residential Tenancies Act, which protects tenants from unfair practices (e.g., illegal rent increases or evictions).
Lease Terms: Most leases are for 12 months. Breaking a lease early may result in penalties.
Furnished vs. Unfurnished: Most rentals in Toronto are unfurnished. If you need furniture, consider second-hand stores or online marketplaces like Facebook Marketplace or Kijiji.

5. Reliable Online Platforms and Local Resources

Here are some trusted platforms and resources to find housing in Toronto:

Online Platforms

Realtor.ca: Listings for rentals and properties for sale.
PadMapper: A user-friendly platform for rental listings.
Rentals.ca: Comprehensive rental listings across Toronto.
Kijiji: A popular classifieds site for apartments and room rentals.
Condos.ca: Focused on condo rentals and sales.
Facebook Marketplace: Useful for finding room rentals and sublets.

Local Resources

Settlement Agencies: Organizations like COSTI Immigrant Services and The 519 offer housing support for newcomers.
University Housing Offices: If you’re a student, check your school’s housing office for resources and listings.
Real Estate Agents: Agents can help you find rentals, especially if you’re unfamiliar with the city.

6. Popular Neighborhoods in Toronto

Toronto’s neighborhoods vary in terms of cost, lifestyle, and amenities. Here are some popular areas:

Downtown Core

Entertainment District: Ideal for young professionals; close to nightlife and offices.
Yorkville: Upscale area with luxury condos and high-end shopping.
Distillery District: Known for its historic charm and artistic vibe.

Midtown

Yonge and Eglinton: A family-friendly area with good schools and transit access.
Davisville Village: Quiet and residential, popular with families and young professionals.

Suburban Areas

Etobicoke: More affordable housing options; good for families.
Scarborough: Diverse and multicultural, with a mix of apartments and houses.
North York: A balance of urban and suburban living, with many condos and amenities.

Trendy Neighborhoods

Queen West: Artsy and vibrant, with many shops and cafes.
Kensington Market: Eclectic and multicultural, popular with students and creatives.
The Beaches: Relaxed, family-friendly area near Lake Ontario.

Housing is the largest expense in Toronto’s cost of living. Here’s a breakdown of related costs:

Utilities: CAD 100–200/month (if not included in rent).
Internet: CAD 50–100/month.
Transportation: If you live far from work/school, budget for a monthly TTC pass (CAD 156).
Groceries: CAD 300–500/month per person.

8. Cultural Aspects of Renting or Buying in Toronto

Multicultural Environment: Toronto’s diversity means landlords and tenants often come from different cultural backgrounds. Clear communication is key.
Pet Policies: Many landlords have strict no-pet policies, so confirm this before signing a lease.
Homeownership: Buying a home in Toronto is expensive, with average home prices exceeding CAD 1 million. Many newcomers rent initially before considering homeownership.
Seasonal Demand: The rental market is busiest in the summer (May–August), so plan accordingly.

By following this guide, you’ll be well-prepared to find housing in Toronto. If you have further questions or need assistance with a specific aspect, feel free to ask!

Toronto

Housing and Accommodation