Cost of Renting a Room in Toronto (2026 Budget Guide)

In 2026, renting a room in Toronto costs roughly $1,150 to $1,220 a month on average, according to figures compiled by the University of Toronto, while a one-bedroom apartment listed for rent typically runs about $1,900 to $2,300 or more. Downtown rooms, rooms with a private bathroom and furnished rooms usually cost more. Your real monthly cost also depends on what's included, so budget for utilities, internet and tenant insurance, not just the advertised rent.

Key takeaways

• Average room: about $1,150 to $1,220 a month (City of Toronto data and U of T's Off-Campus Housing Finder listings, compiled by U of T Student Life in spring 2026).
• Average one-bedroom: about $1,760 for existing purpose-built rentals (CMHC) versus roughly $1,940 to $2,270 for new listings and leases (U of T Housing Finder; TRREB Q2 2026).
• Asking rents have eased over the past two years, according to Rentals.ca and Urbanation, but Toronto is still one of Canada's priciest rental markets.
• Upfront, expect first month's rent plus a last month's rent deposit. Damage deposits are not allowed in Ontario.
• Sharing a larger unit, renting a whole home as a group, or living a few stops further out are the most reliable ways to pay less.

Why rent numbers don't agree

You'll see very different "average rent" figures online. That's mostly because they measure different things:

• CMHC's Rental Market Report surveys purpose-built rental buildings and reflects what sitting tenants pay, including people who moved in years ago and benefit from rent control. These averages run lower.
• Listing-based reports, like the Rentals.ca and Urbanation National Rent Report or U of T's Housing Finder, track asking rents on units available now. That's closer to what you'll pay as a new renter.
• TRREB's rental report tracks condo apartments leased through the MLS system across the GTA.

As a newcomer, student or anyone moving, use the listing-based figures for planning, and treat the CMHC numbers as a floor.

Typical monthly rents in Toronto

These are averages, not quotes. Prices vary a lot by neighbourhood, building age and season.

Notice the two-bedroom row: split two ways, a two-bedroom often costs about $1,025 to $1,350 per person, close to the price of a single room but usually with more space and a shared living room.

What's included (and what isn't)

Two listings at the same price can cost very different amounts once you add the extras. Ask about each of these before you apply:

• Utilities. Heat, hydro (electricity) and water. Room rentals in houses often include all three. Condos and apartments may include heat and water but bill hydro separately.
• Internet. Frequently included in room rentals, rarely in whole-unit rentals.
• Laundry. In-suite, shared in the building (often coin or card-operated) or none at all.
• Furniture. Furnished rooms are convenient for students and newcomers but usually cost more.
• Parking and storage. Often extra in condos.
• Tenant insurance. Many landlords ask you to carry it, and it protects your belongings and covers liability. Get quotes before you move in.
• Transit. If a cheaper room adds a long bus ride, add the cost of transit and your time to the comparison.

Upfront costs to plan for

In Ontario, a landlord can collect a rent deposit of no more than one month's rent, and it must be used for your last month. They can also ask for a refundable key deposit. Damage deposits and pet deposits are not permitted. Each year, the landlord owes you interest on the last month's rent deposit at the rent increase guideline rate, which is 2.1% for 2026. Our guide to rent deposit rules in Ontario covers the details.

So on move-in day you'll usually need:

• First month's rent
• Last month's rent deposit
• Refundable key deposit, if any
• Moving costs, basic furniture and household items
• First month of any utilities or internet in your name

Room vs one-bedroom vs shared apartment

Each option suits a different stage of life:

• A room in a shared house or apartment is the cheapest way in. You share the kitchen, often a bathroom, and the common spaces. It's ideal for students, newcomers and anyone saving hard, but your comfort depends heavily on who you live with.
• A one-bedroom or studio gives you full privacy and control, at roughly double the cost of an average room. It makes sense if you work from home a lot, keep unusual hours or simply value your own space above savings.
• Sharing a whole two- or three-bedroom unit with people you choose sits in the middle. Per person, it often costs about the same as a room, but you pick your roommates and usually sign the lease together.

One more thing to check with any room rental: if you'll share a kitchen or bathroom with the owner or the owner's close family, Ontario's Residential Tenancies Act generally doesn't apply, and you'll have fewer protections. Ask who else lives there before you sign.

How to budget for a room

A common starting point is CMHC's benchmark: housing is considered affordable when it costs less than 30% of before-tax household income. For many people in Toronto, especially students, that's out of reach for a solo apartment, which is why sharing is so common.

A simple monthly worksheet:

1. Rent (your share)
2. Utilities and internet not included in rent (your share)
3. Tenant insurance
4. Transit or commuting costs
5. Groceries and household supplies
6. A small buffer for surprises

Landlords in Ontario may ask about income, but the Ontario Human Rights Commission says income information should be considered alongside other details, such as rental history and references, not used alone as a strict cut-off.

Ways to pay less

Share with roommates

Splitting a two- or three-bedroom almost always beats renting alone on a per-person basis, and you usually get a living room. Use our guide to splitting rent fairly when rooms differ in size or one has a private bathroom.

Rent a whole place as a group

Instead of each person hunting for a single room, form a group and rent a whole house or apartment together. You choose who you live with and often get more space per dollar. On ColivEase, you can rent a whole home room by room, apply for your own room, or apply together as a team of roommates.

Live a few stops further out

Rents usually drop as you move away from the core. Living near a subway or LRT stop a few stations further out, such as along Line 1 in North York or Line 2 east or west, can cut rent while keeping a direct commute.

Ask about rent control

Units first occupied before November 15, 2018 are generally covered by Ontario's annual rent increase guideline, which helps keep renewals predictable. Many newer condos are exempt, so your rent could rise more after the first year.

Be wary of deals that look too good

A room priced far below the averages above, especially one where the "landlord" can't meet or show the place, is a classic red flag. Never pay before you've verified who you're dealing with and seen the unit.

Compare real costs before you commit

ColivEase shows neighbourhood scores and commute times on each listing, matches you with roommates on budget, habits and schedule, and runs landlord verification and AI scam checks on listings. That makes it easier to compare a cheaper room further out against a pricier one closer in.

Ready to find a room that fits your budget, or a group to share a whole place with? Start on ColivEase.