Student rent guide for Toronto
Average rents near Toronto's major universities, the best student-friendly neighbourhoods, and what to check before signing a lease in Toronto.
Where Toronto students live
Each campus has its own pattern of student neighbourhoods. These are reasonable starting points. Run each through the calculator to see the current range.
University of Toronto students
The Annex is the closest student-friendly neighbourhood with a strong campus connection. Yorkville is adjacent but expensive. Kensington Market gives you walkability with a more affordable character.
TMU and OCAD students
Downtown is the obvious fit. Church-Wellesley and parts of King West sit near campus. Smaller units and bachelor apartments lease faster here than family-sized units.
York University students
North York neighbourhoods near subway access offer better value. Steeles and Finch corridors are popular. Rents below the downtown core by a significant margin.
Splitting rent in a Toronto student rental
- Bedroom size is the most common factor. If your room is 20 percent smaller than the master, paying about 20 percent less is reasonable.
- Private bathroom carries a premium. En-suite rooms usually pay 10 to 15 percent more.
- Equal split for utilities and groceries unless usage is wildly different.
- Put it in writing. A group chat or email saves arguments later.
What to check in a Toronto student lease
- Is the rent fair for the area? Run the listing through Fair Rent Canada for the Toronto neighbourhood.
- Is the lease 12 months or 8 months? Some student rentals are priced by the school year. The monthly rate may be higher but the total can be lower.
- Who is on the lease? Joint leases mean everyone is responsible. Individual leases mean you are only responsible for your room.
- What is the policy for subletting? Plans change. You want flexibility for co-op terms or summer breaks.
- What is included? Utilities, internet, laundry, parking. The headline rent often misses these.
- Rent increase rules. In Ontario, units first occupied before November 15, 2018 are rent controlled at the provincial guideline. Newer units are exempt between tenancies. A large share of new Toronto condos are exempt.
Help other Toronto students avoid overpaying
If you rent in Toronto, sharing your rent anonymously helps the next student check whether their rent is fair. Takes about a minute.
Submit my Toronto rentFair Rent Canada · Student rent guide · Toronto. Sources: CMHC Rental Market Survey, Rentals.ca market listing data, anonymous renter submissions. Results are estimates for information only. Not legal, financial, or real estate advice.