Downtown Core Apartments for Rent & Condo Comps
Access granular residential building comps, verified lease benchmarks, and real-time inventory for 87 tracked properties across Downtown Core, Toronto.
Downtown Core Rental Market Overview
As of late September 2026, the Downtown Core submarket in Toronto—concentrated primarily around postal forward sortation area M4Y—operates within a pronounced pricing gap where landlord asking targets significantly outpace closed transaction realities. Backed by 87 tracked residential developments, the submarket recorded an average realized rent of $2,880 based on 214 closed leases over the trailing 30 days, alongside 242 active listings currently competing on the market. Active listings across the broader active supply command an average asking rent of $3,611, revealing a substantial asking-to-realized spread of $731 per month that highlights considerable room for tenant negotiation against stale or overpriced inventory.
When evaluated against the broader Toronto municipal benchmark of $2,821 per month, rental rates in the Downtown Core sit at a slight 2.09% premium ($59 higher), positioning the neighbourhood as a prime urban enclave for executive renters and downtown professionals. Transaction volume is heavily anchored by standard 1-bedroom and 1-bedroom plus den configurations, which together account for the lion's share of leasing activity across the submarket's multi-residential portfolio.
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Analyze verified lease comps and active asking rates across 87 buildings in Downtown Core.
Active Rental Inventory
Listed and Tracked by FastScreen as of September 2026Current publicly listed rental units and asking prices across Downtown Core
Closed Leases
Transactions that closed in September 2026 across Downtown Core
Downtown Core Rental Rates by Unit Layout
Realized lease pricing, square footage, and pricing spreads across layout configurations based on transactions in September 2026.
Downtown Core Tracked Buildings & Lease Comps
Compare average realized rents, price per square foot ($/SF), active availability, and leasing velocity across tracked condo buildings in Downtown Core, Toronto.
| Action | |||||
|---|---|---|---|---|---|
U Condominiums - East Tower 1080 Bay St | $3,101/mo | $4.73/SF | 27leases | 6units | Comps |
Aura at College Park 386-388 Yonge St | $2,983/mo | $4.12/SF | 16leases | 7units | Comps |
11 Wellesley on the Park 11 Wellesley St W | $2,717/mo | $5.36/SF | 13leases | 8units | Comps |
Massey Tower 197 Yonge St | $2,692/mo | $4.60/SF | 13leases | 6units | Comps |
The Liberties on Bay II 711 Bay St | $2,990/mo | $3.52/SF | 10leases | 0units | Comps |
INDX 70 Temperance St | $2,613/mo | $4.77/SF | 9leases | 14units | Comps |
Nicholas Residences 75 St Nicholas St | $2,972/mo | $4.63/SF | 9leases | 4units | Comps |
Teahouse - South Tower 501 Yonge St | $2,541/mo | $5.03/SF | 8leases | 9units | Comps |
The Royalton 801 Bay St | $2,931/mo | $3.69/SF | 8leases | 1unit | Comps |
YC Condos 7 Grenville Street / 460 Yonge Street | $2,693/mo | $4.68/SF | 7leases | 10units | Comps |
Pantages Tower 210 Victoria St | $2,471/mo | $3.34/SF | 7leases | 6units | Comps |
Residences of College Park I 763 Bay St | $2,468/mo | $4.48/SF | 7leases | 3units | Comps |
Panda 20 Edward St | $2,342/mo | $4.97/SF | 6leases | 12units | Comps |
Residences of College Park II 761 Bay St | $2,842/mo | $3.86/SF | 6leases | 5units | Comps |
The Allegro at Opera Place 909 Bay St | $3,093/mo | $3.67/SF | 6leases | 2units | Comps |
The Met 21 Carlton St | $2,647/mo | $4.37/SF | 6leases | 1unit | Comps |
Lumiere 770 Bay St | $2,830/mo | $4.41/SF | 5leases | 5units | Comps |
U Condominiums - West Tower 65 St Mary St | $3,090/mo | $5.78/SF | 5leases | 4units | Comps |
Burano Condominiums 832 Bay St | $3,310/mo | $4.23/SF | 5leases | 3units | Comps |
Horizon on Bay 633 Bay Street | $2,760/mo | $3.71/SF | 5leases | 3units | Comps |
Teahouse - North Tower 18 Maitland Terr | $3,031/mo | $5.82/SF | 5leases | 2units | Comps |
Chestnut Park 55 Centre Ave | $2,830/mo | $3.15/SF | 5leases | 2units | Comps |
The Liberties on Bay III 44 Gerrard St W | $3,026/mo | $3.84/SF | 5leases | 1unit | Comps |
One City Hall 111 Elizabeth St | $2,201/mo | $4.69/SF | 4leases | 4units | Comps |
8 Wellesley East 8 Wellesley St E | $2,725/mo | $5.08/SF | 4leases | 4units | Comps |
Five 5 St Joseph St | $3,200/mo | $4.36/SF | 4leases | 3units | Comps |
The Liberties on Bay I 717 Bay St | $3,325/mo | $3.22/SF | 4leases | 2units | Comps |
elev'n21 1121 Bay St | $2,925/mo | $4.68/SF | 4leases | 2units | Comps |
18 Yonge 18 Yonge St | $2,563/mo | $3.80/SF | 4leases | 1unit | Comps |
The Polo Club II 44 St Joseph St | $3,241/mo | $3.49/SF | 4leases | 1unit | Comps |
Yonge + Rich 25 Richmond St E/20-22 Lombard St | $2,650/mo | $4.24/SF | 3leases | 8units | Comps |
88 Scott 88 Scott St | $3,467/mo | $4.21/SF | 3leases | 5units | Comps |
Murano - South Tower 38 Grenville St | $3,300/mo | $4.22/SF | 3leases | 3units | Comps |
Karma 15 Grenville St | $2,917/mo | $4.67/SF | 3leases | 1unit | Comps |
The Polo Club I 1055 Bay St | $2,448/mo | $3.74/SF | 3leases | 1unit | Comps |
Living Shangri-La Toronto 180 University Ave | $5,800/mo | $5.04/SF | 2leases | 10units | Comps |
The Britt 955 Bay St | $3,400/mo | $5.10/SF | 2leases | 6units | Comps |
The Gloucester on Yonge 1 - 3 Gloucester St | $3,800/mo | $5.20/SF | 2leases | 5units | Comps |
38 Elm at Plaza 38 Elm St | $2,500/mo | $3.33/SF | 2leases | 3units | Comps |
The Penrose 750 Bay St | $3,575/mo | $3.34/SF | 2leases | 3units | Comps |
Spire 33 Lombard St | $6,250/mo | $10.09/SF | 2leases | 2units | Comps |
Cosmopolitan 8 Colborne Street | $2,275/mo | $5.69/SF | 2leases | 2units | Comps |
Lexington 45 Carlton St | $3,950/mo | $3.04/SF | 2leases | 1unit | Comps |
Sixty Colborne 60 Colborne St | $2,375/mo | $4.00/SF | 2leases | 1unit | Comps |
Empire Plaza 33 University Ave | $3,550/mo | $2.84/SF | 2leases | 1unit | Comps |
Opera Place I 887 Bay St | $2,475/mo | $4.31/SF | 2leases | 1unit | Comps |
Opus Pantages 220 Victoria St | $2,975/mo | $3.50/SF | 2leases | 1unit | Comps |
Biltmore Apartments 33 Maitland Street | $1,673/mo | $4.18/SF | 2leases | 1unit | Comps |
Murano - North Tower 37 Grosvenor St | $3,200/mo | $4.57/SF | 2leases | 0units | Comps |
The Gallery 25 Grenville St | $2,620/mo | $3.49/SF | 2leases | 0units | Comps |
The Wellington 30 Wellington St E | $3,950/mo | $3.12/SF | 2leases | 0units | Comps |
1001 Bay 1001 Bay St | $2,800/mo | $4.00/SF | 1lease | 8units | Comps |
St. Regis Residences Toronto 311 Bay St | $6,900/mo | $5.31/SF | 1lease | 7units | Comps |
1 King West Hotel and Residences 1 King St W | $1,900/mo | $4.75/SF | 1lease | 6units | Comps |
The Tower 736 Bay St | $2,290/mo | $4.58/SF | 1lease | 5units | Comps |
1Thousand Bay 57 St Joseph St | $3,200/mo | $6.40/SF | 1lease | 4units | Comps |
Metropole 7 King St E | $2,100/mo | $5.25/SF | 1lease | 4units | Comps |
King Plaza 92 King St E | $3,105/mo | $3.45/SF | 1lease | 3units | Comps |
Century Plaza 24 Wellesley St W | $2,550/mo | $3.92/SF | 1lease | 2units | Comps |
Eleven Residences 11 St Joseph St | $2,700/mo | $4.15/SF | 1lease | 2units | Comps |
The Cosmopolitan 25 Maitland St | $2,100/mo | $3.00/SF | 1lease | 2units | Comps |
Motion 570 Bay Street | $3,823/mo | $3.52/SF | 1lease | 1unit | Comps |
The Ellington 7 Carlton St | $2,650/mo | $4.42/SF | 1lease | 1unit | Comps |
Opera Place II 889 Bay St | $2,435/mo | $3.75/SF | 1lease | 1unit | Comps |
Residences at 555 Yonge 555 Yonge St | $2,300/mo | $3.83/SF | 1lease | 1unit | Comps |
Queen's Park Place 62 Wellesley St W | $3,500/mo | $2.95/SF | 1lease | 1unit | Comps |
Pantages Hotel Condo Suites 200 Victoria St | $2,350/mo | $3.62/SF | 1lease | 1unit | Comps |
The Britt 31 Phipps Street | $3,500/mo | $3.68/SF | 1lease | 0units | Comps |
Ïce Condominiums I 12 York St | $3,280/mo | $4.37/SF | 1lease | 0units | Comps |
Encore at The Met II 25 Carlton St | $2,100/mo | $5.45/SF | 1lease | 0units | Comps |
King Edward Private Residences 22 Leader Lane | $2,250/mo | $5.63/SF | 1lease | 0units | Comps |
Indigo 50 Lombard St | $4,000/mo | $3.33/SF | 1lease | 0units | Comps |
126 Dundas Street 126 Dundas Street | $1,600/mo | $4.00/SF | 1lease | 0units | Comps |
Ïce Condominiums II 14 York St | $3,900(ask) | $4.14 (ask) | 0leases | 2units | Comps |
Symphony Place 71 Simcoe St | $3,800(ask) | $3.17 (ask) | 0leases | 2units | Comps |
Seventy Seven Charles 77 Charles St W | $7,400(ask) | $6.15 (ask) | 0leases | 2units | Comps |
Gooderham Court 30 Church Street | $4,995(ask) | $3.33 (ask) | 0leases | 1unit | Comps |
Teahouse Condos 401 Yonge Street | — | — | 0leases | 0units | Comps |
8 Wellesley 8 Wellesley St W | — | — | 0leases | 0units | Comps |
Square - North Tower 65 Bremner Blvd | — | — | 0leases | 0units | Comps |
Square - South Tower 55 Bremner Blvd | — | — | 0leases | 0units | Comps |
Infinity Condominiums III 19 Grand Trunk Cres | — | — | 0leases | 0units | Comps |
Infinity Condominiums - I 30 Grand Trunk Cres | — | — | 0leases | 0units | Comps |
Infinity Condominiums - The Final Phase 25 Lower Simcoe St | — | — | 0leases | 0units | Comps |
Gloucester Gate 30 Gloucester Street | — | — | 0leases | 0units | Comps |
Infinity Condominiums II 51 Lower Simcoe St | — | — | 0leases | 0units | Comps |
Graphic Arts Building 73 Richmond St W | — | — | 0leases | 0units | Comps |
1080 Bay St
386-388 Yonge St
11 Wellesley St W
197 Yonge St
711 Bay St
70 Temperance St
75 St Nicholas St
501 Yonge St
801 Bay St
7 Grenville Street / 460 Yonge Street
210 Victoria St
763 Bay St
20 Edward St
761 Bay St
909 Bay St
21 Carlton St
770 Bay St
65 St Mary St
832 Bay St
633 Bay Street
18 Maitland Terr
55 Centre Ave
44 Gerrard St W
111 Elizabeth St
8 Wellesley St E
5 St Joseph St
717 Bay St
1121 Bay St
18 Yonge St
44 St Joseph St
25 Richmond St E/20-22 Lombard St
88 Scott St
38 Grenville St
15 Grenville St
1055 Bay St
180 University Ave
955 Bay St
1 - 3 Gloucester St
38 Elm St
750 Bay St
33 Lombard St
8 Colborne Street
45 Carlton St
60 Colborne St
33 University Ave
887 Bay St
220 Victoria St
33 Maitland Street
37 Grosvenor St
25 Grenville St
30 Wellington St E
1001 Bay St
311 Bay St
1 King St W
736 Bay St
57 St Joseph St
7 King St E
92 King St E
24 Wellesley St W
11 St Joseph St
25 Maitland St
570 Bay Street
7 Carlton St
889 Bay St
555 Yonge St
62 Wellesley St W
200 Victoria St
31 Phipps Street
12 York St
25 Carlton St
22 Leader Lane
50 Lombard St
126 Dundas Street
14 York St
71 Simcoe St
77 Charles St W
30 Church Street
401 Yonge Street
8 Wellesley St W
65 Bremner Blvd
55 Bremner Blvd
19 Grand Trunk Cres
30 Grand Trunk Cres
25 Lower Simcoe St
30 Gloucester Street
51 Lower Simcoe St
73 Richmond St W
Derived from verified closed lease contracts finalized during September 2026 across multi-residential buildings in Downtown Core.
Realized monthly lease price divided by interior living square footage (excluding external terraces and parking valuations).
Total executed lease agreements. In boutique buildings with fewer than 2 monthly leases, comps automatically expand to a 90-day rolling window to preserve statistical validity.
The duration from public MLS listing publication to final binding agreement. Active supply reflects current vacant or upcoming units available for rent.
Downtown Core Rental Market Dynamics & Local Yield Trends
The Financial Heart & Highest-Density Employment Epicenter of Canada
As of late September 2026, the Downtown Core submarket in Toronto—concentrated primarily around postal forward sortation area M4Y—operates within a pronounced pricing gap where landlord asking targets significantly outpace closed transaction realities. Backed by 87 tracked residential developments, the submarket recorded an average realized rent of $2,880 based on 214 closed leases over the trailing 30 days, alongside 242 active listings currently competing on the market. Active listings across the broader active supply command an average asking rent of $3,611, revealing a substantial asking-to-realized spread of $731 per month that highlights considerable room for tenant negotiation against stale or overpriced inventory.
When evaluated against the broader Toronto municipal benchmark of $2,821 per month, rental rates in the Downtown Core sit at a slight 2.09% premium ($59 higher), positioning the neighbourhood as a prime urban enclave for executive renters and downtown professionals. Transaction volume is heavily anchored by standard 1-bedroom and 1-bedroom plus den configurations, which together account for the lion's share of leasing activity across the submarket's multi-residential portfolio.
Submarket Pricing Density & Municipal Benchmark Spread
The realized average lease rate in Downtown Core is currently $2,877/month ($4.54/SF), with an average leasing velocity of 16 Days on Market. Compared to the overall Toronto municipal benchmark ($2,820/month), Downtown Core trades at a 2% price premium, reflecting local transit connectivity, tenant demand, and building amenity standards. Within the submarket, building-level lease rates range from 126 Dundas Street ($1,600/mo) to St. Regis Residences Toronto ($6,900/mo).
Month Over Month Trends
Month-over-month price adjustments in the Downtown Core reflect a minor downward contraction in average realized lease figures, shifting by -$82 or -2.77% compared to the prior 30-day window where 358 closed leases averaged $2,962. This short-term variance is driven by natural compositional shifts in transaction volume rather than systemic deflation, specifically as a higher proportion of mid-tier 1-bedroom and 1-bedroom plus den suites closed during the current 30-day tracking period compared to the preceding month's heavier concentration of premium multi-bedroom leases.
Longer Term Trends & Rental Dispersion
Longer-term performance metrics indicate robust pricing stability across the Downtown Core, supported by an all-time average lease price of $2,885 and an average price of $4.45 per square foot across 2,176 historical transactions. Mid-term tracking shows a 90-day average lease price of $2,992 across 1,176 leases, mirroring the broader historical baseline.
Market price dispersion across the submarket's 2,176 tracked transactions spans from a minimum realized rent of $1,500 to a maximum of $10,000 per month, establishing a median rent of $2,600. The interquartile range illustrates that the middle 50% of the market leases between a 25th percentile benchmark of $2,300 and a 75th percentile ceiling of $3,300, creating an overall interquartile price spread of $1,000 that captures everything from entry-level private accommodations to high-end executive tower suites.
Currently across Downtown Core's 87 tracked multi-family properties, there are 242 active rental listings with an average asking rent of $3,653/month ($4.59/SF). For closed transactions executed in September 2026, realized lease agreements averaged $2,877/month, representing real-world contract values negotiated between property owners and prospective tenants.
For Renters
Prospective renters searching in the Downtown Core should target the middle 50% benchmark range, where the majority of standard suites lease between $2,300 and $3,300 per month. Stepping up from a standard 1-bedroom unit (averaging $2,372 over 180 days) to a 2-bedroom layout (averaging $3,456) requires an average monthly financial step-up of $1,084—representing a 45.7% rent increase that unlocks an additional 270 square feet of living space. Renters seeking ultra-large family configurations should note that 3-bedroom plus units command an average realized rent of $4,423 across 995 square feet. With properties averaging just 16 days on the market, competition for well-priced inventory is swift. Prospective tenants should arrive at viewings with prepared application documents and deposit funds ready. Renters should also verify parking inclusions, as unbundled parking structures can add substantial monthly premiums depending on the building.
For Landlords
Landlords and condo investors operating in the Downtown Core must exercise pricing discipline by anchoring rental rates to verified closed lease comps rather than aspirational asking figures. With active listings averaging $3,611 against closed leases at $2,880—representing an asking-to-realized spread of $731 per month—overpriced units risk extended vacancies that stretch well beyond the submarket's 16-day average days on market. Properties priced in alignment with the middle 50% market band achieve rapid absorption, supported by an overall submarket absorption rate of 46.9%. Landlords offering unbundled parking should price reserved spaces carefully, noting that standalone parking premiums vary significantly by bedroom configuration across closed lease records.
For Realtors
Real estate professionals representing clients in the Downtown Core's M4Y postal area navigate a highly liquid, fast-moving urban rental market underpinned by 87 tracked residential buildings. With active inventory standing at 242 listings and realized leasing velocity hitting 214 closed transactions in the trailing 30 days, agents must actively manage client expectations regarding the $731 gap between average asking prices and realized lease contracts. Advising buyer-investors and tenant clients requires close attention to layout-specific spreads—such as the $1,084 step-up between 1-bedroom and 2-bedroom units. Guiding landlords to price within the established interquartile range ($2,300 to $3,300) ensures listings clear faster than the 16-day submarket average without sacrificing rental yield.
Downtown Core Rental Market & Leasing FAQs
Essential insights for tenants, property owners, and real estate professionals navigating Downtown Core, Toronto
What is the average rent for a condominium or apartment in Downtown Core, Toronto?
Downtown Core's average realized lease price is $2,880 per month ($4.54 per square foot), based on 214 recorded transactions over the trailing 30 days ending September 30, 2026. The middle 50% of the market leases between $2,300 (25th percentile) and $3,300 (75th percentile) per month, with an overall median rent of $2,600. This places Downtown Core rents at a 2.09% premium compared to the broader Toronto municipal benchmark of $2,821 per month.
How much is a 1-bedroom apartment in Downtown Core?
The average rent for a 1-bedroom apartment in Downtown Core, Toronto is $2,466 per month ($4.57 per square foot) based on 30-day data ending September 30, 2026, while 1-bedroom plus den suites average $2,712 per month ($4.44 per square foot). Most standard 1-bedroom units lease between $2,200 (25th percentile) and $2,500 (75th percentile) per month, with an average unit size of 538 square feet across trailing 180-day records.
How much is a 2-bedroom apartment in Downtown Core?
The average rent for a 2-bedroom apartment in Downtown Core, Toronto is $3,516 per month ($4.27 per square foot) based on 30-day data ending September 30, 2026, while 2-bedroom plus den suites average $3,904 per month ($4.26 per square foot). Most 2-bedroom units lease between $3,100 (25th percentile) and $3,600 (75th percentile) per month, representing an average price step-up of $1,084 and 270 additional square feet compared to standard 1-bedroom layouts.
How much is a 3-bedroom apartment in Downtown Core?
The average rent for a 3-bedroom apartment in Downtown Core, Toronto is $4,093 per month ($5.36 per square foot), based on 30-day data ending September 30, 2026. Three-bedroom and larger suites represent a specialized inventory segment across tracked multi-residential developments, offering an average of 995 square feet of living space with a middle 50% lease range spanning from $4,150 to $4,800 per month.
What are the most affordable and premium condo and apartment buildings in Downtown Core?
Within Downtown Core, St. Regis Residences Toronto commands the highest average lease rate at approximately $7,650 per month, while Biltmore Apartments offers the most accessible entry point at around $1,673 per month based on tracked private condo and apartment transactions.
How does rent in Downtown Core compare to the overall Toronto average?
Downtown Core rents average $2,880 per month, which is higher than the overall Toronto average of $2,821 per month (a spread of $59 or 2.09%). Properties in Downtown Core spend an average of 16 days on the market—leasing 2 days faster than the broader Toronto municipal benchmark of 18 days.
What are the postal code FSAs for Downtown Core?
Condo and apartment rentals in Downtown Core primarily fall within postal forward sortation areas (FSAs) such as M4Y.
How fast do rental units lease in Downtown Core (Days on Market)?
Rental listings in Downtown Core spend an average of 16 days on the market before leasing, based on 30-day tracking through September 30, 2026—leasing 2 days faster than the broader Toronto municipal benchmark of 18 days.
How should landlords price their rental listings in Downtown Core to avoid vacancy loss?
With active listings averaging $3,611 against closed leases at $2,880—an asking-to-realized spread of $731 per month—landlords should align asking prices with recent closed lease benchmarks rather than aspirational asking rates to prevent vacancy timelines from exceeding the submarket's 16-day average days on market.
How much more will a unit with a parking spot in Downtown Core rent for versus a unit without one?
Reserved parking in Downtown Core adds an estimated $305 to $669 per month to 1-bedroom and 2-bedroom rental rates, respectively, based on verified unbundled lease comps.
Are parking spaces, lockers, and utilities included in Downtown Core rents?
Standard lease agreements in Ontario require renters to set up separate accounts for suite hydro and heating/cooling power. Water service and common amenity upkeep are almost universally included in the owner's monthly maintenance fees.
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