Toronto’s rent gap: $2,650 asking versus $2,160 paid in new Statistics Canada data
New quarterly data separates advertised rents from existing tenancies—and shows Thunder Bay moving against the national direction.
Toronto’s two-bedroom rental market has two very different price tags. Statistics Canada’s September 9 release puts average asking rent at $2,650 a month, versus $2,160 paid by existing renters, in the Toronto census metropolitan area during April–June 2026. These are different groups of apartments—not a measured increase on the same lease. Statistics Canada’s quarterly rent release.
A different direction in Thunder Bay
Thunder Bay’s average two-bedroom asking rent rose 6.5% from the second quarter of 2025. Across Canadian metropolitan areas combined, asking rent fell 3.6%. The contrast is a reason to examine the local market, not assume a national decline applies everywhere. Read the regional findings.
What the numbers can—and cannot—tell you
Asking rents come from rental advertisements; paid rents describe existing tenancies. Building characteristics, included services and older lease agreements can help explain the gap. The figures are experimental and subject to revision; asking-rent averages do not adjust for changes in unit quality. Definitions and limitations.
YorkNine’s take: If you are planning a move, compare actual available apartments and their inclusions. Treat these quarterly averages as context—not a September rent quote, a promised saving or a forecast.
Sources & further reading 1
Primary sources checked Sep 10, 2026. Market figures refer to the period stated in the article.