Whether you’re searching for your next home or managing an investment property, understanding rental trends can help you make informed decisions. This quarter’s numbers offer important insights for both renters and landlords.

Rents are trending down

According to TRREB’s Q2 2025 Rental Market Report, average condominium apartment rents in the Greater Toronto Area (GTA) decreased year-over-year for the second consecutive quarter. The average rent for a one-bedroom unit was $2,326, down 5.1 per cent. Two-bedroom units averaged $3,066, representing a 3.5 per cent drop. This shift has created more room for negotiation and improved affordability for many renters.

More listings, more leases

Rental listings rose to more than 27,000 in Q2 2025, a 16-per-cent increase from the previous year. Leasing activity also grew, with more than 20,000 units rented, a 16.6-per-cent year-over-year increase. With more inventory on the market, both renters and landlords are seeing greater choice and flexibility.

Population growth meets new supply

The GTA continues to experience rapid population growth, especially from newcomers. Many people new to the region choose to rent before exploring homeownership, which sustains rental demand. At the same time, a wave of condominium completions is adding more investor-owned units to the market. These two forces are working together to shape a more balanced landscape.

Steady trends for the rest of 2025

TRREB expects these conditions to continue throughout the year. As more investor-held units become available and demand remains strong, renters will continue to benefit from a wider selection of options, while landlords may need to offer more competitive incentives to attract long-term tenants.

Use the data to your advantage

At TRREB, we remain focused on delivering up-to-date market data that supports smart housing choices. Whether you are considering a move or managing a rental property, keeping an eye on the numbers helps you stay one step ahead.

To read the full Q2 2025 Rental Market Report and explore additional market insights, housing data, and resources, visit trreb.ca.