Published 30 October 2026 · By Jatin Dua, Broker of Record, RE/MAX Quantum Realty
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Based on TRREB’s Q2 2026 rent and condo sale data, the highest gross condo rental yields among areas with enough activity were E09 Bendale and Woburn (6.35%), E04 Wexford-Maryvale and Dorset Park (6.35%), Brampton (6.26%), W05 Downsview and York University Heights (6.00%) and E05 L’Amoreaux and Tam O’Shanter (5.70%). These are gross yields before costs, at district level. The order follows the yield.
How I chose these five
I calculated a gross rental yield for every TRREB district and municipality with enough condo apartment activity, using two TRREB reports for the same period: the Rental Market Report for Q2 2026 for rents and the Condo Market Report for Q2 2026 for sale prices. Both cover April to June 2026; Q2 2026 was the latest quarter on TRREB’s rental report page when I checked.
Gross yield is a simple ratio: annual average rent divided by average purchase price. It is gross, before condo fees, property tax, insurance, vacancies, repairs, mortgage interest and income tax, so the return an owner actually keeps will be lower.
- Average rent: TRREB reports rents by bedroom type, so I weighted each bedroom type’s average rent by its number of leases to get one average rent for all condo apartments leased in the area.
- Average price: TRREB’s average condo apartment sale price for the same area in Q2 2026.
- Formula: average monthly rent × 12 ÷ average sale price.
- Sample rule: at least 30 condo apartment sales and 50 condo apartment leases in Q2 2026. That left out Toronto W10 (6.84% on 34 sales but only 46 leases) and Oshawa (6.65% on 22 sales).
For comparison, the same calculation gives 4.85% for all TRREB areas and 4.72% for the City of Toronto. These are district-level averages only; any individual unit or building can be well above or below them.
1. Toronto E09 (Bendale, Woburn and Morningside)
The arithmetic
E09 had 234 condo apartment leases in Q2 2026: 14 studios at $1,716, 110 one-bedrooms at $2,134, 99 two-bedrooms at $2,633 and 11 three-bedrooms at $3,052. That works out to $553,003 a month in total rent, or an average of $2,363 per lease.
Annual rent is $2,363 × 12 = $28,359. The average condo apartment sale price was $446,555 from 70 sales, so the gross yield is $28,359 ÷ $446,555 = 6.35%.
What sits behind it
E09’s yield comes mainly from a low purchase price rather than high rents. Its rents fell in the past year, with the one-bedroom average down 5.8% from Q2 2025, but prices fell too: the district’s apartment benchmark price was $434,500 in September 2026, down 8.38% year over year.
E09 ties with E04 at 6.35% to two decimals. I put E09 first because its result rests on far more transactions, 234 leases and 70 sales against 70 and 42.
Practical notes
A sizeable two-bedroom share helps E09’s average rent: 99 of its 234 leases were two-bedrooms. If you are comparing a specific one-bedroom unit, run the numbers with the one-bedroom rent alone, which gives a lower yield of about 5.7% against the same average price.
2. Toronto E04 (Wexford-Maryvale, Dorset Park, Kennedy Park, Ionview and Clairlea-Birchmount)
The arithmetic
E04 had 70 condo apartment leases in Q2 2026: 36 one-bedrooms at $2,142, 30 two-bedrooms at $2,420 and 4 three-bedrooms at $2,850. Total monthly rent was $161,112, an average of $2,302 per lease.
Annual rent is $2,302 × 12 = $27,619. With an average condo apartment sale price of $434,745 from 42 sales, the gross yield is $27,619 ÷ $434,745 = 6.35%.
What sits behind it
E04 has one of the lowest average condo prices in Toronto, and its one-bedroom rent held steady, up 0.2% from Q2 2025. That combination is what lifts the yield.
The district’s resale market has been weaker. The apartment benchmark was $419,200 in September 2026, down 8.20% from a year earlier, and the overall district benchmark fell 8.81%.
Practical notes
E04’s sample is the smallest on this list, with 42 sales and 70 leases in the quarter. A few unusual transactions can move the result, so treat 6.35% as a district snapshot.
In September 2026 only nine condo apartments sold in E04, at a median of $360,000, which shows how thin month-to-month activity can be. Any purchase here should be checked against leases and sales in the specific building.
3. Brampton
The arithmetic
Brampton had 193 condo apartment leases in Q2 2026: 3 studios at $1,617, 93 one-bedrooms at $2,052, 87 two-bedrooms at $2,408 and 10 three-bedrooms at $2,800. Total monthly rent was $433,183, an average of $2,244 per lease.
Annual rent is $2,244 × 12 = $26,934. The average condo apartment sale price was $430,434 from 85 sales, giving a gross yield of $26,934 ÷ $430,434 = 6.26%.
What sits behind it
Brampton’s average condo price was the lowest of the five and among the lowest TRREB reported for Q2 2026. Rents were lower than in the Toronto districts too, but not by as much as prices.
Rents eased modestly: the one-bedroom average fell 2.5% and the two-bedroom 3.3% from Q2 2025. The apartment benchmark price was $407,000 in September 2026, down 11.89% year over year.
Practical notes
Brampton is the only municipality outside Toronto on this list. It is a large city, so condo prices and rents vary a lot between areas within it. In September 2026, Brampton condo apartments sold at 95% of list price after 52 days on average, so buyers had room to negotiate.
Brampton’s 193 leases in the quarter were split almost evenly between one-bedrooms and two-bedrooms. On the one-bedroom rent alone, its gross yield is about 5.7% against the same average price.
4. Toronto W05 (Downsview, York University Heights, Black Creek, Humber Summit and Humbermede)
The arithmetic
W05 had 146 condo apartment leases in Q2 2026: 5 studios at $1,698, 91 one-bedrooms at $2,171, 46 two-bedrooms at $2,663 and 4 three-bedrooms at $3,277. Total monthly rent was $341,657, an average of $2,340 per lease.
Annual rent is $2,340 × 12 = $28,081. The average condo apartment sale price was $467,695 from 46 sales, so the gross yield is $28,081 ÷ $467,695 = 6.00%.
What sits behind it
W05 is a mostly one-bedroom rental market, with 91 of its 146 leases being one-bedrooms. The one-bedroom average fell 5.0% from Q2 2025 while the two-bedroom average was nearly unchanged, down 0.6%.
Prices have fallen faster than rents. The district’s apartment benchmark was $443,000 in September 2026, down 11.89% from a year earlier.
Practical notes
W05 covers a wide area with different kinds of condo stock, so the district average blends very different buildings. Before buying, compare the specific building’s recent leases and sales with the averages here, and check the condo fee, which is not included in a gross yield.
On the one-bedroom rent alone, W05’s yield is about 5.6% against the same average price. In September 2026, 16 condo apartments sold in W05 at a median of $447,500, so there is a steady flow of resale units to compare.
5. Toronto E05 (L’Amoreaux, Tam O’Shanter-Sullivan and Steeles)
The arithmetic
E05 had 101 condo apartment leases in Q2 2026: 40 one-bedrooms at $2,142, 51 two-bedrooms at $2,660 and 10 three-bedrooms at $2,960. Total monthly rent was $250,940, an average of $2,485 per lease.
Annual rent is $2,485 × 12 = $29,815. The average condo apartment sale price was $522,900 from 60 sales, giving a gross yield of $29,815 ÷ $522,900 = 5.70%.
What sits behind it
E05 has a larger-unit rental mix than most districts: half its leases were two-bedrooms, and 10 were three-bedrooms. Larger units lift the average rent, which is why E05 makes the list despite a higher average price than the other four.
Rents softened over the year, with the one-bedroom average down 5.6% and the two-bedroom down 1.7%. The apartment benchmark was $461,500 in September 2026, down 12.52% year over year.
Practical notes
Because E05’s result leans on two- and three-bedroom leases, the yield on a one-bedroom unit is lower: the one-bedroom rent alone gives about 4.9% against the same average price. Larger units also tend to carry higher condo fees, so check the fee before relying on the gross figure.
E05 had 60 condo apartment sales in Q2 2026, which gives a reasonable base of recent sales to test any asking price against.
The five at a glance
| Area | Avg rent per lease, Q2 2026 | Avg condo sale price, Q2 2026 | Gross yield | Leases / sales |
|---|---|---|---|---|
| E09 Bendale, Woburn, Morningside | $2,363 | $446,555 | 6.35% | 234 / 70 |
| E04 Wexford-Maryvale, Dorset Park and area | $2,302 | $434,745 | 6.35% | 70 / 42 |
| Brampton | $2,244 | $430,434 | 6.26% | 193 / 85 |
| W05 Downsview, York University Heights and area | $2,340 | $467,695 | 6.00% | 146 / 46 |
| E05 L’Amoreaux, Tam O’Shanter-Sullivan, Steeles | $2,485 | $522,900 | 5.70% | 101 / 60 |
Sources: TRREB Rental Market Report and Condo Market Report, Q2 2026. Average rent is lease-weighted across bedroom types. Gross yield is before all costs.
What this means if you’re buying or selling in the GTA
The highest gross yields are where condo prices are lowest, not where rents are highest. Downtown C01’s average rent per lease, about $2,780, was higher than any area on this list, but its average condo price of $725,499 gave a gross yield of about 4.6% on the same method. Richmond Hill (5.64%), Pickering (5.62%) and W04 (5.59%) just missed this list.
A gross yield near 6% is not the same as a 6% return. The five-year mortgage rate listed in TRREB’s September 2026 Market Watch was 6.09%, which is higher than every gross yield on this list. Once you subtract condo fees, property tax, insurance and any vacancy, a financed purchase in these areas is unlikely to cover its costs from rent alone at today’s numbers.
Sample size matters too. Two of the five, E04 and W05, rest on fewer than 50 condo sales in the quarter, and a single quarter of leases can be affected by seasonal timing. I would treat these yields as a ranking of where the numbers look strongest, not as a promise of what a particular unit will earn.
That does not make these areas bad investments, but it does mean the case rests on your down payment, your holding period and your view of future prices, which no one can know. Run your own numbers on the actual unit, fee and financing. My GTA rents table and condo prices by district are a good place to start.
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Frequently asked questions
What is a good rental yield for a condo in the GTA?
Using TRREB’s Q2 2026 data, the gross yield across all TRREB areas was about 4.85% (annual average rent divided by average condo sale price), and about 4.72% in the City of Toronto. The best areas with enough activity reached about 6.35% gross. Net yield after fees, tax and insurance is lower.
How do you calculate gross rental yield?
Multiply the monthly rent by 12 and divide by the purchase price. For E09 in Q2 2026, the lease-weighted average rent was $2,363 a month, or $28,359 a year, and the average condo sale price was $446,555, so the gross yield was $28,359 ÷ $446,555 = 6.35%.
Where is the best rental yield in Toronto?
Among Toronto districts with at least 30 condo apartment sales and 50 leases in Q2 2026, E09 (Bendale, Woburn and Morningside) and E04 (Wexford-Maryvale and Dorset Park area) tied at about 6.35% gross. W10 calculated higher at 6.84%, but on only 46 leases, so I did not rank it.
Does a 6% gross yield cover a mortgage?
Often not. TRREB’s September 2026 Market Watch listed the five-year mortgage rate at 6.09%, above every gross yield on this list. A gross yield also ignores condo fees, property tax, insurance, vacancy and repairs, so a financed condo in these areas may not cover its costs from rent alone.
Is downtown Toronto good for rental yield?
Downtown rents are higher, but so are prices. Using the same Q2 2026 TRREB method, C01 (the downtown core) works out to about 4.6% gross, below the GTA-wide figure of about 4.85%. The five areas on this list, all with average condo prices under about $525,000, came out higher.
Sources
- Rental Market Report, 2026 Q2 — Toronto Regional Real Estate Board
- Condo Market Report, 2026 Q2 — Toronto Regional Real Estate Board
- Market Watch, September 2026 — Toronto Regional Real Estate Board
- What Condos and Townhouses Rent For in Toronto and the GTA — Jatin Dua
- Condo Prices by Toronto District and GTA Area — Jatin Dua
- Toronto E09 Real Estate Market — Jatin Dua
- Toronto E04 Real Estate Market — Jatin Dua
- Brampton Real Estate Market — Jatin Dua
Related reading
- Top 5 GTA Neighbourhoods Near GO Stations for Commuters
- Top 5 Toronto Neighbourhoods Where Prices Fell Most in 2026
- Top 5 GTA Areas Where Home Prices Held Up Best in 2026
- GTA market data by district
About the author — Jatin Dua, Toronto and GTA real estate broker
I am Jatin Dua, Broker of Record and co-founder of RE/MAX Quantum Realty Inc., Brokerage, Unit 101, 799 The Queensway, Toronto. I work with buyers and sellers across Toronto and the GTA and have helped more than 100 families sell. Four-plus years of active GTA transactions and over $100 million in sales volume. Every figure here comes from a published table, regulator or statute linked in the sources, so you can check all of it without asking me.
Reach me at [email protected] or 833-330-1925, or book a call.