Published 22 September 2026 · By Jatin Dua, Broker of Record, RE/MAX Quantum Realty
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The best condo buildings to rent in St. Lawrence Market are L Tower, Backstage on the Esplanade, Market Wharf, 25 The Esplanade and Sixty Colborne. Condo apartments leased through TRREB’s MLS® System in district C01 averaged $2,475 a month for a one-bedroom and $3,494 for a two-bedroom in Q2 2026.
Pick on transit, suite size and what the rent includes — not on the lobby.
The five at a glance
| # | Building | Address | Built | Why renters like it |
|---|---|---|---|---|
| 1 | L Tower | 8 The Esplanade | 2015 | The neighbourhood's signature amenity tower, closest to Union Station |
| 2 | Backstage on the Esplanade | 1 The Esplanade | 2015 | A boutique-sized newer tower with a rooftop pool, a block from Yonge St |
| 3 | Market Wharf | 1 Market St (also 33 Market St area) | 2013 | The market-side pick, with a variety of suite types including townhomes |
| 4 | 25 The Esplanade (The Berczy) | 25 The Esplanade | 1989 | The larger-layout older option, with a big rental pool in the heart of the neighbourhood |
| 5 | Sixty Colborne | 60 Colborne St | 2018 | The transit pick: a newer building near King station with a rooftop pool |
How I chose them: I looked at St. Lawrence Market the way a tenant should — how quickly you reach transit, what the building actually offers day to day, suite sizes, building age and condition, and how many units come up for lease so you have choice. This is my own shortlist, not a paid or third-party ranking, and every building fact below is linked to a source at the end.
What renting a condo in St. Lawrence Market costs right now
| Q2 2026, condo apartments | Avg 1-bed | Avg 2-bed | Units leased |
|---|---|---|---|
| TRREB district C01 | $2,475 | $3,494 | 4,233 |
| TRREB district C08 | $2,269 | $3,122 | 3,535 |
| City of Toronto | $2,316 | $3,154 | 15,388 |
| Whole GTA (TRREB area) | $2,273 | $3,013 | 21,251 |
Source: TRREB Rental Market Report, Q2 2026. District C01 is the TRREB reporting area that covers St. Lawrence Market; it is wider than the neighbourhood itself, so treat these as a guide rather than a quote for any one building.
Across the GTA, average condo rents were still below a year earlier in Q2 2026 — one-bedrooms down 2.3% and two-bedrooms down 1.7% — with 27,844 units listed for rent against 21,251 leased. TRREB says conditions still favour renters, which means there is usually room to negotiate on start date, parking or a longer term.
The top 5 condo buildings to rent in St. Lawrence Market
L Tower
8 The Esplanade
Completed 2015 · 58 storeys · about 591 suites · Developer: Castlepoint, Cityzen and Fernbrook Homes
Getting around: A few minutes' walk to Union and King stations.
What the building offers: Indoor lap pool; sauna; gym and yoga studio; private cinema / media room; library; 24-hour concierge.
What renters should know:
- Landmark design at Yonge & Front, next to Meridian Hall.
- Condo fees are reported to include heat, A/C and water.
- South-facing suites overlook the rail corridor and Gardiner.
Why it makes the list: The neighbourhood's signature amenity tower, closest to Union Station.
Backstage on the Esplanade
1 The Esplanade
Completed 2015 · 36 storeys · about 284 suites · Developer: Castlepoint, Cityzen and Fernbrook Homes
Getting around: A short walk to Union and King stations.
What the building offers: Rooftop infinity pool; 24-hour concierge; fitness centre and yoga studio; private cinema; guest suites; billiards / games room.
What renters should know:
- Smaller building than L Tower next door, so fewer units come up at once.
- Rooftop pool is a standout for the size of building.
- Same rail/Gardiner exposure on the south side as other Esplanade towers.
Why it makes the list: A boutique-sized newer tower with a rooftop pool, a block from Yonge St.
Market Wharf
1 Market St (also 33 Market St area)
Completed 2013 · 34 storeys · about 357 suites · Developer: Context Development
Getting around: Around a 10-minute walk to Union Station; 504 King streetcar and Front St buses nearby.
What the building offers: Concierge; gym; party room; rooftop deck; guest suites.
What renters should know:
- Directly across from St. Lawrence Market – about as close to the market as you can live.
- Heat and water are reported as included in condo fees.
- Mix of flats, two-storey townhomes and tower suites, so layouts vary a lot.
Why it makes the list: The market-side pick, with a variety of suite types including townhomes.
25 The Esplanade (The Berczy)
25 The Esplanade
Completed 1989 · 33 storeys · about 571 suites · Developer: Avro Group
Getting around: A short walk to Union and King stations.
What the building offers: Gym; party room / lounge with kitchen; games room; sauna and whirlpool; access to the SkyPark rooftop terrace (BBQs, play area).
What renters should know:
- Late-1980s building: larger, more traditional layouts than newer towers.
- Older building systems – ask about window/HVAC updates and what utilities the fees cover.
- Large unit count means steady rental turnover.
Why it makes the list: The larger-layout older option, with a big rental pool in the heart of the neighbourhood.
Sixty Colborne
60 Colborne St
Completed 2018 · 25 storeys · about 255 suites · Developer: Freed Developments (with Capital Developments and Carttera)
Getting around: A few minutes' walk to King station and the 504 King streetcar.
What the building offers: Outdoor rooftop pool; rooftop deck; gym; 24-hour concierge; guest suites.
What renters should know:
- Newer mid-size tower at King & Church, on the northern edge of the neighbourhood.
- Fees cover common elements and insurance only, so tenants usually pay heat/hydro separately.
- Closest of the five to King subway station.
Why it makes the list: The transit pick: a newer building near King station with a rooftop pool.
Want me to find you a unit in St. Lawrence Market?
Looking to rent in St. Lawrence Market?
Tell me your budget, move-in date and must-haves. I will send you what is actually available in these buildings, before it gets picked over.
I will come back to you personally, usually the same day. If it is urgent, call or text 833-330-1925.
Living in St. Lawrence Market as a renter
One of Toronto's oldest districts, redeveloped from the 1970s under Mayor David Crombie as a mixed-income neighbourhood of co-ops, rowhouses and apartments, now joined by condo towers. It is compact, walkable and food-focused, anchored by the St. Lawrence Market.
| St. Lawrence Market in brief | |
|---|---|
| Where it is | Roughly Yonge Street to Parliament Street, between King Street East / Front Street and the rail corridor, with The Esplanade running through the middle. |
| Transit | King and Union stations (Line 1) are within walking distance of the western half; the 504 King streetcar runs along King St E and the 121 bus serves Front St / The Esplanade. Union Station GO/UP Express is a short walk west. |
| Everyday life | St. Lawrence Market (South Market, plus the new North Market building opened in 2025) is the local grocery; Berczy Park, St. James Park and David Crombie Park line the area; restaurants along The Esplanade and Front St E; Meridian Hall and the St. Lawrence Centre for the Arts at Front & Yonge. |
| Official City neighbourhood | St Lawrence-East Bayfront-The Islands (Esplanade/Front St buildings); the King St E edge (e.g. 60 Colborne) falls in Downtown Yonge East |
Things renters in St. Lawrence Market should know
- The rail corridor runs along the south side of The Esplanade – south-facing low floors hear GO and VIA trains.
- A mix of older 1980s buildings with large layouts and utilities-inclusive fees and newer towers with small suites; compare total cost, not just rent.
- Much of the area's housing is co-op or non-profit, so the condo rental pool is concentrated in a handful of buildings.
Before you sign a condo lease
- Use the Ontario Standard Lease. Landlords of most private rental units, condos included, must use the province’s standard lease template for new leases.
- Deposits are capped. A landlord can ask for a rent deposit of no more than one month’s rent, and it must go toward your last month. Damage deposits are not allowed; a key or fob deposit must be refundable. See Ontario rental deposit rules.
- Check the rent-control date. The annual guideline (2.1% for 2026, 1.9% for 2027) does not apply to units first occupied as residences after 15 November 2018. Ask when the building was first occupied — in newer towers your increases are negotiable, not capped.
- Get utilities in writing. Newer towers usually meter hydro separately; many older buildings include it in the condo fee. It can be a real monthly difference.
- Read the condo rules. Tenants must follow the corporation’s declaration and rules — pets, move-in bookings, elevator deposits and short-term rental bans all live there.
The takeaway
In St. Lawrence Market, L Tower and Backstage on the Esplanade are where I would start, but the right building depends on your commute and whether you want amenities or square footage. Compare the all-in monthly cost — rent, hydro, parking, locker — not the headline rent, and remember that in Q2 2026 renters, not landlords, had the upper hand across the GTA.
Frequently asked questions
What are the best condo buildings to rent in St. Lawrence Market?
My top five for renters are L Tower, Backstage on the Esplanade, Market Wharf, 25 The Esplanade and Sixty Colborne, chosen for transit access, amenities, suite sizes, building condition and rental supply.
How much does it cost to rent a condo in St. Lawrence Market?
In Q2 2026, condo apartments leased in TRREB district C01, which covers St. Lawrence Market, averaged $2,475 a month for a one-bedroom and $3,494 for a two-bedroom. The City of Toronto averages were $2,316 and $3,154.
Which condo in St. Lawrence Market is best for transit?
L Tower at 8 The Esplanade: A few minutes' walk to Union and King stations.
Are older or newer condos better to rent in St. Lawrence Market?
Newer towers offer more amenities and modern finishes but smaller suites, separately metered hydro and no rent-control guideline if first occupied after 15 November 2018. Older buildings usually have larger layouts and often include utilities in the rent.
Is rent control in effect for condo rentals in Toronto?
Yes for units first occupied as residences on or before 15 November 2018, where increases are limited to the provincial guideline (2.1% in 2026 and 1.9% in 2027) once every 12 months. Units first occupied after that date are exempt from the guideline.
Do I pay a realtor to help me rent a condo?
On most MLS condo leases in the GTA the landlord pays the brokerage commission, but always confirm in writing before signing any agreement. I can search these buildings and review the lease with you.
Sources
- TRREB Rental Market Report, Q2 2026 — condominium apartment rents by district — accessed September 2026.
- Government of Ontario — residential rent increases and the rent increase guideline — accessed September 2026.
- L Tower — building facts — accessed September 2026.
- L Tower — building facts — accessed September 2026.
- Backstage on the Esplanade — building facts — accessed September 2026.
- Backstage on the Esplanade — building facts — accessed September 2026.
- Market Wharf — building facts — accessed September 2026.
- Market Wharf — building facts — accessed September 2026.
- 25 The Esplanade (The Berczy) — building facts — accessed September 2026.
- Sixty Colborne — building facts — accessed September 2026.
- Sixty Colborne — building facts — accessed September 2026.
- St. Lawrence Market — neighbourhood and transit facts — accessed September 2026.
- St. Lawrence Market — neighbourhood and transit facts — accessed September 2026.
Related reading
- Top Real Estate Agent in St. Lawrence Market and the Distillery District: What to Check Before You Sign
- Top 5 condos to rent in South Core
- Top 5 condos to rent in The Distillery and Canary District
- Top 5 condos to rent in Corktown and Regent Park
- Top 5 condos to rent in every Toronto neighbourhood
- How much rent can a landlord charge in Toronto?
- Renting now, buying later: a realistic timeline
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, Etobicoke. I help tenants, landlords, buyers and sellers across Toronto and the GTA. Four-plus years of active GTA transactions and over $100 million in sales volume. Rent figures here come from TRREB’s published rental report and tenancy rules from the Government of Ontario, so you can check all of it without asking me.
Reach me at connect@jatindua.com or 833-330-1925, or book a call.