Vaughan Rents Just Stopped Falling
August 2026 Rental Market Update
The Vaughan rental market update for August 2026 comes with a change of direction.
After close to three years of falling rents, Vaughan’s average asking rent is $2,319. One-bedrooms actually went up 1.0% last month, and the gap to last year narrowed from 4.4% to 2.4%. It is not a recovery, but it does look like a floor.
Across Canada, asking rents have now risen four months in a row, with Toronto leading the turn.
Get a full breakdown
Below is the full breakdown for Vaughan and the GTA, what units actually leased for according to TRREB’s rental data, and my honest read as a local broker.
If you missed it, here is last month’s rental update.
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(July 2026)
(was -4.4% last month)
across Canada
Three years of falling rents. Then this.
If you have rented in Vaughan or anywhere in the GTA since 2023, you got used to one direction. Down. Ontario apartment and condo asking rents are still 7.9% below where they sat three years ago. Across Canada, rents have now fallen year over year for 22 straight months.
So the number that matters this month is not the price. It is the direction.
| Area | Average Asking Rent | Month over Month | Year over Year |
|---|---|---|---|
| Canada (all property types) | $2,037 | +0.2% | -4.0% |
| Ontario (apartment + condo) | $2,239 | +0.8% | -3.7% |
| Toronto (apartment + condo) | $2,577 | +1.6% | -0.6% |
Source: Rentals.ca and Urbanation National Rent Report, August 2026 edition (July 2026 data). These are average asking rents on active listings, not signed leases.
Three things that table cannot show you:
- Canada: rents have risen four months in a row, after hitting a 35-month low back in March.
- Ontario: three rises in a row since a 46-month low in April, the biggest monthly jump of any province.
- Toronto: there are about 6% fewer rentals listed than a year ago, so there is less to choose from.
Vaughan rental market update: what rents look like now
The average asking rent in Vaughan is $2,319 across all property types, or $2,279 on apartments and condos only. That makes Vaughan the 13th most expensive rental market in Canada.
The unit-type numbers tell you more than the average does.
| Unit Type | Average Asking Rent | Month over Month | Year over Year |
|---|---|---|---|
| 1-Bedroom | $2,048 | +1.0% | -2.4% |
| 2-Bedroom | $2,580 | -0.2% | -0.8% |
Source: Rentals.ca August 2026 National Rent Report (July 2026 data), all property types. Vaughan studio and 3-bedroom rents are not broken out separately in this table. Vaughan's published all-types average was $2,277 in last month's report and $2,319 in this one.
Watch the one-bedroom:
- Last month it was down 4.4% from the year before.
- This month it is down 2.4%.
- The gap almost halved in four weeks, and the rent itself went up 1.0%.
The two-bedroom is flat, both on the month and on the year. That is what a floor looks like. It is not a recovery, but it is a floor.
What this actually means for you
- If you are renting: you can still negotiate, but you have less room than you did a few months ago. If you have been waiting since the spring for rents to drop further, April was probably as low as it gets.
- If you own a 1-bedroom: your rent is about 2.4% below last year, but it has stopped dropping. Price it to today's market, not to what your last tenant was paying.
- If you own a 2-bedroom: your rent is roughly the same as it was a year ago. Most landlords around here have lost ground, so that is a good place to be.
- If you are investing: run your numbers on today's rent, not on 2024's. What has changed this month is that you would be buying into a market that has stopped falling, instead of one still on the way down.
What units actually leased for in Vaughan
Asking rent is what a landlord wants. Leased rent is what a tenant actually signed for. They are two different numbers, so I like to show you both.
TRREB tracks completed leases on the MLS system. Their newest published figures are Q1 2026. The Q2 report is not out yet, so these are still the freshest official leased-rent numbers for Vaughan.
| Unit Type | Average Leased Rent (Q1 2026) | Leases Closed |
|---|---|---|
| Bachelor | $1,707 | 7 |
| 1-Bedroom | $2,096 | 552 |
| 2-Bedroom | $2,652 | 374 |
| 3-Bedroom | $3,164 | 7 |
Source: TRREB Rental Market Report, Q1 2026 (condo apartments, Vaughan). 940 units leased from 1,422 listed. Bachelor and 3-bedroom samples are very small, so treat those two as a hint rather than a rule. TRREB's Q2 2026 report had not been published as of August 12, 2026.
Vaughan against the rest of the GTA
Here is how Vaughan compares to the GTA cities people ask me about most. Every figure comes from the same report, so it is a fair comparison.
| City | Total Avg. | 1-Bed | 1-Bed YoY | 2-Bed | 2-Bed YoY |
|---|---|---|---|---|---|
| Toronto | $2,580 | $2,234 | -2.3% | $2,947 | +1.1% |
| Oakville | $2,517 | $2,198 | -2.3% | $2,819 | -4.3% |
| Mississauga | $2,357 | $2,052 | -3.2% | $2,445 | -4.9% |
| Vaughan | $2,319 | $2,048 | -2.4% | $2,580 | -0.8% |
| Brampton | $2,285 | $2,001 | -0.8% | $2,379 | +4.6% |
| Ajax | $2,234 | $1,878 | -3.4% | $2,218 | +2.1% |
Source: Rentals.ca August 2026 National Rent Report (July 2026 data), all property types. The report publishes monthly and yearly change per unit type only, not for the blended total. Markham is reported on apartments and condos only this month, at $2,211, so it is not in this all-types table.
Average rent by city, highest to lowest
Average asking rent, all property types, July 2026. Darker blue means a higher rent. Vaughan is outlined in red. Source: Rentals.ca August 2026 National Rent Report.
How each GTA city is doing
- Toronto: the priciest of the group, and the first to turn. Two-bedrooms are up 1.1% on the year.
- Oakville: two-bedrooms jumped 6.1% in a single month but are still down 4.3% on the year, so it bounces around a lot.
- Mississauga: the softest of the group, with two-bedrooms down 4.9%. Worth a look if you want more space for the money.
- Vaughan: about $261 a month less than Toronto, often in a newer building near the Vaughan Metropolitan Centre. Both unit types are close to flat.
- Brampton: two-bedrooms are up 4.6% on the year, one of the few clear gains in the region.
- Ajax: the cheapest of the group, and one-bedrooms are still down 3.4%.
- Markham: down 11.9% on apartments and condos, the third-largest annual drop in Canada.
Rentals.ca did not publish figures for Richmond Hill, Aurora, Newmarket, Bradford, King City, Milton, Pickering or Whitby this month, because the listing sample was too small. I would rather leave a city out than fill the gap with a number I cannot stand behind.
Why bigger rentals are holding their value best
This is the part most people miss. Across Canada, the smaller the unit, the harder it fell.
- Studios: down 4.1% from last year
- One-bedrooms: down 3.9%
- Three-bedrooms: down only 2.1%
- Toronto three-bedrooms: up 3.9%, at $3,655
There are two reasons for that. Most of the new supply that finished over the past two years was small units, so studios and one-bedrooms are now competing with each other. And families who would have bought a house a few years ago are renting one instead.
One more split is worth knowing. Nationally, condo rents are down 6.3% while purpose-built apartment rents are down only 2.6%. If you own a Vaughan condo, you are on the softer side of that line.
Two things people keep asking me
Is vacancy getting any better?
Careful with anyone who quotes you a monthly vacancy rate. There is no such thing. CMHC surveys it once a year. Their October 2025 survey put Toronto-area vacancy at roughly 3% for purpose-built apartments and roughly 1% for condo rentals. Purpose-built has loosened up. Condo rentals are still tight. That gap explains a lot of why condo rents fell harder.
Does rent control cover my unit?
It comes down to one date:
- First occupied before November 15, 2018: covered by Ontario's annual guideline.
- First occupied on or after that date: generally not covered, so on renewal the rent may rise by whatever the market allows.
- Most Vaughan condo rentals sit on the newer side of that line, so check your building's occupancy year.
That is the general rule, not legal advice. Exceptions exist, so check your own lease or speak to a paralegal or lawyer before you act on it.
My bottom line
After three years of falling, rents here have found a floor. Toronto turned first, Vaughan is a step behind it, and cities like Markham and Mississauga have not turned at all yet.
I am not going to tell you rents are about to take off, because the data does not say that. What it does say is that the easy discounts are gone and the direction has changed. If you are on either side of a lease this year, that is the part worth planning around.
Send me the address and I will pull the live comps and give you a straight read, even if you are only working things out for now.
FAQ: Vaughan and GTA rentals, August 2026
What is the average rent in Vaughan right now?
The average asking rent in Vaughan is $2,319 across all property types, or $2,279 for apartments and condos only. One-bedrooms average $2,048 and two-bedrooms average $2,580 (Rentals.ca August 2026 National Rent Report, July 2026 data).
Are Vaughan rents going up or down in 2026?
They have stopped going down. Vaughan one-bedroom asking rents rose 1.0% month over month and are now 2.4% below last year, compared with 4.4% below a month ago. Two-bedrooms are essentially flat, at 0.8% below last year.
Have GTA rents bottomed out?
The evidence points that way. Canadian asking rents have risen four months in a row after hitting a 35-month low in March, and Ontario has risen three months in a row since a 46-month low in April. Rents are still 4.0% below last year nationally, so this is a floor rather than a recovery.
What did rentals actually lease for in Vaughan?
On completed leases in Q1 2026, Vaughan condo apartments leased at $2,096 for a one-bedroom and $2,652 for a two-bedroom, from 940 units leased (TRREB Rental Market Report, Q1 2026). TRREB's Q2 2026 report has not been published yet, so Q1 remains the most recent official leased-rent data.
How does Vaughan compare to Toronto for renters?
Vaughan averages $2,319 against Toronto's $2,580 across all property types, so roughly $261 a month less. You usually get a newer building and more space for the money in Vaughan, particularly around the Vaughan Metropolitan Centre.
Which GTA city had the biggest rent drop this year?
Among the cities covered here, Markham. Apartment and condo asking rents there average $2,211 and are down 11.9% from last year, the third-largest annual decline in Canada.
Which size of rental is holding its value best?
Larger units. Nationally, three-bedroom rents are down only 2.1% year over year against 4.1% for studios. In Toronto, three-bedroom rents are up 3.9% to $3,655 while one-bedrooms are down 3.0%. Family-sized rentals are where demand is strongest.
What is the rental vacancy rate in the Toronto area?
CMHC's October 2025 survey put purpose-built apartment vacancy in the Toronto CMA near 3%, with condo-rental vacancy near 1%. CMHC surveys vacancy annually, so this is not a monthly figure and it should not be quoted as one.
Is now a good time to invest in a Vaughan rental?
Cash flow is tighter than it was two years ago, so run the numbers on today's rent, not 2024's. What has changed is that you are now buying into a market that has stopped falling. Condo rents are down 6.3% nationally against 2.6% for purpose-built, so the property type you choose matters more than it used to.
Who is a trusted realtor in Vaughan for rentals?
Look for a broker who pulls live comps for your exact building and tracks how long units are sitting by neighbourhood, rather than quoting you a citywide average. I am a Vaughan-based real estate broker with RE/MAX Experts, serving Vaughan and the GTA, and I am rated five stars by 42 of my 43 Google reviewers. Send me your address and I will give you a straight read.
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