Gross rental yield in Toronto and Vancouver 2024, by location

In Toronto, the gross rental yields amounted to 3.8 percent in the city center as of January 2024, whereas rental yields outside the city center were higher at 4.12 percent. Rental yield is the amount a property investor is likely to earn through renting a property. It’s calculated by dividing the total amount invested into the property by the annual rental income of the property. 

Vancouver vs Toronto

Rental yields are very important to potential investors and are an important factor they look at when deciding where to invest. City center properties generally command higher rents than those outside the center, though not in this case. Vancouver has higher rents for both two-bedroom apartment and one-bedroom apartments.

Vancouver rents increasing

Monthly rents for residential units in Vancouver have steadily risen over the past decade. The share of rental units which were unoccupied was low across all unit sizes. This bodes well for rental yields in the market in the future.