How Young Professionals Can Live in Toronto Luxury Condos Without Breaking the Bank

Finding Rental Properties
Written By Brandon Merenick

Toronto’s rental market is expensive — there’s no getting around it. A typical 1-bedroom condo in Toronto now rents for around $2,200/month, plus utilities. For many young professionals, living alone in the city center can stretch budgets to the limit, leaving little room for enjoying everything Toronto has to offer.

Modern kitchen in a condo

Living in luxury condos are possible with several roommates.

But there’s a growing trend that’s changing the game: renting multi-bedroom luxury condos with roommates. By pooling resources, tenants can afford spacious, high-end condos in prime locations — without compromising on lifestyle or convenience.

For example, I recently saw a 3-bed, 3-bath luxury condo in Toronto’s waterfront district renting for around $3,980/month. Split between three roommates, that’s roughly $1,327 per person. The unit featured:

  • Large balcony with lake & city views

  • 9 ft ceilings and hardwood floors

  • High-end appliances and multiple bathrooms

  • Ensuite laundry

The building offered amenities like 24-hour concierge, a fitness centre, indoor lap pool, outdoor terrace with BBQs, and guest suites.

Compared to a standard 1-bedroom, sharing a luxury condo gives better value per square foot, more privacy with multiple bathrooms, and access to premium waterfront Toronto condos for rent. Young professionals can enjoy the perks of luxury living — designer finishes, spacious layouts, and high-end amenities — without paying solo for a premium unit.

Co-renting is also a smart lifestyle choice: you’re still close to downtown jobs, restaurants, and transit, but you’re saving money while living comfortably. For many young professionals, it’s the best way to experience luxury Toronto condo living on a budget.

Two women and one man sitting around a kitchen island talking to each other

Young professionals pooling their money together to take advantage of luxury living.

Conclusion

If you’re a young professional or a group of roommates looking for multi-bedroom condos in Toronto, exploring luxury waterfront options like Sugar Wharf could be your ticket to living well without breaking the bank.


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Brandon Merenick

This article was written by Brandon Merenick, a licensed Real Estate Agent and founder of Rental Realtors.

I know how overwhelming it can be to find a rental property in the competitive GTA market.

In this blog, I share insider tips to help you market yourself as an ideal renter so you can find a rental that meets your needs and elevates your lifestyle without breaking the bank.

https://www.RentalRealtors.ca
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