No, not as an investment property: since 2020 Toronto has only allowed short-term rentals in the host's own principal residence, capped at 180 nights a year for an entire home. Within those rules the median active Toronto listing grossed about CA$19,400 in the 12 months to June 2026 on 112 booked nights, and the median entire home about CA$25,100, according to Inside Airbnb's June 2026 snapshot.
The detail
The rules are set by Toronto Municipal Code Chapter 547. You may rent up to three bedrooms in the home you live in for an unlimited number of nights, or the whole unit for at most 180 nights per calendar year. Every operator registers with the City for a $390 annual fee, displays the registration number on every listing, and collects a Municipal Accommodation Tax on each stay. Platforms must check the number before accepting a booking, which is why unregistered listings have largely disappeared rather than going underground. A condo bought to run as a full-time Airbnb is simply not a legal product in Toronto.
The data shows the market adapting around that. Of 22,198 Toronto listings in the June 2026 Inside Airbnb file, 12,214 had at least one review in the past year, and 38% of those set a minimum stay of 28 nights or more. A short-term rental under the by-law is a stay of under 28 consecutive nights, so a large share of the city's 'Airbnb' supply is now furnished mid-term letting to relocating workers, students and insurance placements, which sits outside the 180-night cap.
For a genuine principal-residence host the numbers can still be worthwhile. A one-bedroom entire home in the active set grossed a median CA$21,700, a two-bedroom CA$29,500 and a three-bedroom CA$33,400. The top quarter of entire homes cleared CA$52,200 and the top tenth CA$86,800, though a large share of those will be mid-term lets or multi-room homes rather than 180-night entire units.
The numbers that matter
Where this stops holding
Inside Airbnb estimates bookings from reviews and caps any listing at 255 nights (70%), so it understates the busiest listings and cannot separate a 180-night entire home from a year-round mid-term let. Figures are in Canadian dollars for the 12 months to June 2026. Condominium declarations can ban short stays outright even where the City allows them, so check the building before the by-law.
Sources
- City of Toronto — short-term rental operators and hosts
- Toronto Municipal Code Chapter 547 — Licensing and Registration of Short-Term Rentals
- Inside Airbnb — Toronto data snapshot
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