Midtown is a established-tier Class A submarket of Toronto with average asking rent around C$48/sqft/yr · ≈ $35.5 PSF/yr USD.
Yonge and Eglinton corridor. · Tier: established · Avg rent: C$48/sqft/yr · ≈ $35.5 PSF/yr USD
Midtown Toronto holds significant Class A inventory at material discounts to the Financial Core. Strong residential adjacency.
Insurance back-office, technology, professional services satellites.
20-40,000 sqft floor plates.
TTC Line 1 (Eglinton, Davisville), Eglinton Crosstown LRT.
Strong North Toronto residential reach.
Yonge-Eglinton Centre, Mount Pleasant Village.
Midtown is one of 6 Class A submarkets we cover in Toronto, classified as established tier with an average asking rent around C$48/sqft/yr · ≈ $35.5 PSF/yr USD. Compared with the broader Toronto Class A stock, Midtown typically attracts Insurance back-office, technology, professional services satellites and competes most directly with the city's other established submarkets on building specification, transit access, and amenitisation.
Adjacent submarkets to study alongside Midtown: Financial Core, King East & Distillery, South Core, King West / Liberty Village. The full Toronto submarket atlas is at /cities/toronto.
For an institutional Class A occupier evaluating Midtown, the highest-leverage analyses to commission next are the rent benchmark, the concession-package comparable, and the ESG performance baseline. Class A Atlas covers each as a dedicated topic page for this submarket:
Terminology specific to Toronto Class A leasing and to the established tier: Class A, Trophy asset, Effective rent, Concession package, TI allowance, Submarket tier.
Reviewed by Miriam Hollander — Lead market analyst. Last updated 2026-04-15. See our methodology and editorial standards.