How Much Can a Toronto Condo Earn on Airbnb? A Worked Example

Most Toronto condo owners ask the same question before they list: what will this unit actually earn? Not the best month. Not a screenshot from a peak weekend. The normal month, after every fee comes out. This guide answers that with one worked example, built only on published 2026 Toronto numbers, and walked line by line from gross revenue to what is left.

TL;DR

• AirROI’s 2026 Toronto data puts the average listing at $1,467 a month in revenue, with a $165 average nightly rate and 43.6% occupancy.
• The median listing does better: about $1,765 a month. The top 25% earn $3,559 or more, and the top 10% earn $5,951 or more.
• Our worked example — a one-bedroom condo booked 13 nights at $165 — grosses $2,145 in nightly revenue, and about $1,220 is left after Airbnb fees, cleaning, management, registration, and supplies.
• That $1,220 is before mortgage, condo fees, property tax, repairs, and income tax. Those owner costs decide if the unit truly profits.
• Toronto rules shape the ceiling: principal residence only, a 180-night cap on entire-unit rentals, $390 a year registration, 6% MAT, and 13% HST where it applies.

On this page:

• The Short Answer: Citywide Numbers
• The Example Condo and the Assumptions
• Step 1: Gross Revenue for One Month
• Step 2: What Airbnb Takes
• Step 3: Cleaning — Revenue In, Cost Out
• Step 4: MAT and HST — Money You Collect, Not Money You Keep
• Step 5: Management, Registration, and Running Costs
• The Full Month, Line by Line
• The Full Year and the 180-Night Cap
• Why Your Condo Could Earn More or Less
• Run Your Own Number in 10 Minutes
• Frequently Asked Questions

The Short Answer: Citywide Numbers

Start with the market, not with your unit. AirROI’s 2026 Toronto dataset (August 2025 to July 2026, updated September 12, 2026) covers about 11,000 active listings. The headline figures are:

• Average annual revenue: $17,609 per listing, which is $1,467 a month.
• Average daily rate (ADR): $165 a booked night.
• Average occupancy: 43.6% of available nights.
• Revenue per available night (RevPAR): $75.
• Average booking lead time: about 41 days.

The spread matters more than the average. AirROI puts the median listing at about $1,765 a month, the top 25% at $3,559 or more a month, and the top 10% at $5,951 or more a month. The bottom 25% sit around $750 a month. Same city, same platform, very different outcomes.

Why is the average month lower than $165 times 43.6% of a full calendar? Because the average is not a full-time downtown condo. The dataset mixes entire homes (69.2% of listings) with private rooms (30.5%), part-time listings, and units that are blocked for part of the year. The median nightly rate across all listings is $108, well under the $165 average, because smaller and part-time listings pull it down. Our guide to Airbnb occupancy rates in Toronto for 2026 breaks down how occupancy is counted and why the denominator matters.

So use the citywide numbers two ways. Use $1,467 to $1,765 a month as the reality check for a typical listing. Then use the worked example below to see what a full-time, entire-unit condo at the citywide rate and occupancy actually keeps.

The Example Condo and the Assumptions

Every assumption is stated up front, so you can swap in your own numbers later.

• The unit: a one-bedroom condo in downtown Toronto, rented as an entire unit. It is the owner’s principal residence, registered with the City, and the condo building allows short-term rentals.
• The month: a normal 30-day month. Not June, the peak revenue month in AirROI’s data, and not February, the lowest.
• Nightly rate: $165, the citywide average daily rate.
• Booked nights: 13 nights. That is about 43% of the calendar month, in line with the 43.6% citywide occupancy rate.
• Stays: 4 separate bookings, so 4 turnover cleans.
• Cleaning fee charged to guests: $115 per stay, the typical core Toronto one-bedroom turnover cost we priced in our guide to Airbnb cleaning fees in Toronto.
• Airbnb fee: the 15.5% host-only service fee, charged on the nightly revenue plus cleaning fees.
• Management: a professional manager at 20% of nightly revenue, inside the 18% to 25% full-service band we cover in our guide to Airbnb management fees in Toronto. If you self-manage, remove this line and count your own time instead.

Two things are not in the example, on purpose. Your mortgage, condo fees, and property tax are not in it, because they vary too much by unit to average honestly. And income tax is not in it, because it depends on your full tax picture. Read the result as what is left before those ownership costs, not as profit.

Step 1: Gross Revenue for One Month

The first line is simple math:

• Nightly revenue: 13 nights × $165 = $2,145.
• Cleaning fees collected: 4 stays × $115 = $460.
• Booking subtotal: $2,605.

That $2,145 in nightly revenue sits between AirROI’s median month ($1,765) and its top-quartile month ($3,559). That is the right zone for a full-time entire-unit condo priced at the city average. A part-time listing, a private room, or a unit far from downtown should expect less. A larger unit, a top building, or a peak month should expect more.

Note what gross revenue is not. It is not your payout, and it is not profit. Four more steps come out of it before anything is yours.

Step 2: What Airbnb Takes

Under the host-only fee structure, Airbnb takes 15.5% of the booking subtotal. The subtotal includes cleaning fees, not just nightly revenue.

• Airbnb host fee: 15.5% × $2,605 = $403.78.
• What remains of the subtotal: $2,605 − $403.78 = $2,201.22.

This is the most common surprise for new hosts. The fee is not 15.5% of the nightly price alone. It is 15.5% of everything the guest paid you, including the cleaning fee you set to cover your cleaner. That detail drives the cleaning math in the next step.

Taxes are handled separately in this example. For Airbnb bookings, Airbnb collects the accommodation taxes from the guest on top of the subtotal and remits them. Step 4 shows that math, because you still need to understand it and file for it.

Step 3: Cleaning — Revenue In, Cost Out

Cleaning looks like revenue on the booking screen. It is not. It is money passing through.

• Cleaning fees collected from guests: $460.
• Cleaning cost paid out: 4 turnovers × $115 = $460.
• Net on cleaning, before the Airbnb fee: $0.

Then the fee from Step 2 bites. Airbnb already took 15.5% of that $460, which is $71.30. So a $115 cleaning fee does not fully cover a $115 clean. After the fee, each $115 fee leaves $97.18 toward a $115 bill. To pass a $115 clean through in full, the fee would need to be about $136.

Owners have three honest choices. Charge a higher cleaning fee and risk looking expensive on short stays, because Airbnb shows total price in search. Absorb the shortfall as a cost of doing business. Or use longer minimum stays, so the fixed clean is spread over more nights. Our guide to Airbnb minimum stay settings in Toronto walks through that trade-off.

Step 4: MAT and HST — Money You Collect, Not Money You Keep

Two taxes sit on top of a Toronto stay. Neither is your income, and neither is a cost if you handle them right. They are collected from the guest and passed on.

• Municipal Accommodation Tax (MAT): 6% on stays beginning on or after August 1, 2026. A temporary 8.5% rate applied from June 1, 2025 to July 31, 2026.
• HST: 13%, charged on the subtotal including MAT, if you are registered for HST. You do not have to register if your short-term rental income is below $30,000, per the City’s guidance.

On this example’s $2,605 subtotal, the guest-side math is:

• MAT at 6%: $2,605 × 6% = $156.30.
• HST at 13% on $2,605 + $156.30 = $2,761.30: $358.97.
• Total the guest pays: $2,605 + $156.30 + $358.97 = $3,120.27.

The City publishes the same formula on a $100 stay: $100 plus $6 MAT is $106, and 13% HST on that is $13.78, for a $119.78 total. The HST portion goes to the Canada Revenue Agency, not the City.

For Airbnb bookings, Airbnb collects and remits these taxes for you. Your job is still the paperwork: Toronto operators file a MAT report every quarter, even with no rentals, and even when Airbnb handled the money. Our guides to Airbnb tax rules for Ontario condo owners and Toronto MAT late filing cover the filing side step by step.

Step 5: Management, Registration, and Running Costs

Three smaller lines come out next in this example:

• Management at 20% of nightly revenue: 20% × $2,145 = $429. Check any quote carefully. Some managers charge on nightly revenue, some on the payout, and some add cleaning or restock fees on top. The base changes the real cost.
• City registration: $390 a year, which is $32.50 a month. Small, but it is not optional, and renewals cost the same.
• Supplies and restock: this example uses $60 for the month — toilet paper, coffee, toiletries, and small replacements across 4 stays. Use your own real figure here. It is the line owners most often forget until it shows up on a card statement.

If you self-manage, the $429 stays in your pocket and the work lands on you: pricing, guest messages, cleaner coordination, MAT filing, and problem stays at any hour. That trade is fair either way, as long as you count it honestly. Our look at whether owning an Airbnb in Toronto is profitable weighs that time cost in more depth.

The Full Month, Line by Line

Here is the whole month in one place:

• Nightly revenue (13 × $165): $2,145.00
• Cleaning fees collected (4 × $115): $460.00
• Booking subtotal: $2,605.00
• Less Airbnb host fee at 15.5%: −$403.78
• Less cleaning paid out (4 × $115): −$460.00
• Less management at 20% of nightly revenue: −$429.00
• Less registration ($390 ÷ 12): −$32.50
• Less supplies and restock (example figure): −$60.00
• Left for the month: $1,219.72

Call it about $1,220. That is what a normal month at citywide rate and occupancy leaves a professionally managed one-bedroom, before mortgage, condo fees, property tax, repairs, and income tax.

Two checks on that result. First, it is below the $2,145 gross, by a lot — fees and turnovers take about 43% of the subtotal in this example. That ratio is the single most useful thing to remember from this page. Second, it is a net figure, so do not compare it with AirROI’s gross monthly revenue numbers. Compare gross with gross, and net with net.

The Full Year and the 180-Night Cap

Toronto caps entire-unit short-term rentals at 180 nights a year, and the unit must be your principal residence. That cap sets the ceiling on any annual estimate.

At 13 booked nights a month, this example unit would book 156 nights in a year. That stays under the cap, with room to spare. If every month matched this one, the year would gross $25,740 in nightly revenue and leave about $14,636 before ownership costs, using the same monthly math.

Real years do not repeat one month twelve times. AirROI’s data names June as the peak revenue month and February as the lowest, and guests book about 41 days ahead on average, so pricing decisions land weeks before the stay. Strong summer months should carry the slow winter ones. This is also why many Toronto owners fill part of the year with mid-term rentals in Toronto of 28 nights or more, which sit outside the short-term cap, instead of pushing nightly stays all year. Our guide to dynamic pricing for Toronto Airbnbs explains how nightly rates should move with that seasonality instead of staying flat.

Measured against the market, AirROI’s average listing earns $17,609 a year gross. A full-time entire-unit condo that is priced well, reviewed well, and available all year should aim to beat that average. One that is blocked half the year, or priced flat, likely will not.

Why Your Condo Could Earn More or Less

The example is a midpoint, not a promise. These are the levers that move a real unit off it:

• Location: downtown, entertainment, and hospital-adjacent buildings draw steadier demand than the city edge. Our best neighbourhoods for Airbnb in Toronto guide compares the main areas.
• Building rules: a condo board ban ends the plan, no matter what the City allows. Check the declaration and bylaws before you spend on furniture.
• Rate discipline: a flat rate leaves peak nights underpriced and slow nights empty. Even basic weekend and event pricing moves the annual total.
• Stay length: longer stays cut turnover costs per night. Shorter stays raise gross but pay a clean after almost every booking.
• Reviews and response time: listings that answer fast and review well rank better and book earlier. With a 41-day average lead time, slow replies lose bookings you never see.
• Availability: every blocked week is revenue at zero. Part-time use is a valid choice, but price the year on the nights you will actually open.

None of these levers require a bigger unit. Most are operating choices, which is why the gap between the median listing and the top 25% is so wide.

Run Your Own Number in 10 Minutes

Use the same steps with your own figures:

1. Pick a realistic nightly rate for your building and area, not the highest rate you have seen.
2. Pick booked nights for a normal month. Start near 43% of the nights you will open, then adjust for your location.
3. Multiply rate × nights for gross nightly revenue. Add cleaning fees for your expected number of stays.
4. Take off 15.5% of that subtotal for the Airbnb host fee.
5. Take off your real cleaning cost per stay, times the number of stays.
6. Take off management if you will use it, on the same base the manager quotes.
7. Take off $32.50 for registration, plus your real monthly supplies figure.
8. Then, and only then, compare what is left with your mortgage, condo fees, and property tax for the month.

If the last step is close, run a low month as well as a normal one. February, not June, is the month that tests whether the plan works.

Want a second set of eyes on the math? Our Toronto condo Airbnb income estimate page lets you request a unit-specific estimate, and our Toronto Airbnb management page explains what full service covers if you would rather hand the whole operation over.

Frequently Asked Questions

How much does the average Toronto Airbnb earn per month?
AirROI’s 2026 Toronto data puts average revenue at $1,467 a month ($17,609 a year), at a $165 average nightly rate and 43.6% occupancy. The median listing earns about $1,765 a month. These are gross revenue figures, before Airbnb fees, cleaning, management, and owner costs.

How much is left after fees in the worked example?
About $1,220 in a normal month. The example grosses $2,145 in nightly revenue plus $460 in cleaning fees, then takes off the 15.5% Airbnb host fee ($403.78), $460 in cleaning costs, $429 in management at 20% of nightly revenue, $32.50 in registration, and $60 in supplies. That is before mortgage, condo fees, property tax, repairs, and income tax.

What is the most a Toronto condo can earn on Airbnb?
Toronto caps entire-unit rentals at 180 nights a year in your principal residence, so the cap sets the ceiling. In AirROI’s 2026 data, the top 25% of Toronto listings earn $3,559 or more a month in gross revenue, and the top 10% earn $5,951 or more. Those are gross figures for the strongest listings, not typical results.

Do MAT and HST reduce what a Toronto host earns?
Not directly, when they are handled as pass-through taxes. The guest pays 6% MAT and, where the host is HST-registered, 13% HST on the subtotal including MAT, on top of the booking price. For Airbnb bookings, Airbnb collects and remits these taxes, but the host must still file a Toronto MAT report every quarter.

Is a Toronto condo Airbnb worth it compared with a long-term tenant?
It depends on the net, not the gross. A managed short-term unit in this example leaves about $1,220 in a normal month before ownership costs, with more work and more variance than a lease. A long-term tenancy pays a set monthly rent with far less turnover. Compare both on a full year, including slow months, the 180-night cap, and your own time, before deciding.

Can I run the numbers for my own condo?
Yes. Use your realistic nightly rate, booked nights near 43% of the nights you open, cleaning fees in and cleaning costs out, 15.5% for the Airbnb host fee, your manager’s percentage if you use one, and $32.50 a month for registration. Then compare what is left with your mortgage, condo fees, and property tax.