Condos for Rent in Malvern, Scarborough, ON

Name: HOMEH Market Pulse — Malvern, Scarborough closed sales and leases
Creator: HOMEH
License: https://homeh.com/terms-of-use

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Neighbourhood in Scarborough

Malvern

family-friendly diverse community-focused

Malvern is a diverse neighbourhood in Scarborough. It offers a mix of residential options and community amenities.

Median home price: $567,000 Median rent price: $2,300 60.4% of residents are immigrants

Day to dayLivability

5.6

Schools near listings

out of 10 · averaged over 2,589 past and present listings

Fraser Institute ratings within 2 km of each listing, closer schools weighted more

Each score is an average over this area's own listings and is shown only where at least 5 of them carry one. Scores are reported by listing agents, not measured by HOMEH.

What it costsAffordability

Median asking price

$567,000

5% below Scarborough 21% below Ontario

In Malvern

$567,000

In Scarborough

$599,900

In Ontario

$717,000

Median monthly rent

$2,300/mo

5% above Scarborough 8% below Ontario

In Malvern

$2,300

In Scarborough

$2,199

In Ontario

$2,500

$340

Per square foot

≈ 20.5 years

Of rent to match the purchase price

On the marketMarket snapshot

For sale

129

Median $567,000

Condos 94 · Houses 35

For rent

Median $2,300

Condos 34 · Houses 28

Recently sold

Recently leased

Market data as of 2026-10-10. Sold and leased figures are neighbourhood medians over the last 12 months, published only where at least 5 homes closed — never a single sale.

The honest readPros & cons

What people love

Affordable housing compared to city median
Strong community with diverse population
Good access to schools and parks
Family-friendly environment

Keep in mind

Higher unemployment rate at 16.7%
Limited transit options in the area

The feel of the placeLifestyle

Daily life in Malvern is community-oriented, with many families and amenities nearby. Residents enjoy a mix of urban and suburban living.

Great for first-time buyers families investors

Within the boundaryWhat's nearby

The boundary

8.9 km²

Every count and every census figure on this page was measured inside this line — not within a circle drawn around a centre point.

Parks

Playgrounds

Grocery stores

Restaurants

Cafés

Gyms

Libraries

Pharmacies

Counted across all 8.9 km² of Malvern. From OpenStreetMap, as of 2026-10-12.

The schoolsWhich schools, and how they rate

5.4/10

Average rating of the 14 rated schools in this area

Elementary

Secondary

Burrows Hall Junior Public School
Public · Grades JK–6 · Toronto DSB
8.5/107.7 over 5 yrs
175th of 3,045 Ontario elementary schools
265 students · EQAO 2024-2025
St Gabriel Lalemant Catholic School
Catholic · Grades JK–8 · Toronto CDSB
7.1/10
808th of 3,045 Ontario elementary schools
130 students · EQAO 2024-2025
Sacred Heart Catholic School
Catholic · Grades JK–8 · Toronto CDSB
6.9/106.3 over 5 yrs
963rd of 3,045 Ontario elementary schools
230 students · EQAO 2024-2025
Emily Carr Public School
Public · Grades JK–8 · Toronto DSB
6.8/10
1,026th of 3,045 Ontario elementary schools
265 students · EQAO 2024-2025
Tom Longboat Junior Public School
Public · Grades JK–6 · Toronto DSB
6.8/106.4 over 5 yrs
1,026th of 3,045 Ontario elementary schools
240 students · EQAO 2024-2025
Mary Shadd Public School
Public · Grades JK–8 · Toronto DSB
5.9/106.2 over 5 yrs
1,664th of 3,045 Ontario elementary schools
365 students · EQAO 2024-2025

Ontario Ministry of Education school registry; ratings from the Fraser Institute report card. These are the schools that stand inside Malvern, not a catchment — most Ontario boards do not publish attendance boundaries, and we will not draw a line we cannot source. Confirm enrolment with the school board before you buy.

The peopleWho lives here

43,467

Population (2021)

8.8 km²

Area

4,916

People per km²

39.2

Median age

$90,025

Median income

72%

Own their home

3.3

People per household

13,635

Households

Every age

Children (under 15)15.5%
Working age (15–64)68.2%
Seniors (65+)16.3%

What is built here

Detached houses25.4%
Semi-detached9.4%
Townhouses26.3%
Duplexes9%
Low-rise apartments4.8%
High-rise apartments24.5%
Other attached homes0.6%

Own or rent

72%Owners

29%Renters

Across 13,635 households

When it was built

Mostly 1961–1980

1960 or earlier5%
1961–198040%
1981–199027%
1991–200014%
2001–20056%
2006–20103%
2011–20152%
2016–20213%

Share of occupied homes, by the era they were built in. Bars are drawn against the busiest era, not against each other, because the eras are not the same length. The eight shares are unlikely to total exactly 100: Statistics Canada rounds each era's count to the nearest 5 before publishing it, so we print what the census reports rather than adjusting a figure to make the column add up.

60.4%
Born outside Canada: 25.3%
Hold a degree or higher: 50%
Employment rate: 23.9%
Commute by transit: 71.4%
Commute by car: 1.9
Children per family: $81,680
Median income after tax: $99,899
Average household income: 10.9%
Living on a low income: $1,320/mo
Renters pay, per month: $1,685/mo
Owners pay, per month: $674,136
Median home value at census: 24.7%
Renters spending 30%+ of income on housing: 26.8%
Owners spending 30%+ of income on housing

Statistics Canada, Census of Population 2021. Added up from 61 census areas inside the boundary. Medians and rates are a population-weighted average of dissemination-area figures.

Sources: HOMEH listings, Statistics Canada, Census of Population 2021, OpenStreetMap, HOMEH school registry

HOMEH Market Pulse Condo apartments only Through September 2026 Moderate sales history

What condos in Malvern actually rent for

At least 83 condos were leased in Malvern over the 12 months to September 2026. Half leased above $2,307 and half below, 3.8% lower than the 12 months before. A typical condo found its tenant in 23 days — 3 days quicker than a year ago.

9 of the last 12 months had at least 5 closed condos sales in Malvern. Quieter months are left out rather than shown as a median over a handful of homes, so the totals here are a floor.

Median rent: $2,307; -3.8% year over year
Days to lease: 23; 3 days quicker
Leases closed: 83; last 12 months
Rent per square foot: $2.65/mo; from 82 sized leases

Three years of rents

The line is the median. The band is the middle half of every lease — how wide it runs tells you how much one condo here differs from the next.

$2,868$2,539$2,211$1,882

Oct ’23Jan ’25Nov ’25Sep ’26

Median rent Middle half of leases

What renters actually paid

$2,979/mo

on a $3,000 asking rent — under ask by $21

−10%Asking rent+10%

Of the asking rent: 99.3%
Leased over asking: 9.6%

From 83 leases that closed here in the last 12 months.

Rent or buy in Malvern

15.5 years

of rent, at the going rate here, adds up to what a condo here costs.

Median sold price

$428,782

55 sales

Median rent

$2,307/mo

83 leases

Gross rental yield

6.46%

before costs

Both figures come from deals that actually closed in Malvern over the last 12 months. Gross yield is annual rent divided by price; it does not account for taxes, fees, maintenance, vacancy or financing.

How fast it moves

Median days on market, month by month. Taller means slower.

May 2024Sep 2026

Terracotta marks the last 12 months.

Every month behind these charts — Malvern, rentals

Monthly closed leases in Malvern
Month	Closed	Median	Middle half	Days	% of ask
Sep 2026	9	$2,200	$2,110 – $2,400	17	100.0%
Jul 2026	8	$2,250	$2,075 – $2,600	15	100.0%
Jun 2026	7	$2,300	$2,125 – $2,475	35	100.0%
May 2026	10	$2,300	$2,106 – $2,513	32	97.7%
Apr 2026	6	$2,350	$2,125 – $2,538	17	99.0%
Mar 2026	9	$2,475	$2,250 – $2,600	35	100.0%
Feb 2026	7	$2,350	$2,250 – $2,450	7	100.0%
Jan 2026	5	$2,200	$2,150 – $2,350	16	97.0%
Dec 2025	10	$2,200	$2,063 – $2,438	31	100.0%
Nov 2025	6	$2,225	$2,063 – $2,350	21	97.7%
Oct 2025	6	$2,563	$2,513 – $2,594	15	100.0%
Sep 2025	5	$2,550	$2,500 – $2,550	16	98.1%
Aug 2025	12	$2,313	$2,288 – $2,500	31	100.0%
Jul 2025	9	$2,300	$2,100 – $2,350	28	100.0%
Apr 2025	6	$2,425	$2,325 – $2,488	18	100.0%
Mar 2025	5	$2,200	$1,950 – $2,750	21	100.0%
Feb 2025	6	$2,675	$2,525 – $2,750	33	99.1%
Jan 2025	8	$2,350	$2,275 – $2,413	35	100.0%
Nov 2024	6	$2,500	$2,275 – $2,650	16	98.1%
Sep 2024	9	$2,650	$2,550 – $2,800	35	100.0%
Aug 2024	13	$2,500	$2,450 – $2,650	12	100.0%
Jul 2024	6	$2,525	$2,375 – $2,675	21	100.0%
Jun 2024	6	$2,400	$2,350 – $2,713	40	100.0%
May 2024	5	$2,500	$2,450 – $2,700	35	100.0%
Mar 2024	6	$2,505	$2,215 – $2,750	20	100.0%
Dec 2023	6	$2,100	$2,100 – $2,363	14	100.0%
Oct 2023	5	$2,700	$2,399 – $2,800	16	100.0%

What people ask about Malvern

How much does a condo cost in Malvern?

Condos in Malvern sold for a median of $428,782 over the 12 months to September 2026, across at least 55 closed sales — half sold for more and half for less. That is 8.5% lower than the 12 months before it.

How long does it take to sell a condo in Malvern?

A condo in Malvern took a median of 33 days on the market over the 12 months to September 2026. Condos there closed at 97.3% of the asking price on average, with 21.8% selling over asking.

How much is rent for a condo in Malvern?

The median condo lease in Malvern closed at $2,307 a month over the 12 months to September 2026, across at least 83 leases.

Is it cheaper to rent or buy a condo in Malvern?

A condo in Malvern costs about 15.5 years of the rent on one — the median price of $428,782 against a median rent of $2,307 a month, a gross yield of 6.46%. The shorter that number, the closer buying is to renting before financing costs.

Compiled by HOMEH from leases reported closed in Malvern on the Toronto Regional Real Estate Board MLS® System, through September 2026. Medians are taken over closed prices, not asking prices. Per-square-foot figures use the midpoint of the banded floor-area range MLS® carries, so they describe the group and not any one condo. Not an appraisal or an opinion of value.