Renting in Toorak (postcode 3142, City of Stonnington) means paying a premium for Melbourne’s most prestigious suburb. Here’s what the market looks like, where the value sits, and how to find a place without losing your mind.
See our full [Toorak cost of living guide](/toorak/cost-of-living/) for the broader picture.
Rental Prices (2026)
| Property type | Weekly rent |
|---|---|
| Studio/1-bed apartment | $400–$550 |
| 2-bed apartment | $550–$850 |
| 3-bed townhouse | $900–$1,400 |
| Freestanding house | $1,500+ |
Prices vary significantly by location within the suburb. Toorak Road apartments are at the higher end. Canterbury Road units offer relatively better value. The grand streets south of Toorak Road rarely have rental stock — when houses appear, they command premium rents and go fast.
Where to Rent in Toorak
Toorak Road/Village area — Maximum convenience: walk to France-Soir, Rustica, the Coles, trams 8 and 58. Higher rents and traffic noise. Best for professionals who value the village lifestyle.
Canterbury Road corridor — Quieter, slightly cheaper, and still walking distance to everything. The older apartment blocks here offer the best rent-per-square-metre in the suburb. Close to Glovers Station cafe and Kazuki’s restaurant.
Kooyong Road edge — Transitional zone bordering South Yarra. Toorak postcode at closer-to-South-Yarra prices. Good for younger renters who want both suburbs’ amenities.
How to Secure a Rental
- Applications ready before inspecting — Reference letters, payslips, 100-point ID, rental history. Pre-fill 2Apply or Ignite forms.
- Apply on inspection day — Good Toorak properties don’t sit for a week.
- Personal note in your application — Explain who you are and why you want the property. Toorak agents and landlords care about tenant quality.
- Be flexible on dates — Offering an earlier start date gives you an edge.
- Walk the streets — Some Toorak landlords still use window signs rather than online portals.
What to Watch For
- Older apartments on Canterbury Road — Check ventilation, damp, and window seals. Some 1960s–80s builds have moisture issues.
- Toorak Road noise — Inspect at 6pm on a Friday, not Tuesday at 11am. The traffic difference is significant.
- Parking — If your apartment lacks a car space, check the street parking situation. Many streets require Stonnington Council permits.
- Body corporate rules — Some buildings restrict pets, washing on balconies, and music. Check before signing.
FAQ
What’s the cheapest way to rent in Toorak? A room in a share house ($250–$350/week) or a studio apartment on Canterbury Road ($400–$450/week).
Is Toorak good for renting with pets? Harder than some suburbs. Many apartment buildings restrict pets. Freestanding houses and townhouses are more flexible, but they’re expensive and rare in the rental market.
How does Toorak rent compare to South Yarra? 10–20% higher for equivalent properties. You’re paying for the postcode, the quiet streets, and the school access.
Verdict
Renting in Toorak is expensive but straightforward — the stock turns over regularly, the quality is generally high, and the suburb delivers genuine lifestyle benefits for the premium. Canterbury Road is the value pick; Toorak Road is the convenience pick; and a room in a share house is the reality check for anyone who wants the postcode without the solo rent burden. Come prepared, apply fast, and be realistic about your budget.
More on Toorak: Toorak Suburb Guide · Toorak Cost of Living · Toorak for Young Professionals
Explore More of Toorak
- Toorak History
- Toorak Toorak For Families
- Toorak Things To Do
- Toorak Toorak For Young Professionals
- Toorak Cost of Living
- Toorak Neighbourhood Guide
- Toorak Transport Guide
- Toorak Best Cafes
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