Toronto condo rents just hit new records!

Ah yes, Toronto is at it again…sucking up our money however it can.

According to real estate group Urbanation, Toronto condo rents have just broke new record highs! After increasing 7.6 per cent, the new average rent is $2,385 per month.

 

 

 

 

Can someone please explain how the average earner making around $40,000 per year can afford to live in the city? Oh right…you move. Lets commute 2.5 hours a day.

To make matters worse, there isn’t enough condos being built to accommodate the growing demand.

 

 

To top it all off…the little bit of new supply coming in is extremely expensive.

Your options are simple: 1. live in the city and hustle or 2. leave the city.

When do you guys think these rent increases will stop?

What can be done to stabilize Toronto rent?

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4 thoughts on “Toronto condo rents just hit new records!

  1. The cost of living has become an incredibly harsh reality. It has become normal to live at home until your 30’s. We all need to take a deep breathe and try to accept these dark times.

    1. 100%! I would even say its normal to live with your parents until late 30s. You need to partner with someone before moving out. Not a bad idea to travel in the meantime!

  2. I honestly dont think rent in Toronto will decrease. Toronto is ranked as one of the best cities to live in. Unless there is some major change and people stop wanting to live here, it will be reserved only for the wealthy.

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