Monday, October 6, 2025

Latest

Toronto Housing: One-Bedroom Rental Passes $2,500 Per Month, Up 21.% YoY

Renting a one-bedroom in Toronto is now 21.5% more expensive than the year before, according to March 2023 data from Rentals.ca. The monthly cost has also breached the $2,500 threshold, putting the Ontario capital behind just Vancouver for the most expensive rental rates in the country.

Across the country Toronto, Kitchener, Langley, Brampton, London, St. Catharines, and Calgary showed the highest year-over-year increases for one-bedroom listed rentals, while Cambridge, Halifax, Montreal, Edmonton, and Oshawa showed the lowest year-over-year increases.

The data shows that the overall average listed rental rate in the country is up 9.7% to $1,984, but rental inflation is down a cumulative 2.0% over the past three months following a peak of 12.4% in November. 

The change can be attributed to an increase in home-buying demand and an increase in new listings coming from new apartment completions.

Among the provinces, Ontario showed the largest year-over-year increase at 16.2%, followed by Alberta with 14.5%. Saskatchewan showed the cheapest overall average listed rental rate at just over $1,000.

Ontario’s massive increases are causing record levels of outmigration from the province, with about 50,000 people leaving just in the past year. The high cost of living is sending young adults aged 25 to 35 to Alberta and Atlantic Canada according to the Smart Property Institute.

March 2023 data shows that the average monthly rental for a one-bedroom in Ontario is over $500 more expensive than a three-bedroom in Alberta.


Information for this briefing was found via Rental.ca, CBC News, Twitter, and the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Fortune Bay: The Potential Billion Dollar Project

Japan Gold Enters New Chapter as Barrick Alliance Concludes – John Proust

Barrick Mining’s “Company Defining [Gold] Discovery”

Recommended

Nord Precious Metals Produces High Grade Silver Concentrate From Tailings

ESGold Secures $9 Million In Non-Dilutive Funding From Ocean Partners

Related News

Homeownership Feels Out of Reach for Many Canadians

A new CIBC survey reveals that 76% of Canadians who don’t own a home feel...

Friday, April 12, 2024, 08:06:37 AM

Canada To Welcome 500,000 Immigrants Per Year By 2025 To Fill Labor Gap

Canada, which welcomed a record 405,000 immigrants this year, aims to work its way to...

Thursday, November 3, 2022, 10:33:19 AM

US Mortgage Rates Back at 7%, Gap Between Cost To Buy Or Rent A House Hits New Record

Mortgage rates in the United States have surged back up to 7% for the 30-year...

Tuesday, May 23, 2023, 10:14:08 AM

CMHC Rings Alarm on Canada’s Deteriorating Housing Affordability

Canada Mortgage and Housing Corporation (CMHC) chief economist Bob Dugan expressed concerns over the deteriorating...

Monday, June 19, 2023, 04:11:08 PM

Canadian Home Prices at 1988 Levels … When Measured in Gold

While Canadian home prices have become less affordable in dollar terms, they have actually returned...

Monday, September 16, 2024, 01:47:00 PM