Toronto rents are climbing and many are considering moving out of the city

Toronto rents are climbing and many are considering moving out of the city

Toronto rents are climbing and many are considering moving out of the city For many, owning property in Toronto is simply out of the question, and rental buildings have been popping up in greater numbers to satiate demand. Competition is still fierce even on the rental market, and average rent prices have been climbing in the city as the economy bounces back from a lockdown-induced recession. According to Rentals.ca's and Bullpen Research & Consulting's latest National Rent Report, it's part of a country-wide trend that saw average rents continue their crawl upward in the third quarter of 2021. A slight 0.3 per cent increase over August's average rent marks the fifth consecutive month of the national average rent rising since hitting an April low of $1,675. By September, this number …
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