Renting in Toronto has its drawbacks. We pay a ton of money for very small spaces, and we often have to compete against dozens of people for even the most average apartments.
We love complaining about renting in Toronto, but the bright side is it’s not all that bad. To help you clear your TO renting blues, here are 6 facts that will make you feel better about renting in Toronto.
$4,081 – The average rent for an apartment in NYC. In Toronto, it’s $1,200. Source: The Guardian
12.8% – The rate by which rents in San Francisco rose last year. Toronto instated a rent increase cap of 1.6% for 2016. Source: Forbes
0.6% – The rental vacancy rate in Victoria at the end of 2015. Toronto’s was about 1.7%. Source: CBC
$7,500+ – The reported average rent in Hong Kong for a 3-bedroom apartment. WTF. Source: InterNations
45% – The amount by which rents in some Berlin neighbourhoods increased in a single year. Source: Die Welt
4 – The number of women who are not allowed to rent an apartment together in University City, Missouri. Source: DumbLaws
While renting is expensive and apartments are hard to come by here, it could always be worse. Plus, we live in a pretty sweet spot with some awesome culture, food, activities and opportunities. So really, it’s not all bad.
What’s your favourite/least favourite thing about renting in Toronto?