{"id":121,"date":"2015-09-06T10:25:17","date_gmt":"2015-09-06T10:25:17","guid":{"rendered":"http:\/\/www.torontorentals.com\/blog\/?p=121"},"modified":"2015-09-07T00:44:40","modified_gmt":"2015-09-07T00:44:40","slug":"the-toronto-rental-market-situation-gets-even-uglier","status":"publish","type":"post","link":"https:\/\/www.torontorentals.com\/blog\/the-toronto-rental-market-situation-gets-even-uglier","title":{"rendered":"The Toronto rental market situation gets even uglier"},"content":{"rendered":"

When John Mercer said that the demand for rental housing in Toronto is outpacing demand, he wasn’t kidding and he certainly wasn’t exaggerating.<\/p>\n

Mercer is the Toronto Real Estate Board’s director of market analysis and was quoted in a release about how the local rental market is heading skyward \u2013 in a big way. The TREB was discussing Q2 findings about rentals in Toronto listed on the MLS’s own rentals search tool (which isn’t a GREAT indicator, because let’s face it, it’s certainly not the best rental listings search tool out there). Anyway, the findings were pretty staggering:<\/p>\n

http:\/\/www.torontorealestateboard.com\/market_news\/release_market_updates\/news2015\/nr_rental_report_Q2-2015.htm<\/a><\/p>\n

There were 8,821 condo units rented out in TO in Q2 of 2015…<\/p>\n

…compared to 7,333 in Q2 of 2014.<\/p>\n

That’s an increase of 20.3%.<\/p>\n

Whoa. But then, there’s this:<\/p>\n

“For TREB\u2019s market area as a whole, average rents for one-bedroom and two-bedroom apartments, which made up a combined 94 per cent of rental transactions, were up by 1.5 and 4.5 per cent respectively to $1,608 and $2,239.”<\/p>\n

The SUPPLY of rental units on the market increased 23% year-over-year, and still, rental prices increased by somewhere around 1.5% to 4.5%.<\/p>\n

Friends and fellow renters, let’s all come together in a giant, city-wide hug for mutual support through this painful and income-annihilating time in our lives.<\/p>\n","protected":false},"excerpt":{"rendered":"

When John Mercer said that the demand for rental housing in Toronto is outpacing demand, …<\/p>\n","protected":false},"author":26,"featured_media":124,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"coauthors":[220],"class_list":["post-121","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-rental-guides"],"yoast_head":"\nThe Toronto rental market situation gets even uglier<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.torontorentals.com\/blog\/the-toronto-rental-market-situation-gets-even-uglier\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"TorontoRentals.com Blog\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.torontorentals.com\/blog\/the-toronto-rental-market-situation-gets-even-uglier#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.torontorentals.com\/blog\/the-toronto-rental-market-situation-gets-even-uglier\"},\"author\":{\"name\":\"TorontoRentals.com Blog\",\"@id\":\"https:\/\/www.torontorentals.com\/blog\/#\/schema\/person\/53503b1c0fd1a6bc186b273abbee8d44\"},\"headline\":\"The Toronto rental market situation gets even uglier\",\"datePublished\":\"2015-09-06T10:25:17+00:00\",\"dateModified\":\"2015-09-07T00:44:40+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.torontorentals.com\/blog\/the-toronto-rental-market-situation-gets-even-uglier\"},\"wordCount\":224,\"image\":{\"@id\":\"https:\/\/www.torontorentals.com\/blog\/the-toronto-rental-market-situation-gets-even-uglier#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.torontorentals.com\/blog\/wp-content\/uploads\/photo-1432297984334-707d34c4163a1.jpg\",\"articleSection\":[\"Rental Guides\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.torontorentals.com\/blog\/the-toronto-rental-market-situation-gets-even-uglier\",\"url\":\"https:\/\/www.torontorentals.com\/blog\/the-toronto-rental-market-situation-gets-even-uglier\",\"name\":\"The Toronto rental market situation gets even uglier\",\"isPartOf\":{\"@id\":\"https:\/\/www.torontorentals.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.torontorentals.com\/blog\/the-toronto-rental-market-situation-gets-even-uglier#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.torontorentals.com\/blog\/the-toronto-rental-market-situation-gets-even-uglier#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.torontorentals.com\/blog\/wp-content\/uploads\/photo-1432297984334-707d34c4163a1.jpg\",\"datePublished\":\"2015-09-06T10:25:17+00:00\",\"dateModified\":\"2015-09-07T00:44:40+00:00\",\"author\":{\"@id\":\"https:\/\/www.torontorentals.com\/blog\/#\/schema\/person\/53503b1c0fd1a6bc186b273abbee8d44\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.torontorentals.com\/blog\/the-toronto-rental-market-situation-gets-even-uglier#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.torontorentals.com\/blog\/the-toronto-rental-market-situation-gets-even-uglier\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.torontorentals.com\/blog\/the-toronto-rental-market-situation-gets-even-uglier#primaryimage\",\"url\":\"https:\/\/www.torontorentals.com\/blog\/wp-content\/uploads\/photo-1432297984334-707d34c4163a1.jpg\",\"contentUrl\":\"https:\/\/www.torontorentals.com\/blog\/wp-content\/uploads\/photo-1432297984334-707d34c4163a1.jpg\",\"width\":3656,\"height\":1617},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.torontorentals.com\/blog\/the-toronto-rental-market-situation-gets-even-uglier#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Toronto Rentals Blog\",\"item\":\"https:\/\/www.torontorentals.com\/blog\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Rental Guides\",\"item\":\"https:\/\/www.torontorentals.com\/blog\/rental-guides\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"The Toronto rental market situation gets even uglier\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.torontorentals.com\/blog\/#website\",\"url\":\"https:\/\/www.torontorentals.com\/blog\/\",\"name\":\"Toronto Rentals Blog\",\"description\":\"Looking for an apartment in Toronto? 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