Average rent in Canada tops $2,000 per month | About That

The average rent in Canada, accounting for all kinds of housing, has skyrocketed to over $2,000 per month. A Toronto-area woman tells About That what kind of problems she faced after her landlord tried to steeply increase her rent.

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[sallgood]

And we wonder why so many people are living in tents. It's getting harder and harder for a person working full time on minimum wage can afford their own place

[MyFavouriteStation]

My first apt at 18 in the city of Vancouver was a 2 bdrm for $700. I'm now 43 and stuck in the Vancouver rent-trap. At one point in my late 30's I had about $60K saved. That wasn't enough a down payment on anything, and not even looked at by the banks since I'm single self-employed person with no co-signer. As much as I wanted to continue growing that amount, it started to get used. And used some more. I've now lost all my savings, and now in debt. I lived abroad for the greater part of my 20's-30's and used to be very proud to call Canada home, but a HOME is relative to what? We need to be able to grow, not dwindle. I'm doing my best to get out of debt, GRATEFUL to be grandfathered into my current apartment with rent-protection, but this building could be sold for development anytime. And that constant state of unknowing has its own terrible affects.

[fernandajanicas]

My son pays half of his income on rent, his friend just sign a contract for $2700 a month on rent, she is going to pay half of her income one rent, I feel sorry for young generation they can never be able to buy a house.
There’s so many empty buildings in the city, they should turn those into affordable apartments so people would have a chance to live a decent life, Canada put billions of dollars helping other countries ( I understand we have to help other countries in need) but shouldn’t we help our own people first or our governments should do something about and not just talk about it, action are better then just words

[TakManSan]

When housing is treated like a commodity with massive investment from corporations to buy up property to force scarcity the 'market' bloats and bloats. Landlords have been raising rent up to the limit (if there is one), and pushing the limit over and over and over and with 0.5% Vacancy ... they can charge more for an apartment than the mortgage for the entire home. Friends pay 135% more than our mortgage, to rent a 900sq/ft house. So they pay so much they can't afford to save for their own place. If they owned it, even with all the costs they'd be paying less than us. The value of our house has increased by 200% in one decade.

[sms]

Average of $2000 a month for rent vs. $375 people on disability receive for rent each month. Way to go Canada. Leaving the most needy facing life on the streets.

[iamlhm]

The first time when I came to Richmond, BC, in 2015 Jan, my rent was $900 (850sqft). Current rent is starting from $1800..Insane.

[faraboverubieskerry]

The EXACT same thing is happening in the US, the UK and Australia. It looks like the middle class is being wiped out and 2 extreme classes of society are being put into place like a dystopian film. Scary

[ignaoriginals]

Rent is getting worse, i swear i have to work overtime and i still struggle paying basic bills

[coco_k]

Since I couldn’t afford to buy a house anyways it didn’t bother me so much of crazy housing prices but now rent is also going crazy and it concerns me. I am looking for a small studio apartment outside of downtown and I cannot find anything under $2, 000. I am considering buying a tent next month.

[georgeferguson]

If you pay $2000 for rent, your income should be $6600, $1600/wk, $40/hr. I'm on a neighborhood app in Toronto, and every week, people are complaining about things being stolen. They say these people should get a job because so many are available. I ask how many are paying $35/hr. No response.

[mberry]

rent in Toronto was O.K. until around 2016, when the immigration floodgates opened (also when Trudeau started his "Destroy Canada" plan). A million extra people, with no extra units. An apartment I was renting in 2015 for $800 is now $1, 800. Countries in Europe have taken steps to block immigration, I wonder if they will EVER do that here....

[wcewodi]

Managing money is different from accumulating wealth, and the lack of investment education in schools may explain why people struggle to maintain their financial gains. The examples you provided are relevant, and I personally benefited from the market crisis, as I embrace challenging times while others tend to avoid them. Well, at least my advisor does too, jokingly.

[darnellcapriccioso]

For 2023, it’s hard to nail down specific predictions for the housing market is because it’s not yet clear how quickly or how much the Federal Reserve can bring down inflation and borrowing costs without tanking buyer demand for everything from homes to cars.

[TheZoltanChronicles]

"You shouldn't be paying more that one third of your income on rent..." HA!

[kwf]

A definition of poverty in Canada used to be, " an inability to pay one month accommodation with one week's wages." Sad. Time to look outside Canada for an affordable place to live.

[yirimezgit]

I just checked what is available below 2k in Toronto there is basically no condo apartment at all available! This is what realtors and builders did over years and years! They sold places with crazy prices promising such guaranteed rentals. If you are working professional, it is no sense accepting any job below 200k.

[mohammedmubarak]

And the landlords are trying to make old tenants vacate to get new tenants for higher price. I personally experienced an issue with my landlord who asked us to vacate if we want to make any lease changes(adding another tenant) they were literally forcing is to do it.

[tamina]

When will the Government step in and do something for the people 😢

[bunnyniyori]

I live in a nice place with reasonable rent, it's inclusive. The landlord is a decent person. I have not seen a rent increase from him since 2006!! But even he broke under the strain. I told him I wasn't going to give him grief. It's still nice rent. But the reality is, I'm likely going to be here on my last day if something miraculous doesn't happen. Because it's either here for 800, or anywhere else for 1200. And as I am on disability and so is my spouse, this is it. There is nowhere else. And locally (Lindsay) the average is really 1400 to 1600 for a 1 bedroom apartment. The average singular individual simply can't manage on 800 bucks plus utilities, you either have 2 incomes contributing, or you are out of luck. Something has to happen, and I frankly have no idea what that needs to be. I love my country dearly, but it is not easy to live here if you are an average schmuck and live alone. You need that extra income.

[Dan-ntyb]

Building affordable housing is easy. But…why the hell would developers do that? There’s no money to be made. Fellow Canadians…the next to you vote, DEMAND that the candidate you’re considering supporting has put affordable housing numero uno on their list of promises.