Rents in Toronto are at an all-time high.

According to Rentals.ca, rentals in Toronto have risen dramatically. As per research, rent for new apartments in the city has risen by more than 10% yearly. In August, the typical monthly rent for a one-bedroom apartment increased to $2,620. There has been a 10.5 percent increase since August 2022. A two-bedroom apartment costs $3,413 per month. Over the previous year, there was a 7.1 percent gain.

Rents increased in other cities in the Greater Toronto Area as well. Rent for a single-bedroom apartment in Brampton has increased by 29% year on year to $2,274 per month.