Tuesday, November 13, 2018

Toronto’s Sky-high Housing Prices

Development pressures in such communities have affected tenants in many ways — driving rents higher and fueling gentrification and a renovation craze. 

These factors create a precarious situation for renters - the two largest groups affected by high rents are seniors and students.

Read more here: How Toronto’s sky-high housing prices are forcing seniors out of their homes

According to the Centre for Equality Rights in Accommodation, a third of seniors are tenants, and the majority of them already spend more than the recommended 30 per cent of their income on housing. Seniors, like everyone else, are hit with escalating rents — but most are on a fixed income. 

Affordable social housing is an option, but the waiting list in Toronto is nearly nine years and 100,000 households long — the wait can be even longer for those who don’t qualify for special priority status.

From the University of Toronto Student life Housing  info page:

Getting a clear picture of the cost of living can help you budget for the year. Estimated costs of living in Toronto, Mississauga and Scarborough for 2018-19 are provided below.

Estimated living and studying costs for the academic year (8 months)

Food: $1604 - $3700
Clothing: $900 - $1100
Local Transportation: $934 ($116.75 per month)
Books, supplies and instruments: $1000 - $2000+
Miscellaneous: $1000 - $2000

Housing Costs

CMA (Census Metro Area)

Room: N/A
Bachelor: $1,013
1-bedroom apartment: $1,194
2-bedroom apartment: $1,404
3+-bedroom apartment: $1,569

Near St. George 

Room: $900*
Bachelor: $1,096
1-bedroom apartment: $1,353
2-bedroom apartment: $1,983
3+-bedroom apartment: $2,451

Near UTM

Room: $702*
Bachelor: $900
1-bedroom apartment: $1,210
2-bedroom apartment: $1,327
3+-bedroom apartment: $1,780


Room: $800*
Bachelor: $927
1-bedroom apartment: $1,100
2-bedroom apartment: $1,353
3+-bedroom apartment: $1,762
  • CMHC Rental Market Report – Fall 2017
  • *Room avg. source: U of T Off-Campus Housing Service – Fall 2017

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