Despite twenty consecutive months of year-over-year declines in asking rents, affordability remains the primary hurdle for Toronto renters. A new Rentals.ca poll reveals that 70% of respondents identify high rent as their biggest obstacle, highlighting a persistent disconnect between market realities and household budgets. With the average Canadian asking rent at $2,029—down 7.8% from its 2024 peak—many renters are still priced out, as 42% report a budget of less than $1,500 per month. The data suggests that for many, moving is a necessity rather than a choice, with 40% of renters citing the search for affordability as their primary motivation. As the market enters the peak summer season amidst record apartment completions, nearly half of renters expect costs to stagnate or rise further. For a deeper dive into these shifting rental dynamics and the full survey findings, visit the original report at BNN Bloomberg.
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