If you’re stuck in Ontario wondering whether you should keep renting or take the plunge and buy, you’re not alone. The math is brutal, the options confusing, and neither path feels “obviously right” right now.
Here’s a breakdown of where things stand in 2025, what they actually cost, and how people are navigating the mess.
📊 The Current Snapshot
Renting
- In Ontario, average asking rents for one-bedroom units recently hit about $2,329/month.
- In Toronto specifically, one-bedroom average rent is roughly $2,017/month as of September 2025. Apartments.com+2TRREB+2
Buying
- The average selling price of a home in Ontario in September 2025 was about $781,500 (down ~6.7% year-over-year). nesto.ca
- Mortgage rates in Ontario (5-year fixed) are higher than they were a few years ago, with many buyers facing monthly payments well above what they anticipated. Ratehub.ca+1
- For example: one source lists average monthly mortgage payment in Ontario at $2,646/month. Forbes+1
🤔 So… Which is the scam?
Here’s the truth: neither path is clearly “winning” right now.
- Renting at ~$2,300/month feels insane when you’re trying to build stability or save.
- Buying with a home price near $781k + high interest + maintenance + taxes = massive monthly commitments.
- Many potential buyers feel stuck: too expensive to buy, but tired of renting.
In short: You’re not crazy for feeling like you’ve got no good options.
🔄 How People Are Actually Doing It
Instead of the standard “rent forever or buy now” script, many Ontarians are choosing alternatives:
- Roommates / shared ownership: Two people buying together, or roommates renting a larger space and splitting costs so each pays less than the average one-bed rent.
- Multigenerational living: Families combining households (parents + adult children) to share costs and stay in a home rather than rent multiple places.
- Buy outside the city / commute less often: Looking 1-2 hours outside major cities where buying is cheaper, though it comes with trade-offs.
- Buy with friends or siblings: Pooling down-payment and income to qualify for a starter home together.
- Stay renting + invest elsewhere: Some are staying in rented city apartments and investing in real estate in lower-cost markets instead of buying high.
📝 What You Should Do
- Calculate your actual budget: Include not just mortgage/rent, but utilities, taxes, insurance, maintenance, commuting.
- Ask: “If I buy, how long until I escape feeling ‘house-rich, cash-poor’?”
- If renting, ask: “Am I okay staying put and building savings/investments elsewhere?”
- Explore alternative models: Maybe buying solo isn’t realistic yet, look at shared ownership or leaving the city bubble.
- Stay informed: Market conditions, interest rates, rules keep changing.
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