Tag: renting
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Average Toronto Renter Earns More Than $94K – But Still Can’t Afford To Buy
Toronto’s rental market may finally be cooling, but affordability remains out of reach for many residents, even those earning close to six figures. A new national report from SingleKey shows that the average Toronto renter now earns $94,370, making them the highest-earning tenants in Canada. Still, the path to homeownership in the city is slipping further out…
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Half of Young Canadians Now Spend Over 50% of Their Income on Rent
A new survey shows that almost half of young Canadians are putting the majority of their income toward rent, highlighting the affordability crisis facing renters across the country. Rent Costs Exceeding Income Benchmarks For decades, financial advisers have recommended keeping housing costs around one-third of household income. But according to a 2025 survey by Rentals.ca,…
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One-Third of Canadian Renters Say They Don’t Plan to Buy a Home
As affordability trends begin to shift slightly in Canada’s housing market, a significant number of renters remain hesitant, or straight up uninterested, in making the leap to homeownership. According to Royal LePage’s 2025 Canadian Renters Report, approximately one-third of renters across the country have no plans to purchase a home. While falling rents and softer…
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How Much You Need to Earn to Afford Rent in Toronto vs. GTA Suburbs Right Now
If you’re planning to move to Toronto or the surrounding suburbs, understanding rental costs is crucial. The November 2024 rent report by liv.rent shows interesting trends, including a drop in Downtown Toronto rent prices for the fifth consecutive month. Surprisingly, Markham has overtaken Toronto as the most expensive spot for rent in the GTA. Highlights…
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Canadian Rents Fall for the First Time in Over Two Years
For the first time since July 2021, Canadian rental prices have experienced a year-over-year decline. The October 2024 Rentals.ca Rent Report shows a 1.2% annual drop in average asking rents across Canada, with the national average now sitting at $2,152. The decline signals a potential shift in Canada’s rental market dynamics, especially in previously high-demand…
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How much it costs to rent in Canadian cities right now
Rentals.ca just launched their October 2024 Rent Report and here’s everything you need to know. In September 2024, average asking rents across Canada for all residential property types saw a modest 2.1% increase year-over-year, reaching $2,193. This marks the smallest annual rent increase since October 2021, highlighting a slowdown in the rapid rent growth we’ve…
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Here’s how long you need to save to afford a home in Ontario
As home prices continue to soar across Ontario, the prospect of homeownership becomes increasingly elusive for young renters. Despite a strong desire to own a home, many face daunting timelines—spanning years or even decades—before they can save enough for a down payment. A new study by real estate marketplace Point2Homes highlights this challenge, revealing that…
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Canadian Rent Prices Reach Record High of $2,202 in May
According to a new report by rentals.ca, the average asking rents for all residential property types in Canada reached a new high of $2,202 in May 2024. This is the first time the national average rent has surpassed the $2,200 mark, indicating a significant trend in the Canadian housing market. National Rent Rankings – June…
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How to Save for a Downpayment on a House in Ontario While Renting
Saving for a downpayment on a house in Ontario can be challenging, especially while renting. However, with some financial planning and discipline, it is entirely achievable. In this article, we’ll provide you with some tips to help you save for a downpayment on a house in Ontario while renting. The first step in saving for…
Canada Housing Market 