roomvu logoPricingFree Trial

Toronto rent reports predict increase in rent prices across the GTA for this year

Publish Date

The pandemic declined the rents as schools and jobs switched online, but now as U of T is returning to in-person classes, there are worries about affordability. According to GTA, the avg annual rent ↓ 19% in 2021; condo prices ↓ 17% YoY, from an avg monthly price of $2,480/unit to $2,047. As schools and workplaces reopen and the rental properties demand rise, the rent prices have been rising too, the avg ↑ 2.2%/sq ft since January. According to U of T, despite lower prices and even additional incentives during last year, prices for off-campus housing are rising due to a lack of inventory. But the good news for students is that rates, at this point, are not rising above pre-pandemic.

Market Update

Sign up