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

Location
Toronto
Publish Date
2021/09/27

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.

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