The average cost of a one-bedroom rental in Toronto is now $2,300
Can we go a single freaking month in this city without breaking a new record for high rent prices?
Apparently not, suggests newly-released data from the analysts at PadMapper.
The apartment hunting website just dropped its monthly cross-country rental report, which tracks rent prices in the top 24 most populous metro areas across Canada.
The situation is pretty grim, to say the least... but mostly for residents of Toronto and, to a lesser extent, Vancouver.
Toronto reached a new peak median rental price of $2,300 per month for one bedroom units in August of 2019, by PadMapper's calculations.
That's only ten dollars more than what landlords were asking for at the time last month, but still marks a 7.5 per cent year-over-year increase. Two bedrooms held steady between July and August at $2,850.
See the full coast-to-coast breakdown for median rent prices from PadMapper below... and maybe start looking for jobs in St. John's.
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