The Average Rent For A Condo In Toronto Has Skyrocketed And You Will Want To Cry
Yep, that's right. As if the Toronto real estate market isn't depressing enough, things have gotten worse. So, sorry for temporarily putting a damper on your Friday.
In comparison to one bedroom condo prices of this time last year, costs have increased about 7.2%, leaving those looking to move out of their parent's house to the big city a whopping price tag of $1777 per month. Please take this time to pick your jaw up off the floor.
So, if you're now thinking about plan B aka plan "I need a roommate" you might want to think again. With rates shooting up a 2 bedroom condo will cost you around $2,219 (8% more than it would have in 2015).
I have my fingers crossed that you all receive raises and promotions because it looks like a little extra cash might be more necessary than we thought. Good Luck Toronto, hears to hoping we all won't be stuck in our parent's basements!
Source: The Toronto Real Estate Board