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Good morning — Andrew from Narcity here! ☕

And joining me this morning is Kelly Asselin-Tousignant from our copy desk.

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Buying a home in Toronto used to be the goal millennials and Gen Z laughed at, but now even rental prices might draw a chuckle or two.

In February 2022, the average monthly rent in the GTA was $2,206, according to a TorontoRentals.com report released on March 28.

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Toronto rent prices are slowly going back up after declining during the COVID-19 pandemic, and it could be time to start packing your bags.

According to Rentals.ca, the average price of a one-bedroom apartment in the 6ix is currently just under $2,000, which is down 2.9% compared to the same period last year. However, overall rent, which is $2,181, is up 6.7% from the second quarter of 2021.

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As Ontario gets colder this winter, your rent prices may get hotter.

Ontario's rent freeze was put in place on October 1, 2020, and officially expired on December 31, 2021.

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