Toronto Was Just Ranked As One Of The Top 5 Least Affordable Cities In The World
A new report just ranked Toronto as one of the least affordable cities in the entire world.
The report, put forth by Demographia, ranks Toronto as the fifth most unaffordable city in the world, beat only by Auckland, Sydney, Vancouver, and Hong Kong, respectively.
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The report factors in median house price and median household income in cities across the globe.
It also ranks the world's most affordable cities, with the United States' Pittsburgh, Rochester, and Buffalo snagging the top three spots.
This isn't the first time Toronto has been called out for its unaffordability — it actually ranked in the top five most unaffordable cities in a totally separate report, published by the Urban Reform Institute and Frontier Centre For Public Policy, in February.