Toronto for the past years has been considered as one of the most expensive cities to live at and rent an apartment. Pad mapper has recently released a report that has performed analysis of rentals of active listings of hundred and thousands of requests received which now suggest Vancouver as the most expensive Canadian city to rent a house at. The decline in process of the rentals has also been attributed to the recent pandemic of COVID-19 where people had avoided separate residing in order to save money by living with their parents or siblings or friends. Experts dealing in the market of rentals told the CCTV News Toronto that there had been a significant drop down of prices until 2021. The rentals had dropped down to 5 % in Toronto while they had dropped down in Vancouver to about 1.5% while the rental for one bedroom apartment had reduced to as low as 17%. At around 2018, the rentals were as high as 2090$ in Vancouver and 2070 $ in Toronto for one bedroom apartment. Currently average rents for one bedroom apartment at Toronto city are 1900$
FINDING APARTMENT ON BUDGET
Finding an apartment on budget could be a tricky job but one can search the right place if guided in a right order. Various people have mentioned of how they had to change apartments from time to time based on the living standard as well as the situation in life. All in all a good advice can always help find the right place to rent and live in Toronto. The rates of rentals can vary from place to place and can have a surprise rise for those who are unaware or does not hold much knowledge and information regarding the pricings and rentals in Toronto. The research and information is often essential before investing into the rentals for the apartments. There are various websites, blogs as well as Facebook groups that can provide considerable information when one decides to rent a house in Toronto. Some of these sites can help to find you ideal place and location to live at. A few of the websites that can be searched through for valuable information on rentals such as view it, realtor.ca, condos.ca, pad mapper, craigslist as well as nice place Toronto. One can also activate a personal alert on the Google to carry out research for appropriate rents on budgets.
AFFORDABLE NEIGHBORHOODS FOR RENTING APARTMENT IN TORONTO
It isn’t an easy job to buy apartments in Toronto as the prices of renting apartments are rising on a daily basis making an average earner more difficult to buy an apartment at a certain time of their life. The price of rentals can vary in different regions and it’s also not uncommon that an average person having to pay rents spends more compared to the price of mortgage that is required to pay for an apartment. However, the prices as well as rentals of apartments in Canada have been on a rise for very long. Even in 2019 before the pandemic the one bedroom apartment rent was estimated to be 2300$. Despite all the high pricings, there are also some areas that provide a decent place to live at a pretty reasonable cost. Some of the neighborhoods in Toronto that provide reasonable rates for rent and are also comfy to live at are as follows:
Weston is a neighborhood located at the west end of the city and has monthly rentals as low as 950$. Similarly, black creek is area located between the Jane and finch area of the city and consist of population belonging mostly to Jamaican, Vietnamese and Italian immigrants is popular among families as the rentals in this region can be as low as 1000-1015$. Rexdale area has as low as 887$ rent per month. Scarborough city center has rentals at an average value of 1070$ and East York at an average of 1080$ per month. Keelesdale-Elington West has by far the lowest rent prices of up to 890 to 900$ per month while the residents of the area can also enjoy the vibrant scene along the Ellington avenue.
BEST NEIGHBORHOOD IN TORONTO
Toronto is considered as the city of neighborhood as it contains 140 officially recognized neighborhoods and almost 239 neighborhoods that are not yet recognized. This makes it difficult to decide an ideal place to choose and live at but one always tries to seek a place where they can live comfortably with reasonable rentals and good environment. Various factors play an essential role in deciding where one can live which ultimately depends on how much one can spend money to buy a nice place to live at with all the vibes of friendly neighborhood and availability of workplace and schools near the area one chose to live at. It also depends on how close one wants to be near their workplace or if they have a conveyance to drive to the workplace that is far from the place of living. Some of the best neighborhoods in Toronto are The Annex, Kensington market which is an iconic and unique place in Toronto to live at, little Italy located near the Kensington market and is one of the best neighborhood in Toronto especially for one to be able to leave home at night as well. Trinity Bellwood, liberty village, Park Dale, High Park North, Chinatown, Leslie Ville, Little India, Cabbagetown, The Village, Riverdale, The Beaches, Casa Loma, Lawrence Park North, Yonge Eglinton, Yonge St. Clair, Rosedale, Yorkville and downtown core are some other amazing places where one can consider living if the budget and conditions allow for one to live at.
TORONTO AMONG THE MOST EXPENSIVE CITIES FOR LIVING
Toronto is the largest city of Ontario with constant expansions in suburban areas to even Hamilton is also one of the most populous cities of the country. The city along with Vancouver has been listed among the top most expensive cities of Canada in terms of buying houses as well as renting apartments. In 2020, an annual housing affordability survey was performed to rate affordability and placed Toronto at 6th place for being severely unaffordable among the 309 cities of the world which also suggest that finding a house in Toronto may be more difficult compared to other world cities such as Brisbane, London and New York.