Toronto neighbourhoods with highest # of condo rentals in the last week (July 18-24)

Why does this information matter?

*Disclaimer: this only applies to condo rented through the MLS system. this does not factor in private rentals through sites like Kijiji, Padmapper, etc.*

The sheer number of condos that were rented in the Downtown core last week was purely astounding.

In the Waterfront areas alone, there were 150 condos rented with another 88 being rented in the Bay St corridor.

This feverous pace spread over to the Church-Yonge corridor as well which saw 116 units rented over the last week.

So what does this mean for the average renter?

There are a lot of units being rented but there is equally a lot of competition for those condos.

With the average purchase price of a condo in Toronto hovering around the $770,000 mark, many people are priced out of the market (especially in light of recent interest rate hikes) which has caused further demand on the rental market.

Pair this with the fact that many people are returning to in-office work & in-person schooling throughout the Downtown core and you've got a non-ideal situation for prospective renters that is likely to persist for many months to come.

The market is continuously shifting right now so be sure to check back next week for my latest update on what's going on with rentals in Toronto.

Have any questions?

Feel free to message me on Instagram @TorontoRealEstate.ca !

Rylie C.