Why is rent so expensive in the GTA?

[cheapmeister]

Why is it so expensive to rent an apartment in the GTA? Outside of the GTA rent is a lot cheaper and the buildings have lots of parking. Apartment buildings in the GTA are so old and many of them are gross. Just check the bed bug registry and you will see what I mean. So why is the GTA more expensive, yet it is not in any better condition than a cheaper place outside of the GTA?

[stealth]

World class property values.

[cheapmeister]

World class property values.

Yea but the apartments aren't world class. They don't even have central air!

[IceBlueShoes]

Why is it so expensive to rent an apartment in the GTA? Outside of the GTA rent is a lot cheaper and the buildings have lots of parking. Apartment buildings in the GTA are so old and many of them are gross. Just check the bed bug registry and you will see what I mean. So why is the GTA more expensive, yet it is not in any better condition than a cheaper place outside of the GTA?

Well you'll have to decide how much your time is worth. I would rather pay a bit more and have a shorter commute.

As for bed bugs, that's what the registry is for. So you know where to avoid.

[stealth]

Yea but the apartments aren't world class. They don't even have central air!

The apartments dont have to be.

You should see the sh1thole $200. / night gets you in a hotel in Manhattan.

[cheapmeister]

The apartments dont have to be.

You should see the sh1thole $200. / night gets you in a hotel in Manhattan.

I've never seen that. What is it like?

[stealth]

I've never seen that. What is it like?

Tiny, noisy, smelly, and yes, cockroaches.

[cheapmeister]

Tiny, noisy, smelly, and yes, cockroaches.

Was it a bestwestern?

[eudaii]

is it possible to find a room in Toronto, walking distance from UTSG, for $600? when i say room i mean one that is clean and not the size of a closet
not looking forward to paying so much $ for rent :(:(:(

[IMWHFMPC]

is it possible to find a room in Toronto, walking distance from UTSG, for $600? when i say room i mean one that is clean and not the size of a closet
not looking forward to paying so much $ for rent :(:(:(

it might be possible, search on kijiji

[mysticalinfluence]

Because it's the centre of the universe did you actually think living in the centre of the universe would be cheap. If you want cheap try Ottawa or some place in BC you know the places in Canada that don't really matter.

[sandikosh]

It is only expensive if you have a low paying job.

[TinyTank]

some people just don't care how much they are paying, perhaps because their making so much or their companies are paying for it.

My dad is getting $3700 per month for a house he paid only $550 000 for in Joshua creek (oakville) a few years ago. I believe the guy is doctor who just recently got divorced. He signed a 3 year lease. lol

[SoBored]

there's abig difference in "GTA" and the downtown core

apartments in GTA are actually pretty cheap/reasonably priced for the most part. it's the downtown core that's really expensive, where a studio apt here would cost the same as a 2 bedroom in the GTA

edit - not including complete sh*tholes or rent-controlled apartments in downtown

[MrKap]

Tiny, noisy, smelly, and yes, cockroaches.

Wow, that sounds like a $550.00 a month apartment in Toronto.

Even the temporary bachelor complexes where you can pay weekly are way more expensive than that.


Oh, that's daily... whoops...

[particleman]

Blame it on the lack of new apartment construction. All the new high rises are condos. A lot of the condos end up being rented out anyways, but the people who buy the condos expect a profit on top of the high prices they paid, so they end up being rented out at ridiculous prices.

You would figure that with all the condos that are being rented out, someone would see that the demand is there for new apartments. But I guess the investors still see the long term maintenance costs making apartments unprofitable. Condo buyers, however, rarely think about the long term maintenance costs.

[koalorka]

The rent is too damn high!

My rent is $1300/month just for the leisure of not having to interact with the "urban market".

[flashy_mcflash]

http://images.memegenerator.net/instances/400x/9277514.jpg

[George W. Bush]

Yea but the apartments aren't world class. They don't even have central air!

It does not matter, we are told by the media that they are world class properties! The bankers told us so, the housing industry tells us so! We have to BUY, BUY, BUY!!!

http://cdn2.hark.com/images/000/000/900/900/original.jpg

[IMWHFMPC]

some people just don't care how much they are paying, perhaps because their making so much or their companies are paying for it.

My dad is getting $3700 per month for a house he paid only $550 000 for in Joshua creek (oakville) a few years ago. I believe the guy is doctor who just recently got divorced. He signed a 3 year lease. lol

joshua creek is not a cheap place to rent, if you look at some close to 3000 sq ft, easily in the 3700 range

[anyasok]

Its all inflated artificially, whether its the houses or the rent. These places are not worth $100 a month, let alone $700 and up. By that's ok, capitalism will keep mounting them higher and higher until the only people who can afford the rent are the landlords themselves

[silicontraveler]

There is no real good reason to live in rust town, some sort of prestige that all, it attracts the sort of greedy people. So unless your getting good money live there better pick a cheaper area of Ontario to rent, like London or Kingston.

[slowtyper]

Outside the downtown core, what are you guys paying for a reasonable apartment? Not too ghetto area.

I'm at yonge/sheppard and rent is 1260/month for a 2 br, but my apt is very old. Yeah I know you can rent basement apartments for much less but how much for a rental apt in a low or high rise?

[kamilio]

Outside the downtown core, what are you guys paying for a reasonable apartment? Not too ghetto area.

I'm at yonge/sheppard and rent is 1260/month for a 2 br, but my apt is very old. Yeah I know you can rent basement apartments for much less but how much for a rental apt in a low or high rise?

That's a great price. Which apartment building?

[slowtyper]

Lowrise apartments on oakburn crescent. we are the ghetto of this area as we are surrounded by the real houses on one side and brand new condos and townhouses just built on the other side.

I'm wondering how similar apartments are priced around the GTA.

[anyasok]

That's a great price. Which apartment building?
How's $1200 a great price? Can anyone afford it that works 40+ hours for minimal or higher wage that is by himself with no outside help? Sure, if that's ALL they spend their money on monthly!

[thrifthunter]

Location, it is the center of the universe.

[sherman51]

Guess what...Toronto is an expensive city to live in.
Want a downtown condo, a 1 bedroom that you get for $1,500 can cost the landlord $1800 in carrying costs (mortgage, taxes, maintenance fees) so they need to keep rents high to recoup the cost. As was mentioned before, no new apartment buildings are being built so only condos becoming available.
I would suggest looking for a basement apartment that can be had for $600-$800 but then I will get "I don't want to live in a basement apt".
Rents are becoming expensive everywhere because the city of Toronto and province of Ontario keep screwing over landlords who want to rent the second floor or basement of a house with dumb regulations and protect the tenant til the landlord bleeds to death. You decide not to pay your rent, on average it will be 6 months before you are evicted. So instead, landlords sell off these homes and turn them back into single family dwellings.
Less supply, higher rents.
Head outside of the city, Cambridge rents are $1000 for a nice one bedroom or $1500 for a 2 bedroom but nobody wants to commute from that far.
As someone else pointed out, time is money and a shorter commute is worth the extra dollars in rent.
People who can only have a minimum wage job should not live in Toronto...minimum wage is the same all over Ontario. You can buy a whole house in Parry Sound for $200,000 and rent for $800 for a 2 bedroom but everyone wants to live in Toronto...hence the high rental costs.
Long answer but I am so sick of people bellyaching about how expensive it is to live in Toronto.
Nobody is forced to live here, if you can't afford it...leave!

[hehehaha]

is it possible to find a room in Toronto, walking distance from UTSG, for $600? when i say room i mean one that is clean and not the size of a closet
not looking forward to paying so much $ for rent :(:(:(


i know someone rented a room in Bathurst/College for $300/month, a single bed with a table

[AnimeEd]

How's $1200 a great price? Can anyone afford it that works 40+ hours for minimal or higher wage that is by himself with no outside help? Sure, if that's ALL they spend their money on monthly!

To be fair though, a single person making minimal wage shouldn't be living in a 2-bedroom apartment in the middle of Toronto.

[xvizardx]

The Toronto subways might be a good place to sleep if you cannot afford rent. :)

It's FREE too!

[Supercooled]

Ive stayed in one. it was around $25 night and the bedseets looked like they were last cleaned in the 70s. Its like those episodes of Nypd blue where they break into a guys roon andsees himo the floor passed out with a k eedle sticki g outof his arm.


One bed with enough room to kindofmNeuver around to accesstbedoor.

Theaeare likely used forhooking and god knows what else.. Poverty is so devastatkngto witness.


The apartments dont have to be.

You should see the sh1thole $200. / night gets you in a hotel in Manhattan.

[Supercooled]

Look foe a basement apt. some can be quite livable provided the upstair tenantsare respectful. get what you pay foe and your budget is right.

[Supercooled]

Minimum aage and single you are lucky to rent a bSement and still have enough for food. seriosly.. Live within your means.