Accommodation in Toronto
Perhaps best known for its vivid assortment of neighbourhoods and living options, expats may nonetheless find that securing affordable residential accommodation in Toronto can be a challenge.
Toronto considers itself a “big city made up of little neighbourhoods”: Greek Town, Chinatown (all six of them!), Little India, luxurious Rosedale and gritty Kensington Market, to name just a few. While each neighbourhood boasts its own distinctive, thriving and evolving history and culture, they all still welcome everyone from all walks of life, especially newcomers.
For most cities it is the case that the closer to the city the property, the more expensive the rentals become. This is only partly true of Toronto. While luxury condominiums dot the skyline, there is a large immigrant population living in sub-par housing within the city’s core. This creates a striking contradiction where multi-million dollar condos reach upward next to homeless shelters that can appear to be near collapse.
This uneven distribution of wealth means that there are apartments available for people from all walks of life almost anywhere in the city. While the districts in the west and north have some extremely expensive properties and rentals, there are plenty of townhouses, high rises, and small houses in and amongst them from which to choose.
Whether you are purchasing or renting, there is a great variety of accommodation available in Toronto. One can find anything from a bachelor condo to a luxury detached home. Keep in mind that though it's possible to find nearly any type of accommodation in any given area of Toronto, some areas are more commonly associated with certain accommodation features. For example, accommodation on the periphery of Toronto is more likely to come with green space and ample parking opportunities.
Both furnished and unfurnished accommodation is available in Toronto but typically, most rentals are unfurnished, unless specified otherwise, and most purchased properties are unfurnished. Do realise that even if an apartment is marketed as unfurnished, it still most likely includes a few basic appliances (refrigerator and stove). Newer unfurnished accommodation may even include a washing machine, tumble drier, dishwasher and microwave.
The best way to find accommodation in Toronto is by perusing the plethora of online listings.
Popular Rental Listings in Toronto
Additionally, the Toronto Star and the National Post offer classifieds.
Real estate agents can also be incredibly helpful, as they're familiar with the market and the logistics surrounding leasing and negotiations. In many cases, these agents host listings on their company web sites as well.
While housing prices in Toronto vary from neighbourhood to neighbourhood, keep in mind that Toronto is one of the most expensive places to live in Canada – and indeed the world. The high cost of housing and related daily expenses plays a large role in that not-so-flattering distinction.
A Toronto Real Estate Board report in June 2011 noted that the average resale price for a condo in the Greater Toronto Area was 326,750 CAD, while the average detached home went for an average of 599,208 CAD.
Additionally, parking spots downtown are hard to come by, which explains why the cost of a condominium parking spot at a new luxury condominium development will add 100,000 CAD to the unit’s already staggering price tag.
Renting is more affordable, although the vacancy rate usually hovers around only 2 percent.
The Canadian Mortgage and Housing Corporation provides an excellent guide to "Renting in Ontario", with legal and other advice that will apply to Toronto tenants.
Toronto considers itself a “big city made up of little neighbourhoods”: Greek Town, Chinatown (all six of them!), Little India, luxurious Rosedale and gritty Kensington Market, to name just a few. While each neighbourhood boasts its own distinctive, thriving and evolving history and culture, they all still welcome everyone from all walks of life, especially newcomers.For most cities it is the case that the closer to the city the property, the more expensive the rentals become. This is only partly true of Toronto. While luxury condominiums dot the skyline, there is a large immigrant population living in sub-par housing within the city’s core. This creates a striking contradiction where multi-million dollar condos reach upward next to homeless shelters that can appear to be near collapse.
This uneven distribution of wealth means that there are apartments available for people from all walks of life almost anywhere in the city. While the districts in the west and north have some extremely expensive properties and rentals, there are plenty of townhouses, high rises, and small houses in and amongst them from which to choose.
Finding accommodation in Toronto
Whether you are purchasing or renting, there is a great variety of accommodation available in Toronto. One can find anything from a bachelor condo to a luxury detached home. Keep in mind that though it's possible to find nearly any type of accommodation in any given area of Toronto, some areas are more commonly associated with certain accommodation features. For example, accommodation on the periphery of Toronto is more likely to come with green space and ample parking opportunities.
Both furnished and unfurnished accommodation is available in Toronto but typically, most rentals are unfurnished, unless specified otherwise, and most purchased properties are unfurnished. Do realise that even if an apartment is marketed as unfurnished, it still most likely includes a few basic appliances (refrigerator and stove). Newer unfurnished accommodation may even include a washing machine, tumble drier, dishwasher and microwave.
The best way to find accommodation in Toronto is by perusing the plethora of online listings.
Popular Rental Listings in Toronto
- Viewit.ca
- Toronto.kijiji.ca (this is like an online classified)
- Torontorentals.com
- Renters.ca (best for those looking to buy property)
Additionally, the Toronto Star and the National Post offer classifieds.
Real estate agents can also be incredibly helpful, as they're familiar with the market and the logistics surrounding leasing and negotiations. In many cases, these agents host listings on their company web sites as well.
Property prices in Toronto
While housing prices in Toronto vary from neighbourhood to neighbourhood, keep in mind that Toronto is one of the most expensive places to live in Canada – and indeed the world. The high cost of housing and related daily expenses plays a large role in that not-so-flattering distinction.
A Toronto Real Estate Board report in June 2011 noted that the average resale price for a condo in the Greater Toronto Area was 326,750 CAD, while the average detached home went for an average of 599,208 CAD.
Additionally, parking spots downtown are hard to come by, which explains why the cost of a condominium parking spot at a new luxury condominium development will add 100,000 CAD to the unit’s already staggering price tag.
Renting is more affordable, although the vacancy rate usually hovers around only 2 percent.
Cost of Average Toronto Housing (2010)
- Bachelor/studio: 777 CAD
- One bedroom: 949 CAD
- Two bedroom: 1,123 CAD
- Three bedroom: 1,322 CAD
The Canadian Mortgage and Housing Corporation provides an excellent guide to "Renting in Ontario", with legal and other advice that will apply to Toronto tenants.
