“Outrageous” housing costs have people packing up and leaving the city.

April 29, 2024
It’s a challenging time to be searching for a new place to live in Toronto. With soaring rent prices and the dream of homeownership out of reach for many young people, the housing crisis continues to impact residents deeply.

Downward Trend in Rent Prices

Despite the grim outlook, renters are experiencing a slight reprieve. For the third straight month, rent in the city has decreased. Compared to a year ago, prices have dropped by 1.3 percent. However, this relief is tempered by the fact that the average rent still hovers close to $2,800. For those seeking a one-bedroom unit, the cost is approximately $2,500.

Leaving the City

So, what are residents doing in response to these high costs? According to a CTV News report, some Torontonians are deciding to leave the city in search of more affordable living options elsewhere. This trend highlights the extent to which the housing crisis is affecting people’s lives and decisions. (Full disclosure: My day job is with CTV News.)

Personal Stories

The article shares personal stories of individuals who have moved away and found happiness in their new surroundings. One resident expressed, “We took a giant risk and left everything we’d known, left our friends and some family, to start a new life. I would never, ever, ever, ever go back to Toronto. Life is too short to spend it living like that, it’s not worth it.”

The housing crisis in Toronto continues to push people out of the city. While a slight decrease in rent prices offers some relief, the overall cost of living remains high. As more residents consider leaving the city for more affordable options, the impact on Toronto’s community and economy will be significant.

This story is a revised version of an article that originally appeared in Vital Signs.