this post was submitted on 30 Aug 2023
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Canada's landlords now asking a record-breaking average of $2,078 per month: rental report (www.ctvnews.ca)
submitted 1 year ago by [email protected] to c/[email protected]
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According to a new report from Rentals, In July, the Canadian rental market hit a record high with an average asking rent of $2,078, marking an 8.9 per cent annual increase.

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[–] [email protected] 25 points 1 year ago (1 children)

People are spending most of their income on housing

[–] [email protected] 7 points 1 year ago* (last edited 1 year ago) (1 children)

I'm American, but I can't find a place to rent that doesn't demand an income of 3x rent. Is that not a thing in Canada?

[–] [email protected] 2 points 1 year ago

When I was renting, places were looking the combined income of everyone living there (and any personal guarantor(s)) was at least double the rent, or that you had a long rental history that showed that you could pay.