Greater Toronto Area Rents Expected to Spike
The GTA is set for another massive hike in rent in 2022. According to multiple rental platforms, rent in Toronto will likely see an average increase of 10-11%. That leaves the average Toronto rental price at $2,495.00/month. The expected 2022 annual rent increase remains in-line with 2021, which came in at 10%.
In nearby Mississauga, the annual rent increase is expecting to hover around 7%.
These increases matchup with the soaring prices of houses in the Greater Toronto Area, with Toronto and Mississauga some of the priciest cities in Canada.