Average Condo rent in Toronto reaches $1,856/month

 Average rent for condominiums in the Toronto area were pushed to a record $1,856 per month, says a new report by condo research firm Urbanation.  

For the first time in a long time, we’re seeing rent levels grow stronger than resale and new condo prices - Shaun Hildebrand, senior vice president of Urbanation

With monthly rent approaching the $2000 mark, it is making more and more sense for many first-time buyers to consider locations further out from the city core - a boon to the York Region housing market.  We continue to see strong sales in Markham - especially in the 'Cornell' area.

More from the Toronto Star