Here’s how much home prices have changed compared to rental prices in Toronto

Home prices in Canada have become unaffordable for some buyers, leading them to consider renting instead. However, rental prices have also been steadily increasing. A study compared average sale prices and rental prices over the past five years and found that rental prices have increased at a greater pace than sales prices nationally. In Toronto, sale prices have increased faster than rent prices. Halifax had the highest increase in sales prices, followed by Montreal and Toronto. Vancouver, Montreal, and Calgary had the highest increase in rent prices.