hit a record-high in July of $2,078 per month, an 8.9% annual increase. Compared to July 2021, rents have risen 21%. Locally, a one-bedroom apartment in Toronto costs upwards of $2,500 per month; in Vancouver, it’s over $3,000.
In order to restore affordability to the market, Canada needs to build two million purpose-built rentals between 2024 and 2030. The figure is courtesy of, which details 10 recommendations the federal government can adopt in order to achieve the target. Forty percent of respondents to Leger’s survey blamed the federal government for the housing crisis, while 32% blamed their provincial government. Just 6% laid responsibility for the crisis on their municipal government. Homeowners were more likely to criticize the feds , while renters believed their provincial leaders were culpable .