Rent in Toronto?
Moving to Toronto to start full time at one of the Big5 at the end of the summer and was wondering how much would be reasonable to pay for rent. I went to a school in the prairies so my network in Toronto is not huge in terms of asking friends for places to sublet.
Ideally I want to stay in a place close to downtown or within a 20 minute commute, but looking at sublets for roommates online it seems many places are in the $1,700 - $2,000 range. So I am trying to decide if it is worth it to just pay $2,100 - $2,300 per month for a bachelor studio (keep in mind it wouldn't come furnished + most places I would have to pay for wifi and hydro).
Any insight is appreciated.
I left Toronto a while ago because of CoL and mainly rent. It is very high and keeps climbing.
A decent apartment close to downtown (1 occupant) went for 2,400-2,750 CAD a while ago.
Larger apartments that can be shared were about 2,800-4,000 - depending on size/number of roommates.
Toronto isn't too large and commute generally works well. If you are willing to be outside of The6 you can save a bundle.
I agree the COL for what you get + how much we get taxed in the city is ridiculous. My preferences though is I would rather live in the city and I know that I will have to pay a premium to do it.
I’m just trying to rationalize whether or not paying that much for a one bedroom is worth it and if other people have done something similar
I left all over Toronto, in the city, outside, and miles away (Lake Simcoe) /w driving in.
1) if you like to go out, clubbing, have many friends in the city, you are early in your career, and maybe single.. yeah, then do it. worth the time/costs you will save. you don't need a car and can meet up with anyone around the corner.
2) find middle ground. Maybe you do want to save a bit more of your income so you will eventually have a down payment. At some point you would have to buy something if the goal is to stay in this location for a longer time. commuting within Toronto is reasonable and not that bad.
I don't recommend moving far outside of Toronto unless you WFH permanently. The nicer areas and bigger homes are far outside, of course. Toronto itself isn't really affordable for most people.
Thank you for the response. I will be in the office 3-5 days per week so I think it would be best to stay close in terms of commuting distance.
Just one bit I forgot to mention:
My apartment came furnished in Toronto. It was a massive advantage as I no longer live in Canada and didn't want to get any furniture.
Best of luck in finding something cool.
Finding a one BR that’s along the line 1 subway line should be fine. Pay the premium to live downtown, there’s a lot of shitty areas of Toronto that I personally wouldn’t want to live in.
Alternatively, you could find something that’s on the lakeshore GO line and commute in that way, but it’s much more expensive compared to the subway obviously.
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It's not that they're dangerous or anything, but outside of the core and certain neighborhoods it's mostly just low density single family housing. It's crazy how you can step outside a subway station and might as well be within the suburbs. The only areas I would say to "avoid" are around Moss Park, Yonge-Dundas square, and the area bounded by Gerrard - Queen and Jarvis - Parliament...and Liberty Village, because it sucks.
The problem with the GTA is that housing doesn't really get much cheaper as you move further out. I'm a big fan of the West Side in general and if you're close enough to King, can hop on the streetcar and get to the core pretty easily.
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