Toronto Rental vacancy rises to the highest level since 2015, despite population boom.

Original article via Better Dwelling. Click here to read.

Toronto’s population growth is booming, but so are rental vacancies. Canada Mortgage and Housing Corporation (CMHC) data shows primary rental vacancies climbed in 2019. The rate is now at the highest level since 2015, as vacancies climb from decade lows just a couple years ago.

Toronto’s primary rental market is seeing vacancy rates climb to levels not seen in a while. The average vacancy came in at 1.5% in 2019, up a massive 25% from the year before. This is now the highest level since 2015, but still kind of low. However, Toronto has always been a tight primary rental market.

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