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by rpeden 2890 days ago
Not in absolute terms, but it's closer when you compare housing cost vs compensation, I think.

The cost of rental housing has jumped up quite a bit recently, too. When I was looking for a place to live in 2015, I saw quite a few condos for rent right downtown for $1700-1800 a month. Now I see units in those same buildings renting for $2300 a month and up.

Still cheaper than SV, I suppose? And if you don't mind a bit of a commute, you can find more affordable accommodation.
2 comments
parthdesai 2890 days ago
Yup, all the new building (buildings built after 1992) weren't under rent-control. Since last year, they now are under rent-control which means landlord can only increase rent by 1.7% every year, which is why you saw that jump in rent. Not leaving my condo until i manage to buy my own place, which is going to be very difficult as well.
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mthoms 2890 days ago
> Not in absolute terms

Well no-one is saying that Toronto is better than SV "in absolute terms" either. Just that more tech jobs were added.

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