National rents just dropped 4.8% year over year — the 23rd straight month of declines
National rents just dropped 4.8% year over year — the 23rd straight month of declines. But look closer at Toronto and the story flips: overall rents are down just 1.4%, while 3-bedroom units are actually up 3.5% annually.
Purpose-built rentals are also proving way more resilient than condos right now (-3.3% vs -7.7%).
If you’re underwriting Ontario multifamily off the national rent narrative, you’re using the wrong data.
#OntarioRealEstate #MultifamilyInvesting #TorontoRentals #CRE