Rent in Toronto is expensive, in fact it’s often the second most expensive rental market in Canada.
But it turns out, Toronto is also quite expensive when compared on a global scale, and when measuring the cost to space ratio.
A recent report by RENTCafé looked at rental markets in the 30 most magnetic cities around the world, and what you can get in each for $1500 per month.
According to the report, they base the “magnetic cities” on the Mori Memorial Foundation’s Institute for Urban Strategies which ranks each in terms of their attractiveness, based on six main criteria: economy, research & development, cultural interaction, livability, environment, and accessibility.
Toronto is listed as the second most expensive city in Canada, with $1500 getting you a 674 per square apartment, compared to Vancouver which gets 610 square ft.
The comparison also shows that for $1500, you can get a place in Berlin that’s more than double the size that of a place in Toronto.
As for the most expensive city in the world? Manhattan, of course.