The Greater Toronto Area's purpose-built rental vacancy rate rose to about 3% in 2025, driven by lower international student enrollment and condo competition. Central and east Toronto saw slight vacancy declines, while north and west Toronto experienced increases. Average two-bedroom rental costs rose 3.5% to $2,034, while condo rents averaged $2,904 with a 1% vacancy. Areas near post-secondary institutions saw higher vacancies, linked to reduced student visas.
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