Nationally, Toronto often ranks as either the first or second most expensive city to rent in, and globally it is ranked 21 out of 293 cities according to the Demographia International Housing Affordability Survey. Over 47 percent of renters in Toronto are spending more than 30 percent of their income on rent, in part due to the assumption that an individual is expected to earn at least 40,583 dollars a year in order to afford to live in this city.
In addition to often being unable to work enough hours to even come close to earning 40,000 dollars a year, students also have to bear the financial weight of tuition, textbooks, and other living expenses. Furthermore, even those students who have the financial means to afford living downtown often have difficulty finding a place. Those familiar with searching for housing know the importance of timing and luck; there are often multiple candidates competing for the same unit, and being just an hour late can make the difference in securing a place to live.
As a result, many students in Toronto have no other choice but to commute. A survey done by StudentsMoveTO found that a third of respondents spent two or more hours per day commuting. Students with longer commute times were more likely to pick courses based on their commute and less likely to be involved in extracurricular activities. The unreliability of public transportation, long hours, lack of choice, and lack of involvement on campus takes a toll on the mental health, university experience, and grades of many commuters.
While living on residence is very convenient and is guaranteed to all first-years, it comes at quite a cost. A double bedroom in Margaret Addison Hall is 8,593 dollars, in addition to a mandatory meal plan that costs around 5000 dollars. Students who live too far to commute but cannot afford to live on residence often have to make difficult choices. Many students must obtain part time jobs that take away from time studying, extracurricular activities, and socializing with friends. As well, many have to choose between saving money or living in a safe area, which is especially al risk for women and LGBTQ+ students.
“While I do save money by commuting, it often feels unfair because I lose a lot of time that could be otherwise spent in labs or doing homework that gets lost to transit,” says Gloria Rebello, a third year student who lives in Scarborough.
There are several causes that lead to the high cost of rent in Toronto, some common among all metropolitan cities, while others more unique to Toronto itself. Compared to less populated areas, Toronto has better public transit and homes which are closer in proximity to many goods, services, and jobs. In addition, foreign investors frequently drive up the cost of rent by flipping properties and locals are often unable to compete with these wealthy investors from foreign countries. While measures such as the Foreign Buyer’s Tax and Ontario’s Fair Housing Plan have been introduced, they have not made a significant impact. Toronto, as Canada’s most regulated city, has longer approval times, and many of the city’s new developments are condos, which slows down the rate of new units getting completed.
John Tory, the current mayor of Toronto, aims to create 40,000 affordable rental units in the next 12 years. He promises to keep property taxes at or below current inflation rates in order to make it easier for young people to purchase new homes. As well, he plans on building on city lands that have been declared surplus, and providing incentives for developers to build on these lands in exchange for securing a percentage of affordable units in these new buildings. Jennifer Keesmaat, one of Tory’s major competitors in the upcoming mayoral election, promises to create 100,000 affordable rental units in the next 10 years by developing a program to build housing on city owned lands beyond those labelled surplus, such as TTC stations and parking lots.
While there are varying opinions on both the causes of and solutions to Toronto’s housing crunch, what is inarguable is that this is a severe problem that will only get worse unless action is taken. However, students who feel lost and powerless in a cold market can still make their voices heard. It is important to do research, know your rights as tenants, and to vote in the upcoming October election in order to make the best-informed decision about your future.
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