Finding a place to live is one of the most important and one of the most challenging tasks that face any newcomer to Canada. Finding housing that is suitable for your needs and within your budget can seem overwhelming, but this guide will introduce you to some resources to help you find the perfect home for you and your family.
Financial Assistance with Housing
Housing can be a huge financial burden on many families. Financial experts advise that you spend no more than 30% of your income on rent per month; however, this is impossible for many people considering the high rental prices in Toronto and Ontario. According to Apartments.com, the average monthly rent as of February 2024 in Toronto is $2,055. This is an insurmountable cost for many people. Fortunately, there are several ways to access financial support and assistance in paying rent, as well as to minimize your base rental costs.
The most obvious solution to high rental costs is to look for an apartment in a cheaper area. Many suburbs of Toronto have significantly cheaper rents than downtown and are accessible by transit. Although it may mean your commute to work or school is longer, living in a suburb like Brampton or Vaughan instead of downtown Toronto could save you hundreds of dollars every month.
One of the best solutions for people looking for affordable housing is Toronto’s Rent-Geared-To-Income Housing program, which provides housing at a cost of no more than 30% of your family’s annual income. Unfortunately, this program has huge waiting lists, and it can take as long as 10 or 15 years to receive a housing offer. However, if you are a survivor of family/domestic abuse or trafficking, are homeless, or are 16 or 17 years old, you are eligible for priority in the waitlist and may receive housing much sooner. Although the wait times are very long, it’s worth applying to this program if you are eligible because it is one of the only guaranteed long-term housing solutions for low-income people.
Another program offered by the city is the Affordable Rental Homes program, which partners with private companies to offer some lower-cost rental opportunities in their buildings. You can find an updated list of current affordable housing opportunities on the program’s website.
Toronto Community Housing also lists current openings in their subsidized housing program. However, these openings are extremely rare, and there is a very long waitlist for when they become available.
If you are not able to access subsidized or affordable housing through a government program, there are several other organizations and programs that may help you pay your rent or utility bills. You can find a list of these programs, and how to access support, on the City of Toronto website. You can also talk to your KMC counsellor, and they will help connect you to these and other resources.
Finding an Affordable Rent in Toronto
There are many online resources that can help you find an affordable place to rent in Toronto. Some of the most popular places to find housing include Craiglist, Rentals.ca and Apartments.com. Settlement.org also lists many more rental tools and sites. Each rental search site will have some of the same listings, but available apartments will vary depending on what site you are using.
When looking for housing online, you should be extremely careful to avoid being scammed. The University of Toronto has an excellent guide to common rental scams and how to protect yourself.
Some of the terminology in rental ads may be unfamiliar to you, and it’s important to understand what is being offered by each apartment and what you will get in exchange for your monthly rent. Settlement.org also has guides in understanding common terms in rental advertisements and listings.
When you are looking for a rental home, and once you sign a lease, you have many legal rights. Our guide to tenant’s rights is a brief introduction to some of the laws that protect you while you’re looking for and renting a home.
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