Should you rent or buy in the Greater Toronto Area?

may have some homeowners in Toronto recalculating their finances while renters wonder what this means for their future monthly payments.

analyzed data from the Toronto Regional Real Estate Board to compare monthly rent and mortgage payments in 27 Toronto regions.According to Zoocasa, the city with the most expensive average rent in the GTA is Brampton at $3,263 per month, based on rates from the first quarter of 2023. There, the price of the average house will set you back $847,527 and monthly mortgage payments will cost $3,920.Rental prices in Orangeville are slightly higher than those in Georgina, Ont. at $1,663 per month, however.

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