Studies suggest Toronto’s rental shortage will skyrocket in coming years

A new report suggesting the Greater Toronto Area could be facing a shortage of 200,000 rental apartments within a decade is highlighting the conundrum of a region that is building more high-rise apartment buildings than anywhere else in North America but still has a stubbornly unaffordable housing market.

The report – prepared by real estate research firm Urbanation Inc. for the Federation of Rental-Housing Providers of Ontario – says rapid population growth in Ontario means the rental market needs to expand faster than its current capacity: “42,000 units [need] to be built annually during the 15-year period from 2017 to 2031, but will be delivering approximately 21,000 units per year, resulting in a shortfall of over 20,000 units per year.”