""This was the highest level of rental vacancy that Toronto has seen since the pandemic and it's a pretty big departure from what the Toronto rental market is used to.""
""If you look at the average over the last 20 years, rental vacancy rates in Toronto have been mainly below two percent. So this is a pretty big shift in rental market conditions.""
""Softening market conditions have some landlords offering incentives to prospective tenants, such as two months of free rent and cash 'move-in' bonuses.""
The Greater Toronto and Hamilton Area has seen a rise in rental unit vacancies, reaching a five-year high of 5.4 percent in early 2026. This increase is attributed to declining demand from population growth and economic challenges, alongside a surge in supply from new condo projects. The availability rate, including both vacant and occupied units with notice to vacate, has also hit a record high of eight percent. Landlords are responding by offering incentives like free rent and cash bonuses to attract tenants.
Read at www.cbc.ca
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