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Toronto is the 11th most affordable rental city out of the world's top 30 cities to live in, according to a new report from RENTCafe, a nationwide apartment search website.
The blog used a PwC report identifying the top 30 cities in the world to live and work in, based on financial, infrastructure and cultural identifiers. It then compared those figures with the local median incomes to see just how affordable these cities were.
In Toronto, rent represented only 29% of income. Compare that to Manhattan, ranked 29th, where renters spend 59% of their income on housing.
The best rent-to-income city was Kuala Lumpur, Malaysia at 20%, followed by Moscow (21%). Worst on the list was Mexico City at 60%.
With the exception of Toronto, North American cities finished in the bottom third, with Chicago (20th, 38%), Los Angeles (27th, 47%), San Francisco (23rd, 41%) and Manhattan (29th, 59%) making appearances.
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