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What does $1,500/month in rent get you in Toronto?
Not much, but a lot more than in Manhattan, according to a new report from rental researchers RENTCafé.
According to the study, a Toronto renter can expect 674 SF for $1,500. That places the city at No. 12 for rent value among the 30 international cities ranked. By comparison, Vancouver placed No. 15 on the list, with an average of 610 SF.
For those wanting the best rental bang for their buck, Istanbul topped the list. In the Turkish city, $1,500 will rent 1,899 SF, followed closely by Shanghai at 1,705 SF. Berlin placed third, with an average of 1,500 SF.
Farther down the list was Los Angeles, which finished at No. 20 with 530 SF, Paris (No. 25, 321 SF) and San Francisco (No. 27, 316 SF).
London and Manhattan rounded out the list as the two least-affordable cities ranked. In London, $1,500 will rent 301 SF, while Manhattan brought up the rear with 277 SF. That’s one-seventh the size of what you can expect in Istanbul.
The RENTCafé study was compiled with the help of parent company Yardi Matrix. It used the Mori Memorial Foundation’s Institute for Urban Strategies’ ranking of the world’s most magnetic cities, based on economy, research and development, cultural interaction, livability, environment and accessibility.
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