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Population Boom Is Turning Toronto Rental Market Into Nightmare

  • Rents spike 17% in third quarter with vacancy rate at 0.5%
  • ‘We’re at a crisis and we don’t even it realize it.’
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Photographer: Brent Lewin/Bloomberg
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Debbie Ross has the same chance of snagging an affordable apartment in Toronto as she does picking a long-shot at the Kentucky Derby.

Ross is hoping to win one of 75 rental apartments in a lottery run by the city’s public housing agency. She’s up against 3,779 others, so the odds of winning are only about 50:1 but figures it’s as good a chance as any of finding a place to live.