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5 neighbourhoods with overpriced rent in Toronto

Posted by Derek Flack / February 14, 2016

overpriced rent torontoRent is expensive everywhere in Toronto. It's just a fact of life in a cosmopolitan city with the fiery hot real estate market. While there are certainly some neighbourhoods to target for cheap rent, the same holds true of the reverse: some areas in Toronto are notorious for inflated rental rates.

Here are five nieghbourhoods with overpriced rent in Toronto.

The Annex
The Annex is a great neighbourhood -- particularly for those affiliated with U of T -- but it sure ain't cheap. With numerous bachelor apartments coming in at $1000 in property-managed buildings on St. George and $1200+ common for one-bedroom basements, you can do much better elsewhere.

Yonge and Eglinton
A neighbourhood doesn't get the nickname young and eligible without due reason. This transit-friendly neighbourhood is well-stocked with rental units, but you're going to have to spend if you want a nice space. One-bedroom condo rentals above $1750 are common, as are $1200+ bachelor units.

King West
Part clubland and part condoland, King West is a place for those who are happy to dig deep on their monthly rent. While there are plenty of one-bedroom units in the $1500 range, rent at the swankier condos and remaining historical homes in the area is inflated. $2000+ for a single bedroom is a bit silly given all the other neighbourhoods with excellent amenities and cheaper rent.

No surprise here. Apartments in proximity of the Mink Mile might be the most overpriced in the city. Yes, most of the units here boast walk scores of 99+ and the neighbourhood is touted as one of the city's most exclusive, but does anybody ever want to pay $5,000 on monthly rent? Come on.

It costs money to live right on the water. As such, you won't find too many deals on the rental units available in the condos that line Queens Quay. Bachelors are particularly expensive here with many coming in at more than $1250 per month. And while there's more dining options than ever before, you're still living in the heart of tourist country. No thanks at that price.

What neighbourhood(s) did I miss? Add your suggestions in the comments.

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