A SINGLE DILEMMA
Toronto’s rental market is out of control. And it’s even worse if you’re alone,
A favourite pastime of mine is posting rental listings of beautiful, character-filled apartments in other cities (Pine floors! Crown moulding! A fireplace!) on Facebook, flanked by weeping emojis.
Finding an above-ground apartment in an urban neighbourhood in Montreal, Halifax or even Chicago for under $1,000 a month is a breeze. In Toronto, it’s practically the stuff of fiction. Things are financially tight for many in this city, but single people — especially single parents — are at a serious disadvantage. The average rental cost of a one-bedroom condo in Toronto is nearly $1,800 per month. Finance gurus suggest spending only 30 per cent of your total income on rent. Sticking to that rule, a single renter would have to be earning upwards of $65,000 a year. According to Statistics Canada, the average annual income for individuals living outside of an economic family (i.e. a single person) in Toronto in 2014 was approximately $40,000 before taxes.
“Young and single tenants face a terrible situation in the city right now,” says Geordie Dent, executive director of the Federation of Metro Tenants’ Associations. “A low vacancy rate means that people are struggling to find any place to rent, much less an affordable one. It puts them into debt or unsustainable living situations. Many young folks don’t know their rights and single folks have few others to lean on for support.”
Getting a roommate is often the only realistic option for singles in Toronto, but roommates come with their own unique set of challenges. Especially for people in their 30s, 40s and beyond. The Golden Girls had it figured out, but not everyone wants to spend their twilight years eating cheesecake on the lanai (it sounds decent until you factor in shower schedules, arguments over chores and splitting fridge space four ways).
When you don’t have a partner with whom to split rent, hydro, Internet and groceries, living expenses can really add up.
Christy Dukitsch, 38, is one of the luckier ones. The senior administrative assistant lives in a (borderline) affordable apartment in a vibrant neighbourhood. Still, she realizes she’d be better off financially were she coupled up.
“Two incomes are usually better than one,” she says. “I could manage half of my rent much easier than the full amount I am paying now. Also, many couples own property, and if you play your cards right, a mortgage can be much less than rent.”
Considering the white-hot real estate market, buying property as a single person in Toronto today is nearly impossible without a high-paying job and/or substantial family help.
“I will likely never be able to save a down payment and purchase property on my own,” Dukitsch says.
“I might as well grab a few more cats since I will likely be renting for the long haul,” she jokes.
The recent provincial announcement is no panacea for Toronto’s rental and real estate markets.
“The Ontario government is taking some small steps to address the crisis, but I would say it’s a bit like bringing a bucket of water to a major fire and claiming you have things under control,” says John Clarke of the Ontario Coalition Against Poverty. “‘Foreign buyers’ make a convenient target for those who are always happy to pin blame elsewhere. The improved rent controls are too little, too late.”
Even if you’ve somehow landed an affordable Toronto apartment, there’s no guarantee of housing stability.
In the past year, half a dozen friends of mine have been handed N12 notices from their landlords, meaning they’re forced to move out in order to accommodate the landlord — or the landlord’s immediate family member — moving in. Invariably, the units are swiftly renovated and back on the rental market within three or four months with fresh new floors and shiny new appliances, ready to be rented by another tenant for close to double the price. The former tenants have little recourse and are often forced to move into pricier digs, taking a substantial financial hit.
“Without major public investment in housing, rather than token measures and hasty improvisations in response to crises, the situation will remain decidedly bleak,” Clarke said.
And if you’re a single renter, things are always going to be twice as hard. Sofi Papamarko is a writer and the founder of Friend of a Friend Matchmaking, friendofafriendmatchmaking.com. Reach her at facebook.com/sofipapamarko
Getting a roommate is often the only realistic option for singles, but they come with unique set of challenges