Toronto was just named one of the top 10 most ‘impossibly affordable’ cities in the world

Toronto residents struggle with high living costs as the city is ranked among the least affordable globally by the Urban Reform Institute. Housing affordability in Canada, especially in Toronto and Vancouver, has sharply declined since the mid-2000s. Toronto's income-to-home price ratio is 9.3, making it the tenth toughest city financially. The study assessed nearly 100 cities, with Hong Kong, Sydney, and Vancouver leading the list. The institute highlights the worsening real estate affordability in Toronto, impacting middle-income households.