Is the 30% rule a myth for Toronto renters?

Posted by reader_magic • October 19, 2025 • 7 comments

I'm feeling overwhelmed trying to budget for rent in Toronto. With 1-bedroom prices often hitting $2400, how can I possibly afford that on a $60k salary? Spending more than 40% of my income feels unsustainable, and the 30% rule seems impossible to follow. Is anyone else struggling with this?