Elliot Kelly is “rent poor,” stuck spending more than he wants to rent a semi-detached home in Toronto’s midtown because he can’t find an affordable three-bedroom condo.
The father of four says his family made the move from the Ajax home they own to shorten commute times and give them more walkability in a community they love. But even if they sold their townhome worth nearly $1 million, they can’t foot the bill.
For many months, Kelly says all the suitable condo listings he’s seen in Toronto’s midtown neighbourhood are more than $200,000 above what the family can afford. As a result, he says the family is “living paycheck to paycheck” paying rent.
