The population of Toronto is growing rapidly and goes beyond what the city is currently able to accommodate. Despite new investments in infrastructure, the city is struggling to cope with the influx of residents. But Toronto’s population is growing faster than anywhere else in Canada and even faster than anywhere else in North America.
Today, 3 million people live in Canada’s largest city. Toronto’s population has increased by 77,435 new residents over the past year, a significant increase overall other North American cities. This is three times more than in the second fastest-growing city in North America – Phoenix, Arizona. Researchers conducting the analysis called Toronto’s growth rate “staggering.”
Population growth in Toronto
For comparison, in 2018, the population of Moscow increased by almost 100 thousand and reached 12.6 million people.
Urban planning experts warn Toronto residents that in the near future they may need to make room and share housing with friends or relatives as the city’s population exceeds the housing supply.
Researchers fear that there is a risk of a serious housing crisis in the city. In particular, in the Greater Toronto Area, the situation with housing in the early 1990s may repeat, when house construction declined due to a sharp drop in housing prices, despite the fact that the population continued to grow. This led to the fact that several generations of the same family lived in the same house. It is possible that the city will again be in a similar situation.
The Ontario housing market has already dipped this year – the number of new construction projects has fallen by 15%. A significant increase in Toronto’s population can also damage public transport. Residents are already worried that public transport is not coping well enough with the load.
Note that Toronto is growing faster than Los Angeles, where only 8,454 residents have grown in a year, and faster than New York, which is experiencing an outflow of residents, on the contrary, its population declined by 39,523 people in a year.