Average rent prices in the GTA rose 4.9 per cent over the last year.
Average rents grew by 2.5 per cent, amounting to about $30 more per month.
The province has a rental vacancy rate of 1.4 per cent.
In the Greater Toronto Area, monthly rents rose by $63, on average.
Horgan government will spend $492 million on 4,900 subsidized rental units.
On average, it takes one-and-a-half years before builders can break ground in Toronto.
City hall can reduce the cost of building new apartments on expensive lots by zoning for greater density.
The Horgan government now says it will peg allowable rent increases to inflation, estimated at 2.5 per cent for 2019.
The owners of 67,000 lots currently zoned for single-family housing can now rebuild their homes as duplexes.
The imbalance between the number of available units and the number of would-be renters drives up rents.