Across Ontario, average rents have risen 27 per cent from 2016 to 2021, according to the Canadian Rental Housing Index, released Monday.
In Ontario, the average rent and utilities was $1,406 in 2021, up from $1,109 in 2016. Meanwhile, the average renter household income was $72,400 compared to $53,691 in 2016, an increase of 25 per cent, although since the data comes from the 2021 census, when some pandemic supports were still in place, that number may be somewhat inflated.
“There’s a pushing out of housing affordability where it’s not affordable, not just in the Toronto proper but also into the suburbs,” Coffey said. “If you were to leave a unit right now and try to find a new unit the average rent is significantly higher than that and that’s the piece that is really concerning us because it really shows that the housing market, the residential real estate, rental market has been heavily financialized,” she said.
If they do lose their current housing, some may have to leave the city, while others might end up crowding into apartments with family or friends, or in poorly kept-up housing like illegal basement apartments.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
OPP predicts tragic year on Ontario roadsThe first part of June 2023 revealed a particularly concerning trend on roads
Lire la suite »
Most of Ontario remains under fire bans with 3 times as many wildfires reported in 2023Most of Ontario remains under a provincial fire ban, with three times as many wildfires reported in 2023 compared to the same time period last year.
Lire la suite »
Canada, Ontario reach historic $10-billion proposed First Nations treaty settlementProposed settlement would resolve claims tied to past unpaid annuities that stretch back more than 170 years
Lire la suite »
Most of Ontario remains under fire bans with 3 times as many wildfires reported in 2023Most of Ontario remains under a provincial fire ban, with three times as many wildfires reported in 2023 compared to the same time period last year.
Lire la suite »
Canada, Ontario reach historic $10 billion proposed First Nations treaty settlementNEW: Leaders of the Robinson Huron Treaty Litigation Fund say they’ve reached a proposed $10-billion settlement with the governments of Ontario and Canada over unpaid annuities for using their lands.
Lire la suite »