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Calgary had the highest market rental rates in Canada. In order to rent a two-bedroom apartment a household would need to have an income of $53,000. Approximately 42,000 households were spending over 50% of the annual income on housing, putting them at risk of homelessness. Over 3,200 people in Calgary were homeless in 2022. [11]
True, there's barely any floor space, but the asking price is only C$550 (£300) a month in a Toronto suburb where the average monthly rent for a one-bedroom flat is C$2,261.
The National Bank of Canada publishes a Housing Affordability Monitor report, which "measures housing affordability in 10 major census metropolitan areas" (Calgary, Edmonton, Hamilton, Montreal, Ottawa–Gatineau, Quebec City, Toronto, Vancouver, Victoria, Winnipeg) and "summarizes the results in a weighted-average composite of the 10 CMAs."
In Canada affordability is one of three factors, along with adequacy and suitability, used to determine core housing needs. [13] Canada ranks among the lowest of the most developed countries for housing affordability. [14] Since the 1980s the federal government has played a smaller and smaller role in funding affordable and social housing.
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Tenants typically have their own private rooms, but share washroom and kitchen facilities with other tenants. [49] Rooms generally cost between $375 and $800 (CAD, c. 2015), well below the average cost of Vancouver rental housing. [50] The exterior of the Balmoral Hotel in Vancouver. The iconic sign was removed in June 2022. [51]