For workers earning minimum wage, Ottawa is one of the least affordable places in Canada to rent an apartment, according to a new report.
Macdonald said the benefit could provide some short-term help while the country awaits new rental units. In the core of the city, Centretown is also very expensive, you'll need to earn $32.25 an hour to afford the average two-bedroom unit there. In only 9% of neighbourhoods can a minimum-wage worker afford the average-priced one-bedroom apartment without spending more than 30% of their income on rent. The national vacancy rate for purpose-built apartments declined to 2.4 per cent a year ago from 3 per cent in 2017, according to CMHC, which said higher immigration levels were a key factor in the decline.
A minimum-wage worker in Vancouver would have to work 84 hours a week to afford the average-priced one-bedroom apartment, or 112 hours a week for a two-bedroom apartment.
In the Gatineau area, where the minimum hourly wage was $12 at the time the report was compiled, renters would need to earn $16 an hour or work 53 hours a week at minimum wage. Its receive will be tailored to every province.
"2d of all, it's likely no longer generous ample to seriously lower the rent for renters, seriously on the lower live of the income spectrum and seriously in substantial cities like Vancouver, Toronto, Victoria, Calgary, Ottawa".
The document defines "cheap" rent as 30 per cent or less of a renter's pre-tax income, the identical lower-off outdated skool by federal officials. But the benefit's tight budget cap will necessitate the application of strict eligibility requirements that will push most low-income renters from the queue.
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Roughly one-third of households, or 4.7 million, are renters and they're in most cases low-income earners, or young adults, or newbies to Canada.
"Across the country, skyrocketing rents for decent apartments show no signs of falling", David Macdonald, the report's author, said in a press release.
In the 1970s, he said, it wasn't uncommon to see 100,000 new, purpose-built rental units being constructed each year, "which is an incredible amount of new rental housing being put into the market".
While there has been some uptick in condo construction over the closing decade - mostly within the sumptuous condo market, Macdonald talked about - the Liberals hope to employ billions in federal funding to serve finance more than 100,000 new condo objects.
At the rate that money is being committed to projects, the study estimates most units won't come open until the late 2020s. That's still less than the nearby Grandin neighbourhood, west of the core, where you would have to earn $32.10 - the highest rental wage in the city - to afford a two-bedroom unit, which is nearly as much as the average rental wage of $33.70 in Toronto. "Building more dedicated affordable housing would increase vacancy rates, cool rental prices and better accommodate the many people shut out of Canada's overheated housing market".