Number of renters in Ontario rising alongside costs, housing index says.
, released on Monday. The index says that Ontario is home to more than 1.7 million renters, up 10 per cent since 2016.The regions that saw the biggest spike in rental prices in that span were in the Greater Toronto Area , and included Halton , York and Peel .
Coffey says that more and more renters across the province, both in larger cities and in outlying suburbs, have had to commit larger portions of their income to paying rent, putting them at a higher risk of becoming homeless. In Toronto, the percentage of people spending more than 30 per cent of their income on rent is 40 per cent, according to the index, while 18 per cent of people are spending over 50 per cent of their income on rent.For instance, of the 14, 920 renters in Richmond Hill, 51 per cent of them spend more than 30 per cent of their income on rent and utilities, while 27 per cent spend more than 50 per cent of their income.
“And so the shift from what we saw previous to the five years [2016-2021] is that there's an increase in those that are carrying more burden, so tipping into that 50 per cent plus of income going to rent and utilities.” “Non-profit housing is purpose-built rental housing that has a purpose and mandate to maintain affordable housing and deeply affordable housing,” she said.
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