Statistics Canada releases housing affordability in Canada 2022
By Statistics Canada
September 10, 2024
Statistics Canada releases housing affordability data for 2022.
The share of households spending 30 per cent or more of their income on shelter costs returns to pre-pandemic levels. The share of households living in unaffordable housing—defined as spending 30 per cent or more of their income on shelter costs was 22 per cent in 2022, virtually the same as it was in 2018, before the COVID-19 pandemic. In 2022, renters were more than twice as likely to spend 30 per cent or more of their income on shelter costs than owners, a gap that has persisted over time.
In 2022, households living in social and affordable housing were less likely to be living in unaffordable housing compared with 2018. The average monthly rent paid by households living in social and affordable housing was $695 in 2022, a 12.4 per cent increase from 2018. This smaller rise in rent compared with income growth allowed more households living in social and affordable housing to keep their spending on housing under 30 per cent of their income. In 2022, 25.4 per cent of households living in social and affordable housing spent 30 per cent or more of their income on housing, down four percentage points from 2018.
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