Erosion of affordable rental housing stock

The number of affordable rental units in the private market is rapidly eroding due to increasing rents and buildings being sold to new ownership. Using units with rents below $750 per month as a benchmark (affordable for a household with an annual income of $30,000), the number of rental units in the Hamilton CMA declined by some 10,400 between 2011 and 2016, with another 5,500 lost between 2016 and 2021. Similarly, between 2016 and 2021 the CMA lost 9,200 units with rents between $750 and $1,000.

Source:  Canada Mortgage and Housing Corporation, Special Request.