{"id":49,"date":"2023-09-14T00:59:47","date_gmt":"2023-09-14T00:59:47","guid":{"rendered":"https:\/\/hamiltoncommunityfoundation.ca\/vitalsigns-report\/?page_id=49"},"modified":"2023-12-07T16:06:13","modified_gmt":"2023-12-07T16:06:13","slug":"supply-of-rental-units-compared-to-income-range","status":"publish","type":"page","link":"https:\/\/hamiltoncommunityfoundation.ca\/vitalsigns-report\/supply-of-rental-units-compared-to-income-range\/","title":{"rendered":"Supply of rental units compared to income range"},"content":{"rendered":"\n

One way of examining adequate affordable rental housing supply is to compare the distribution of households by income range to the number of units in a corresponding affordable rent range using 30% of annual income spent on housing costs as the rule. For example, households with annual incomes of $20,000 to $30,000 are compared to the number of units that rent for $500 to $750 per month.<\/p>\n\n\n\n

As shown in the next two charts, based on census data, in 2021 there was a shortfall of almost 8,000 units under $750 \u2014 a rent range affordable for those with incomes under $30,000 \u2014 influenced by the erosion of units as noted above. The lack of lower-rent units means that many households with incomes below $30,000 live in units renting above $750, and many above $1,000 \u2014 well over the 30% affordability benchmark.<\/p>\n\n\n\n

\"\"<\/a><\/figure>\n\n\n\n

While these charts show, in theory, a shortage in units over $2,500, it also reflects a substantial number of higher-income renters who occupy units for under $2,000 per month. The large number of higher-income renters might also create an incentive to build luxury rental units or detached homes.<\/p>\n\n\n\n

\"\"<\/a><\/figure>\n\n\n\n

Source:  Canada Mortgage and Housing Corporation, Special Request.<\/p>\n","protected":false},"excerpt":{"rendered":"

One way of examining adequate affordable rental housing supply is to compare the distribution of households by income range to the number of units in a corresponding affordable rent range using 30% of annual income spent on housing costs as the rule. For example, households with annual incomes of $20,000 to $30,000 are compared toContinue reading “Supply of rental units compared to income range”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"_links":{"self":[{"href":"https:\/\/hamiltoncommunityfoundation.ca\/vitalsigns-report\/wp-json\/wp\/v2\/pages\/49"}],"collection":[{"href":"https:\/\/hamiltoncommunityfoundation.ca\/vitalsigns-report\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/hamiltoncommunityfoundation.ca\/vitalsigns-report\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/hamiltoncommunityfoundation.ca\/vitalsigns-report\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hamiltoncommunityfoundation.ca\/vitalsigns-report\/wp-json\/wp\/v2\/comments?post=49"}],"version-history":[{"count":4,"href":"https:\/\/hamiltoncommunityfoundation.ca\/vitalsigns-report\/wp-json\/wp\/v2\/pages\/49\/revisions"}],"predecessor-version":[{"id":224,"href":"https:\/\/hamiltoncommunityfoundation.ca\/vitalsigns-report\/wp-json\/wp\/v2\/pages\/49\/revisions\/224"}],"wp:attachment":[{"href":"https:\/\/hamiltoncommunityfoundation.ca\/vitalsigns-report\/wp-json\/wp\/v2\/media?parent=49"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}