Spending Over 30% of Income on Housing

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 Whether buying a house or renting an apartment, spending more than 30% of one’s income on housing creates financial difficulties. The proportion of households spending 30% or more of their income on rent is an indicator of affordability and a potential contributor to homelessness. 

 

According to a Social Housing Strategist Report (2004), in Niagara, 45.6% residents were spending more than 30% on housing (approximately. 19,000 households), with 21.5% paying more than 50%. Spending more than 30% has an impact on the monies available for other needs, including food. A higher percentage of Niagara residents were in this risk category compared to other parts of Ontario.

 

Source: http://www.nrh.ca/images/Niagara%20Region%20Summary%20Document.pdfwww.shs_inc.ca

 

Table 14   Proportion of Niagara Residents Spending a Significant Portion of Income on Rent

 

CMA

Pays more than 50% of income on rent

Pays more than 30% of income on rent

St. Catharines- Niagara

21.5%

45.6%

Hamilton

20.7%

43.8%

Toronto

20.0%

42.2%

Kitchener

17.2%

36.6%

 

Source: http://www.nrh.ca/images/Niagara%20Region%20Summary%20Document.pdf; www.shs_inc.ca

 

Housing costs can be the single largest expenditure in a household, leaving little room for other necessities” (Niagara Regional Housing, 2008, p. 2).

 

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