Why is there a need for Affordable Housing?

Why is there a need for Affordable Housing?

Core Housing Need

A household is said to be in core housing need if its housing falls below at least one of the adequacy, affordability or suitability, standards and it would have to spend 30% or more of its total before-tax income to pay the median rent of alternative local housing that is acceptable (meets all three housing standards). Over the past ten […]

Why is there a need for Affordable Housing?

Household Income

According to Statistics Canada, 19% of households earn under $30,000 per year. 43% earn less than $60,000, which is very close to the maximum amount for a 4 bedroom units allowed for Saskatchewan Housing Income Maximums (SHIM), the income levels that the Government of Saskatchewan bases eligibility for access affordable housing programs.                         Figure 1.1 Distribution of households among income […]

Why is there a need for Affordable Housing?

Vacancy Rates

With the economic slowdown, vacancy rates have been rising in Saskatoon over the past year. Table 1.11 : Private Apartment Vacancy Rates (%) by Zone and Bedroom Type, Saskatoon CMA Zone Bachelor 1 Bedroom 2 Bedroom 3 Bedroom Total Zone 1- Central 3.8 2.3 3.0 6.3 2.7 Zone 2 – South 3.5 2.3 3.9 0.0 3.0 Zone 3 -Southeast 4.4 […]

Why is there a need for Affordable Housing?

Rental Market

Considering the number of households in core housing need, the amount of 3+ bedroom rental housing in the Saskatoon market is insufficient. Table 1.8 : Number of Private Apartment Units in the Universe by Zone and Bedroom Type, Saskatoon CMA Zone Bachelor 1 Bedroom 2 Bedroom 3+ Bedroom Total Zone 1- Central 185 1,173 780 16 2,154 Zone 2 – […]

Why is there a need for Affordable Housing?

Homelessness

Homelessness is often misunderstood. It’s not a ‘cute’ cause, so it’s hard to feel empathy for something most of us are fortunate enough never to have endured. Homelessness is not suffered through choice – everyone is vulnerable. In order to become homeless, a person has to have suffered a personal crisis. Once alone and vulnerable, the slide into a vicious […]

Why is there a need for Affordable Housing?

Immigrants and Newcomers

Saskatoon has become a popular and desirable destination for interprovincial migration as well as for new immigrants and refugees seeking a new community to call home. The amount of landed immigrants that came through the Saskatchewan Immigrant Nominee Program (SINP) has dramatically increased since 2005, while federally there have only been small increases in the amount of landed immigrants. SINP has […]

Why is there a need for Affordable Housing?

Seniors

According to CMHC (Canadian Mortgage and Housing Corporation) in 2006 about 25 per cent of the Canadian population was over the age of 55 and by 2036 that number will increase to about 35 per cent. Furthermore, CMHC has said that the population of senior citizens living in Canada will continue to grow at a pace quicker than other demographic […]