"It's a Deepening Crisis" United Way's Annual Housing Report Sees Continued Downward Trend
/The United Way Peterborough & District has released its 20th edition of ‘Housing is Fundamental,’ which is a report that tracked the cost and availability of rental housing in Peterborough from 2004 to 2024, announced on Wednesday morning.
Paul Armstrong authored the Housing is Fundamental report annually. Photo by David Tuan Bui.
Author Paul Armstrong says the research also seeks to contextualize the pressures households face in maintaining safe, affordable housing. His main takeaway is that their housing in Peterborough has trended downward repeatedly.
“It's a deepening crisis,” explained Armstrong. “This is something that compounds year over year over year, and it's been happening for 25 to 30 years. We are in a very, very bad set of circumstances and housing is underscoring the times of social deficiencies that we have.
The following are his key findings:
Current vacancy rate: 3.1 per cent
Current two-bedroom rent: $1,506/month, a 6.7 per cent increase over last year
20 per cent of purpose-built rental units are owned by financial firms- approximately 400,000 units nationally
Over a 20-year period rent for a two-bedroom unit has gone up 88.95 per cent The current welfare rate for a single person is $733/month, while the average bachelor apartment rents for $956/month
