More detailed analysis on loss of affordable rentals

Building on the preliminary analysis that I posted immediately after the Census release of 2021 housing data at the end of September, I have used the new census data to dig further into the nature and extent of the erosion of lower rent stock. The more detailed report, which includes assessments for a cross section of larger cma's in additional to aggregate national estimates is posted on the website of the Canadian Housing Evidence Collaborative (CHEC)

The most substantial loss is in Montreal, which alone accounts for one-third of the reduction of 230,000 units renting below $750 per month. Intrigued by the relatively low amount of reductions in other cities I explored further and found that the reductions between 2011 to 2016 (322,000 nationally) had already largely eroded much of the low rent stock. In higher rent cities, notably Vancouver and Toronto the erosion has moved up the next rental band ($750-$999) where these two cities have lost 34,000 and 52,000 units respectively.

Clearly a single benchmark (whether $750 or $1,000) is not appropriate with the variations in rents and incomes across different cities. The brief therefore suggests a more refined type of analysis going forward to track this phenomenon over time.