HOUSING AFFORDABILITY A MAJOR CONCERN  

 “With one of the most expensive housing markets in Canada, housing affordability remains a major concern throughout the Capital Region.�

                -Opening sentence
               Revised Draft June 2006
               Regional Housing Affordability Strategy (RHAS)—
               Capital Regional District.
For full report see www.crd.bc.ca/regionalplanning/growth/rhas/index.htm

 Affordability of housing has become a major topic on Southern Vancouver Island for residents, decision makers and industry alike.

‘Difficult to Find Housing’

 In addition to the above quote, the RHAS document goes on to say that “for those with modest or low incomes, finding and keeping decent housing within their financial means has become increasingly difficult.� The local 0.5% vacancy rate for renters is  the lowest in the country. Some 28% of renter households (13,080 ) spend more than 30% of their income on shelter and live in ‘Core’ need

 Single parents in worse shape

 Persons on social assistance receive only $520 monthly shelter allowance for a single parent family with one child, while average market rent for a two-bedroom apartment in the CRD is $837 a month. “Core housing need� means a person does not live in, and are unable to access, housing which is affordable, in adequate condition, and of suitable size.

 Living Wage and apartment rents

 Part of the ’Quality of Life CHALLENGE’ work on ’living wage’ noted that it would take $14.88 per hour in a two-income household from each worker to rent a  3 bedroom apartment and to maintain the monthly costs outlined in this chart. The model assumes two parents or adults, two children, one adult working 40 hours a week and the other adult working 20 hours per week. (see www.qolchallenge.ca for ‘Living Wage’ details)

Hot economy leads to lower end jobs

More people now live below the ’living wage’ because while the unemployment rate (3.8%) in the Capital Region is the lowest in nearly four decades, employment trends are toward more low-waged, part-time jobs that support the service sector including tourism.�  

’Vital Signs’ not good either

Earlier this month, the Victoria Foundation also reported out on a number of statistical indicators on the health the region.

“In dire need of corrective action�, they note, includes:     

             - Doing something about the 22,000 + families in “core� housing need;
             - Acting to help the 700 + homeless in our community;
             - Recognizing the lack of supply for seniors housing.