Renters need to make over $78,000 to have affordable rent in Vancouver, Toronto: CCPA

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By News Room 4 Min Read

TORONTO – Renters in Toronto and Vancouver need to earn over $78,000 a year for the average rent on a one-bedroom apartment to be considered affordable, says a report out Thursday that raises concerns about the cost burden.

The threshold, which works out to a little over $37 an hour, is what it would take to keep housing costs within 30 per cent of pre-tax income and is far beyond what many renters make, said the report by the Canadian Centre for Policy Alternatives.

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