Wondering just how much of your income you’ll need to set aside to afford rental housing across Canada? A new infographic from rental listing service Rentseeker illustrates how expensive it is to rent a bachelor, one, two, or three-bed unit in each province and territory – and the findings aren’t pretty.
In addition to the average shelter vs. income ratio, each province and territory is ranked by affordability, receiving a “severe”, “poor”, or “satisfactory” grade. Unsurprisingly, British Columbia and Ontario, tied with Nova Scotia, topped the list, at 24 and 23 per cents, respectively.
What is disheartening, however, is that only one region received a satisfactory market grade: Nunavut, with just 9 per cent. Check out the infographic below:
Rental Affordability by Province and Territory
Here’s the full list of required income percentage, per province, to afford a rental or home:
- BC: 24 per cent
- Ontario: 23 per cent,
- Nova Scotia: 23 per cent
- Prince Edward Island: 22 per cent
- Saskatchewan: 22 per cent
- Alberta: 21 per cent
- Manitoba: 21 per cent
- New Brunswick: 21 per cent
- Quebec: 21 per cent
- Newfoundland and Labrador: 20 per cent
- Yukon: 8 per cent
- Northwest Territories: 15 per cent
- Nunavut: 9 per cent.
