Low-income housing

If we look at the market rents of the downtown condos In Toronto, we see that the existing affordable rents formula will not help most of the low-income residents in Toronto afford to live in a rental condo unit.

Monthly rents     2015 figures

Apartments	Market rent	Affordable rent
bachelor	$1,200	$0960
one bedroom	$1,600	$1,280
two bedroom	$2,200	$1,760
three bedroom	$3,800	$3,040

People who need just a little financial assistance to be able to live in a decent condo apartment are the ones who will gain the most from these programs.

The very low-income people will be not be helped by Bill 39 or any other plan that defines housing eligibility of being able to pay 80% of the going free-market rates.

Will this change?
In the future, will condominium developers be forced to designate a certain percentage of all  future developments as rent-to-income units? Will social agencies be given opportunities to purchase units at less than market-value prices?

If so, then condominiums may lose their appeal and buyers will turn to free-hold housing or become renters rather than take a chance on being stuck on title in a condo that may lose value.


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