Affordable housing – both rented and owned – is a big factor in quality of life and is important in attracting workers to our community.

• Rate of Increase in New Housing Prices
• Ratio of Residential Prices to Family Income
• Rental Vacancy Rate
• Ratio of Rental Costs to Full Time Minimum Wage
• Average Annual Rent for a Two Bedroom Apartment Compared to Income
• Percent of Renters Spending More Than 30% of Income on Housing
• Other

Note: Unless otherwise indicated, references to "Kitchener" refer to the Kitchener Census Metropolitan Area (CMA).

Rate of Increase in New Housing Prices

10 Year Increase in New Housing Price (%), March 2007

Waterloo Region 37.2

Source: Statistics Canada, http://www.statcan.ca/Daily/English/070510/d070510c.htm

Ratio of Residential Prices to Family Income

See Appendix Table V-2 for average residential prices and Table XI-6-b for median Census family income.

Source: Average residential prices found through Canadian Housing Observer, Table 6.
http://www.cmhc.ca/en/corp/about/cahoob/loader.cfm?url=/commonspot/security/getfile.cfm&PageID=96839. Canada Mortgage and Housing Corporation based on data from CREA. Median household income data acquired through Statistics Canada. http://www40.statcan.ca/l01/cst01/famil107a.htm. Based on CANSIM Table 111-0009. Based on tax data.

Source for CA data: Median Census family income found through Statistics Canada Community Profiles
http://www12.statcan.ca/english/profil01/CP01/Index.cfm?Lang=E. The housing prices were acquired through a CREA special request. Series MLS104859, MLS104451, MLS104171, MLS104187, MLS104203.

With a ratio of average house prices to median money income for Census families of 3.0 in 2004, Kitchener was 76 per cent of the national average and 76 per cent of the provincial average. The ratio increased 15 per cent over 2000-2004.

Note: Income for economic families available in Table XI-6-ci. Data for average residential prices available through Appendix Table V-2.

Source: Average residential prices found through Canadian Housing Observer, Table 6. http://www.cmhc.ca/en/corp/about/cahoob/loader.cfm?url=/commonspot/security/getfile.cfm&PageID=96839. Canada Mortgage and Housing Corporation based on data from CREA.

Source for CPI: Statistics Canada CANSIM Table 326-0002 , series v737344.

Source for median economic family income: Statistics Canada. Income Trends in Canada 1980-2005. Table 202-0411 titled "Median total income, by economic family type, 2005 constant dollars, Canada, provinces and select CMAs". Based on SLID. Accessed through CD.

National Comparisons (PDF)

• Table V-2: Ratio of MLS Average Residential Prices and Median Census Family Pre-Tax Income for Vital Signs CMAs, 2000-2005
• Appendix Table V-2-ii: Ratio of MLS Average Residential Prices and Median Economic Family Income for Select Vital Signs CMAs, 1995-2005

Rental Vancancy Rate

Note: Based on vacancy rates (%) in privately initiated rental apartment structures of three units and over.

Source: Canada Mortgage and Housing corporation, Housing Market Information:Rental Market Statistics, Tables 9 and 10 on pages 27 and 28, respectively.
http://www.cmhc-schl.gc.ca/odpub/esub/64725/64725_2006_A01.pdf.

At 3.3 per cent in 2005, the rental vacancy rate of two bedroom apartments in Kitchener was 118 per cent of the national average. The rate is down 25 per cent from that in 1992 the first year for which data are available.

Source: Canada Mortgage and Housing Corporation. Rental Vacancy Rate, Canada, Provinces and Metropolitan Areas, 1992 – 2005 (per cent). Based on CMHC Rental Market Survey. Accessed through http://www.cmhc.ca/en/corp/about/cahoob/data/data_004.cfm.

National Comparisons (PDF)

• Table V-3: Rental Vacancy Rates (%) in Vital Signs Communities, 2005 and 2006
• Appendix Table V-3: Rental Vacancy Rates (%) in Vital Signs CMAs, 1995-2005

Ratio of Rental Costs to Full Time Minimum Wage

% Full-Time Minimum Wage Required for Average Market 1, 2 Bed Apt., 2006

Kitchener CMA 60, 70

Sources: CMHC http://www03.cmhc-schl.gc.ca/b2c/b2c/init.do?language=en, Ontario Employment Standards, http://www.labour.gov.on.ca/english/es/pdf/fs_wage.pdf

Average Annual Rent for a Two Bedroom Apartment Compared to Income

Source: Statistics Canada. http://www40.statcan.ca/l01/cst01/famil107a.htm. Based on CANSIM Table 111-0009 (see Appendix Table XI-6b). and Canadian Housing Observer: Average Rent for Two-Bedroom Apartments, Canada, Provinces and Metropolitan Areas, 1992–2005 (dollars) based on CMHC (Rental Market Survey). Accessed through http://www.cmhc.ca/en/corp/about/cahoob/data/data_004.cfm.

Average annual rent was 13.3 per cent of median money income for Census families in 2004 in Kitchener. This ratio was 89 per cent of the national ratio. The rate was down 4 per cent from that in 2000.

Note: For median before-tax income based on SLID, see Table XI-6-c-ii. For average monthly rent, please see Appendix Table V-5.

Source for rent data: Canadian Housing Observer: Average Rent for Two-Bedroom Apartments,
Canada, Provinces and Metropolitan Areas, 1992–2005 (dollars) based on CMHC (Rental Market Survey). Accessed through http://www.cmhc.ca/en/corp/about/cahoob/data/data_004.cfm.

Source: Statistics Canada. Income Trends in Canada 1980-2005. Table 202-0411 titled "Median total income, by economic family type, 2005 constant dollars, Canada, provinces and select CMAs". Based on SLID. Accessed through CD.

National Comparisons (PDF)

• Table V-5: Average Annual Rent for 2 bed room apartments as a Percent of Median Yearly Income in Vital Signs Communities, 2000-2005
• Appendix Table V-5-ii: Average Annual Rent for Two Bedroom Apartments as a Percent of Median Yearly Income in Vital Signs CMAs, 1995-2005

Percent of Renters Spending More Than 30% of Income on Housing

The proportion of households spending 30 per cent or more of their income on gross rent was 37 per cent in Kitchener in 2000, 92 per cent of the national average. The proportion of households spending more than 30 per cent of income on owner’s major payments was 14 per cent, 90 per cent of the national average.

National Comparisons (PDF)

• Table V-1: Percent of Households Spending 30% or More of Income on Gross Rent and Percent of Households Where Owner's Major Payments as a Percentage of 2000 Household Income Exceed 30% in Vital Signs Communities, 2001

Other

Source for CMA data: Canadian Housing Observer, Table 6.
http://www.cmhc.ca/en/corp/about/cahoob/loader.cfm?url=/commonspot/security/getfile.cfm&PageID=96839.
Canada Mortgage and Housing Corporation, based on data from CREA.

Note: All data refers to privately initiated apartment structures with at least three units.

Source: CMHC. Canadian Housing Observer: Average Rent for Two-Bedroom Apartments,
Canada, Provinces and Metropolitan Areas, 1992–2005 (dollars)based on CMHC (Rental Market Survey). Accessed through http://www.cmhc.ca/en/corp/about/cahoob/data/data_004.cfm.

Average Resale House Price (projection) for 2007

Waterloo Region 247000

Source: CMHC Housing Conditions Reports

Average Residential Price, 2004

Waterloo Region 205,639

Source for CMA data: Canadian Housing Observer, Table 6.
http://www.cmhc.ca/en/corp/about/cahoob/loader.cfm?url=/commonspot/security/getfile.cfm&PageID=96839.
Canada Mortgage and Housing Corporation, based on data from CREA.

New Housing Starts, 2006

Waterloo Region 2500

Source: CMHC Housing Market Outlook, Spring 2007

National Comparisons (PDF)

• Appendix Table V-2-i: MLS Average Residential Prices ($) in Vital Signs Communities, 1995-2005
• Appendix Table V-5-i: Average Monthly Rent for Two Bedroom Apartments in Vital Signs Communites, 1995-2006
• Table V-6: Rent-Geared-to-Income Housing as a Percent of All Rental and All Private Units for Vital Signs Communities in 1996, 2001 and 2002