For the third month running, Padmapper ranked Kelowna the 6th most expensive rental market in Canada. (Image Credit: BP File Photo)

Renters’ paycheques being stretched to the limit

A growing number of renters in Kelowna are spending in the crisis level

Half of renters in Kelowna are spending over the recommended 30 per cent of their income on housing, putting a growing number of residents at a crisis level of spending.

Information comes from a comprehensive database; the 2018 Rental Housing Index composed of rental housing statistics released by a national partnership of housing associations, credit unions and municipal associations developed by using census data by Statistics Canada.

Related: Revised Kelowna rental project approved

“Traditionally, spending 30 per cent or less of household income on rent has been viewed as the benchmark of what is considered affordable,” Jill Atkey, acting CEO of the BC Non-Profit Housing association said, in a press release. “However, the data shows that spending more than 30 per cent of income on housing has become the new normal for individuals and families in almost all areas of Canada.”

The database also concludes that 21 per cent of Kelowna residents spend half of their income on rent and utilities.

Related:Renters struggle to find homes as prices climb, availability declines

“With escalating prices keeping many Canadians from affording home ownership, as well as a lack of affordable rental housing supply, more people are entering the rental market or staying in the rental market longer,”Jeff Morrison, executive director of the Canadian Housing and Renewal Association said.

“This marks the first time in a generation that the rate of Canadian renters has outpaced the number of Canadians buying a home, and speaks to the need to increase the supply of affordable housing.”

The database paints a similar picture for West Kelowna, half of renters are spending over 30 per cent of their income on rent and utilities, however 18 per cent are spending half of their income on housing.

To report a typo, email:
newstips@kelownacapnews.com
.


@sydneyrmorton
sydney.morton@kelownacapnews.com

Like us on Facebook and follow us on Twitter.

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

WATCH: City of West Kelowna opens up for public hearings

City staff have made sure residents keep their distance to minimize COVID-19 transmission

Peachland recovery task force proposes larger patios

Several initiatives proposed by the Peachland COVID-19 recovery task force will go to council tonight

Motorbike crash on Glenmore Road

Traffic is slow going on Glenmore Road headed north

Suspected social media accounts of accused Kelowna hamster torturer emerge

Leighton Allen Labute, 20, is facing six charges related to his alleged torture of a hamster

North Westside residents shocked at fire chief’s suspension

Communities association president said they don’t know why the suspension happened

B.C. records no new COVID-19 deaths for the first time in weeks

Good news comes despite 11 new test-positive cases in B.C. in the past 24 hours

Fatal motorcycle crash on Highway 97 near Summerland

The incident involving a motorcycle happened just before 4 p.m.

Tagging Suicide Hill in Vernon in lieu of grad party?

City councillor pitches idea to revive old tradition amid COVID-19 pandemic

BC Corrections to expand list of eligible offenders for early release during pandemic

Non-violent offenders are being considered for early release through risk assessment process

Fraser Valley driver featured on ‘Highway Thru Hell’ TV show dies

Monkhouse died Sunday night of a heartattack, Jamie Davis towing confirmed

B.C. visitor centres get help with COVID-19 prevention measures

Destination B.C. gearing up for local, in-province tourism

North Okanagan campers trashing rules

Campers still pitching tents, and leaving garbage, despite sites not being open until June 1

Most Read