Demand driving up rental costs
by Ron Grech
TIMMINS – More than 20% of renter households can’t afford even the most basic bachelor apartment in Timmins, according to a recent housing plan study.
The problem is that a steady decline in the number of available rental units has been driven up the cost of renting in Timmins over the last 10 years.
Ron Leduc, managing director of Clearlogic consulting in Timmins, cited the report in which the average rent for a bachelor apartment in Timmins in 2013 was shown to be $495 month.
According to a standard provincial benchmark for affordability, shelter costs should not exceed 30% of a household’s gross annual household income.
Based on that threshold, Leduc said 21.2% of renter households in Timmins — a demographic earning less than $18,159 a year — can’t afford even the most basic apartment.
A community housing plan, being presented next week, proposes potential solutions to Timmins’ housing gap…Read the full release in the Timmins Daily Press
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