Welcome back to the #WeekendReads series! On periodic Fridays throughout the year, the Oakville Community Foundation will share reports, data and information to help you stay informed when it comes to the community, the charitable sector and more. Click here for previous installments.
Throughout the year, Statistics Canada is releasing data gleaned from the 2021 Census that will show trends, anomalies and interesting bits of data that can then help to inform our work. The previous 2016 Census has already informed many of our research reports, which can be read here.
The most recent data released includes a look at the state of housing and shelter in our communities, specifically housing affordability, shelter costs, data related to both owners and tenants and more.
Average Monthly Costs
The average monthly costs for housing and shelter in Halton Region have increased for both owners and renters. For owners, average monthly shelter costs include mortgage payments, property taxes and the cost of utilities. For renters, this can include rent payments and the cost of utilities and other municipal services.
Oakville sees the highest average monthly cost for both owners and renters, at $2,384 and $2,146 respectively. Milton follows at $2,274 for owners and $2,042 for renters. Oakville also has the highest increase in cost from 2016 to 2021, with renters paying, on average, $622 more and owners paying $434 more.
These costs are higher than the Ontario average of $1,698 for owners and $1,406 for renters.
Housing Indicator Thresholds
As indicated in previous reports, including the Vital Youth Report and Vital Older Adults Report, The Foundation looks at the percentage of people in our communities who are spending more than the recommended 30% of their income on shelter costs.
One in four households in both Oakville and Milton spend more than 30% of their income on shelter. This is also one of the housing indicator thresholds established by the Canada Mortgage and Housing Corporation to deem Core Housing Need.
Core Housing Need refers to whether a private household’s housing falls below at least one of the indicator thresholds for housing adequacy, affordability or suitability. This includes whether any major repairs are required and whether there is suitable space in the home for the number of occupants.
In Oakville, one in 10 households are in core housing need, slightly lower than the 12.1% of the households across Ontario.
What does this mean? What can you do?
Housing and shelter costs continue to grow in our communities but there are ways you can help.
Next month, we will once again be launching our GIVEOakville holiday giving campaign. If the information in this piece has resonated with you, you might be interested in focusing your giving on charities in the Housing and Shelter cause category
The Foundation also continues to accept donations to the Oakville Resettlement Fund that has provided funding to St. Volodomyr, St. Joseph Ukrainian Catholic Church and HMC Connections as they work to support Ukrainians settling in the community.
To read more about housing and shelter in our communities, check out our Research Reports.
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