Almost half of B.C. renters are spending more than the recommended 30 per cent of their income on housing.

That91裸聊视频檚 despite B.C. residents earning roughly $5,000 more in average yearly income than the rest of Canada, according to the latest numbers on the nation91裸聊视频檚 rental housing index, released Tuesday by the B.C. Non-Profit Housing Association.

The information comes from the , a database of rental housing statistics based on the latest census data from Statistics Canada.

91裸聊视频淭raditionally, spending 30 per cent or less of household income on rent has been viewed as the benchmark of what is considered affordable,91裸聊视频� Jill Atkey, the association91裸聊视频檚 acting CEO said in a news release.

With B.C.91裸聊视频檚 average annual income sitting at $58,698, the data say 43 per cent of the province91裸聊视频檚 590,000 renters are spending the 30-per-cent benchmark on rent and utilities per year 91裸聊视频� about $17,500. A further 21 per cent are shelling out more than 50 per cent.

91裸聊视频淭his 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,91裸聊视频� said Jeff Morrison, executive director of the Canadian Housing and Renewal Association.

The only province to see more of a rental squeeze is Ontario, where 46 per cent of renters are spending more than 30 per cent of their income on rent and utilities. There, the average income is closer to the nation91裸聊视频檚 average at $53,691 per year.

B.C. renters balance income, rental rate, overcrowding

The high rent in B.C. is forcing 10 per cent of renters to live in overcrowded conditions, the data shows 91裸聊视频� calculated by the number of residents in one dwelling with considerations of their age and gender.

91裸聊视频淲ith 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,91裸聊视频� Morrison said.

Within B.C., Vancouverites 91裸聊视频� to no surprise 91裸聊视频� are spending the most on rent and utilities, with the average monthly rent of $1,295 91裸聊视频� about $150 more per month than the provincial average.

They may earn more 91裸聊视频� about $65,549 per year on average 91裸聊视频� but they are also spending 24 per cent of their income on rent, one percentage point more than the average.

That still leaves 44 per cent of renters shelling out more than 30 per cent of their income on rent.

In the Fraser Valley, where the average rent is $975 a month, 42 per cent of renters are spending more than 30 per cent of their income on rent and utilities. But in Abbotsford, 12 per cent are living in overcrowded conditions.

Then there are the cities where income isn91裸聊视频檛 keeping up to rent, causing more residents to spend a greater portion of their income on it.

In Victoria, the average monthly rent is about $1,053. But the average salary is $7,000 less than the provincial average, 46 per cent are putting than 30 per cent of their income towards housing. A further 22 per cent are spending more than 50 per cent of their earnings on rent.

In the Okanagan, where there91裸聊视频檚 no shortage of larger rental units, only five per cent of renters are dealing with overcrowded conditions. However, 47 per cent of renters still pay more than the 30-per-cent benchmark.

The average renter there spends 25 per cent of their yearly income on rent and utilities.

B.C.91裸聊视频檚 north and the Kootenays could be the 91裸聊视频減romised land.91裸聊视频�

Rent and utilities in the Cariboo costs about $782 per month on average. More than half of its renters spend less than the benchmark of their income on housing.

In the Kitimat-Stikine region, renters are spending about 18 per cent of their income on rent, which is an average of $919 per month.

Meanwhile, the Bulkley-Nechako region holds the most ideal condition: $811 per month, with 59 per cent of renters spending less than 30 per cent of their income on rent, and earning $1,000 more per year than the provincial average.

ashley.wadhwani@bpdigital.ca
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