New Study Suggests 44% of Canadians Spend More on Rent Than They Can Afford

By June 12, 2019Community

According to a new survey conducted by RateSupermarket.ca, a whopping 44% of Canadians are spending well above their means on rent. It was also found that 20% of homeowners spend more than a third of their income on their living environments.

This comes as no surprise to British Columbians— especially those living in downtown Vancouver—but prices South of the Fraser have been steadily skyrocketing throughout the years as well.

When finding a living situation, many people have different priorities.
From the same survey, it was discovered that more than half of Canadians consider the location to be a primary factor in choosing a place to live, while 32 percent valued space and square footage as a more important determining factor.

According to numbeo.com, the average prices for a three bedroom apartment in these locations South of the Fraser are as follows:

Surrey: $2,150/month

Delta: $2,300/month

Langley: $2,200/month

With this in mind, what percentage of your income do you spend on rent?

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