United Way Peterborough & District has released the 19th edition of Housing is Fundamental, a detailed report that paints a stark picture of the region’s worsening housing crisis. The report highlights troubling trends in affordability, availability, and the broader social impacts of housing insecurity.
Key findings include:
- Canada’s national vacancy rate has dropped to a historic low of 1.5%, with Peterborough’s rate even lower at 1%.
- Average market rent in Peterborough has risen to $1,325, a 6.5% increase from last year.
- Three-bedroom units saw the steepest rise, with rents up 7.7%.
- To afford average rent, a household now needs an annual income of $53,000.
Report author Paul Armstrong emphasized the systemic nature of the crisis, pointing to rising rents, stagnant incomes, and a lack of new social housing as key contributors. He also noted the growing role of large capital enterprises in the rental market and the increasing number of residents turning to food banks after paying rent.
United Way CEO Jim Russell echoed these concerns, calling housing “the cornerstone of a healthy and thriving community.” He urged all levels of government and community partners to treat the report as a call to action.
