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5d ago

Vancouver and Toronto Rank Least Affordable for Renters in New CCPA ‘Rental Wage’ Report

A CCPA analysis of 62 cities calculates the hourly pay needed to keep rent to 30% of income while working full time.

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Condo buildings tower above older two and three-storey walk-up apartment buildings, in Burnaby, B.C., on Wednesday, Dec. 18, 2024. THE CANADIAN PRESS/Darryl Dyck
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Construction near Bloor Street and Dufferin Street, pictured here on April 21, 2025.

Overview

  • The report finds renters in 2024 needed $37.84 an hour to afford an average one-bedroom in Vancouver and $48.94 for a two-bedroom.
  • In Toronto, the rental wage was $37.66 per hour for a one-bedroom and $44.80 for a two-bedroom.
  • Only eight of the 62 cities studied were affordable for a full-time minimum-wage worker renting an average one-bedroom, including six cities in Quebec.
  • Victoria ranked third least affordable, with rental wages of $29.38 per hour for a one-bedroom and $38.33 for a two-bedroom based on CMHC’s October 2024 survey.
  • About one-third of Canadian households are renters, and the CCPA notes markets are shifting as more supply comes online but affordability pressures remain significant for lower-wage workers.