Real Estate

A Report Shows Young Montrealers Are Especially Hard-Hit By The Housing Crisis

Almost half of young households spend more than 30% of their income on housing: report.
A Report Shows Young Montrealers Are Especially Hard-Hit By The Housing Crisis

The pandemic has called attention to the burden facing young Montrealers, according to a recent report from the Conseil jeunesse de Montréal.

The report, titled "Young Montrealers and rental housing: a precarious situation," states that the median income for 15 to 24-year-olds is $29,080 and that "nearly half of renter households under the age of 24 spend more than 30% of income on housing expenses."

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"In a city like Montreal, which attracts many young adults with its many post-secondary educational institutions and job placement opportunities, their housing difficulties should be of particular concern to the municipal government," Louis Gaudreau, a professor at UQAM’s École de travail social, told Actualités UQAM.

Homeownership in Montreal is also becoming more difficult — especially for young people — as, Gaudreau continued, "prices have risen at an even greater rate than rents, by 7.2% over the past year, creating upward pressure on the latter."

The professor told Actualités UQAM that solutions could include "encouraging the creation of affordable housing specifically for young people."