The affordability gap exists between actual household income and
the necessary income required to rent or own a home in the market. By defining the affordability gap, City Administration can proactively develop and deliver programs that address the spectrum of housing needs, ranging from deep and shallow non-market housing subsidies to entry level rental and home ownership.Read stories
about the impact of the affordability gap on Calgarians.
For example, if the average market rent for a two-bedroom apartment in Calgary is $1,102, the income needed to rent is just over $44,000. Similarly, the income required to purchase a low-rise condominium is $275,000 requiring an income of about $75,000. This demonstrates the affordability gap between the ability to rent and the ability to purchase. Gap between the cost to rent and the cost to purchase an entry level home
While the above demonstrates the challenge in moving from renting to homeownership in Calgary, the other significant challenge is rental affordability. Households earning less than $30,000 cannot afford market rents in Calgary. Gap between income and cost to rent
For more detailed information on the cost of housing, both rental and for purchase in Calgary please select from the following: