A new report urges both Federal and Provincial action to build at least 10 thousand Non-profit housing units each year, in order to meet increased demand.
The 8th annual edition of “Where’s Home?” shows only three thousand units built last year across the province and over the last decade the number of rental units has actually fallen as many were turned into Condos.
Co-Author of the report, Co-Operative Housing Federation Manager Harvey Cooper says Owen Sound mirrors the provincial figures.
Over the last five years, only 10 new non-profit rental units have been built in the Scenic City.
Cooper says in the five years before that, none were built so in the past decade the city has lost 100 rental units.
As a result, the vacancy rate has fallen to under three percent in Owen Sound while rent has outpaced inflation, with a two bedroom apartment going for nearly 750 dollars a month.
The new study shows tenants use on average 45 percent of their income for housing, compared with home owners in the city who pay 20 percent of their income.
Cooper says Ottawa and Queens Park need to come to the table with money for building more non-profit housing in Owen Sound.
He also says the money needs to flow continuously, not on one year and then no money for one or two years.