Kitchener faces affordable housing crisis: report
KITCHENER -- Kitchener is in a crisis when it comes to affordable housing, according to a new report by city staff.
The report shows that a need for affordable units keeps growing faster than the creation of units.
Almost double the amount of units are needed than what already exists.
City staff says Kitchener needs about 8,000, while there are only about 4,500 units right now.
The study says the housing supply is expected to grow in the next few years.
The average cost of rent increased by 35 per cent with average housing prices increasing by 88 per cent from 2008 to 2018. Most of those increases happened from 2016 to 2018.
The report says attaining affordable housing is especially challenging for the homeless, recent immigrants, students and seniors.