Document under Separate Cover Refer to LPS State of Housing

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1 Document under Separate Cover Refer to LPS State of Housing

2

3 Contents Housing in Halton 1 Overview The Housing Continuum Halton s Housing Model Income & Housing Costs 216 Indicator of Housing Needs New Housing Development 6 Housing Mix Target Housing Completions Halton Housing Construction Activity, Halton Housing Completions by Type Halton Housing Completions Over Time, Under Construction by Local Municipality, 216 Housing Completions by Local Municipality Housing Costs & Affordability 11 Housing Affordability Target Housing Sales, 216 New & Resale Average House Prices New Affordable Housing by Dwelling Type & Municipality Rental Housing 15 Vacancy Rates & Monthly Rent Housing in Halton Overview The State of Housing Report has been prepared annually since 26. It provides an annual review of housing supply and demand in Halton Region and monitors how well the Region is implementing its vision for managed and sustainable growth, as set out in Halton s Regional Official Plan and the Provincial Growth Plan. Halton s vision includes advancing the supply of an adequate mix and variety of housing to meet differing physical, social and economic needs. The 216 Report provides the following information: Housing supply and demand in Halton for the various housing segments of the housing continuum. Income and housing cost thresholds for affordable housing as generated annually through Halton s unique Housing Model. Achievement of the Regional Official Plan targets related to density and affordability. 216 housing sales (new and resale) by Local Municipality, type and affordability. Rental housing market characteristics. Assisted housing activities and initiatives by Halton Region. Using Halton s Housing Model, the Report assesses the Region s success in achieving its Regional Official Plan housing targets (section 86(6)), which call for: at least 5 per cent of new housing units produced annually in Halton to be in the form of townhouses or multi-storey buildings; and at least 3 per cent of new housing units produced annually in Halton to be affordable or assisted housing. Assisted Housing 18 Assisted Housing Administered by Halton Region New Assisted Housing Opportunities Since 28 Halton In-situ Program (HIP) Rent Supplement Special Needs Housing Homelessness Refer to sections 86(6), 86(6.1), 86(7), 214, 218 and of Halton s Regional Official Plan for further detail. 216 State of Housing Report 1

4 The Housing Continuum Housing plays an important role in the lives of Halton s residents. Individuals and families move back and forth across the housing continuum depicted below, depending on changes that affect their personal circumstances. The continuum is based on the following observations: A range of housing types is required to meet the needs of residents throughout various stages of their lives and at any level of income; Private and non-profit sectors play an essential role in providing housing across the continuum; and Governments have various tools and programs available to provide a range and mix of appropriate housing and supports. Assisted housing is housing that is affordable for low and moderate income households for rent or purchase, where part of the housing cost is subsidized through a government program. Affordable housing is housing with a market price (for purchase) or rent that is affordable to households of low and moderate income, spending no more than 3 per cent of their gross household income on housing without government assistance. Household income thresholds for assisted and affordable housing, and the supply and demand for affordable housing are generated annually through analysis conducted in Halton s unique Housing Model (see page 3 for more info). Absolute homelessness Shelters and supports Non-profit - community housing Private-sector market Special needs Assisted Affordable Market Direct funding and programs to help those with special needs Includes supportive housing, transitional housing and emergency shelter Government-funded programs are needed to enhance affordability for lower-income households Assistance includes capital programs, operating subsidy to social housing providers and housing subsidy to eligible households Mostly multi-storey and townhouse rental housing Affordability is influenced by land-use policies related to height and density Mostly multi-storey and townhouse (rental and ownership) Affordability is not secured (as unit resale price increases typically outpace income increases over time) Housing policies are not specifically aimed at affordability Includes full range of housing (multi-storey, townhouse and detached) Policies and regulations are needed to ensure an adequate range and mix of housing for complete and healthy communities Affordability is typically secured longer term State of Housing Report

5 Halton s Housing Model Halton s Housing Model gathers various information, including household income, household spending, housing costs and average rents in the region from a variety of data sources. Using this data, analysis is conducted through the Housing Model that generates thresholds based on household income and housing cost. This calculation is undertaken for both the assisted and affordable (non-assisted) segments of the continuum. With these thresholds, the Model also generates a snapshot of housing needs of Halton s residents and those looking to live in Halton at a moment in time. These model outcomes may be influenced by the pace of growth or the health of the economy and updates/changes to the inputs or assumptions in the Model. 216 Income & Housing Costs The tables below provide an overview of the upper limit household incomes in Halton Region for 216 and corresponding housing cost thresholds, calculated through the Halton Housing Model. The maximum purchase price or monthly rent represents what a household with that income would contribute toward total housing costs, defined as assisted and affordable housing in the housing continuum. Assisted All households (average persons) Small households (1 or 2 persons) Large households (3 or more persons) Income threshold $48,5 $45,4 $5,6 Maximum purchase price $171,1 $16,2 $178,8 Maximum monthly rent $1,211 $1,134 $1,266 Affordable (non-assisted) All households (average persons) Small households (1 or 2 persons) Large households (3 or more persons) Income threshold $15,2 $76,74 $134,755 Maximum purchase price $369,4 $27,3 $473,2 Maximum monthly rent $2,626 $1,918 $3,369 Households with an income below the Assisted Income Threshold ($48,5) often require some form of government assistance to meet their housing needs, as the private sector in Halton does not typically provide many opportunities to buy or rent below the associated housing cost thresholds (very few opportunities exist in the open market to purchase at $171,1 or rent at $1,211). Households with an income between the Assisted and Affordable Income Thresholds ($48,5 - $15,2) have options to purchase a house priced below the affordable housing cost threshold ($369,4) or rent with monthly total housing costs between $1,211 - $2,626, without government assistance. In 216, the affordable (non-assisted) threshold increased 3.4 per cent from $357,2 in 215 to $369,4 in 216. The income threshold increased from $11,7 in 215 to $15,2 (up 3.3 per cent). The average affordable threshold of $369,4 is used as the index to measure the Regional Official Plan target that 3 per cent of new housing units produced annually are affordable or assisted. The threshold can also be used as a benchmark for current planning purposes. 216 State of Housing Report 3

6 216 Indicator of Housing Needs Housing demand Housing supply Service variance Non-market housing Assisted threshold $48,5 Affordable threshold $15,2 Market housing Assisted housing variance Affordable housing variance C R I S I S Market housing variance 3-8 units 1,4-2,6 units Requires government intervention Requires government subsidies May require policy intervention Based on analysis of household income profiles and housing cost thresholds in the Housing Model, a snapshot of housing needs for certain income groups is generated. The figure above provides an indication of supply-demand variances across the housing continuum, based on 216 data. The variances represent the number of new housing units that may be needed to meet both the housing demand of Halton residents as well as those seeking to live in Halton for assisted and affordable housing. This snapshot in time indicates the climate for assisted and affordable housing and may be influenced by market trends, pace of economic growth and the health of the economy. In 216, the variance for assisted housing is 3-8 units and for affordable housing is 1,4-2,6 units. In the case of higher income thresholds, the Region's housing market is providing adequate housing for this group State of Housing Report

7 Assisted housing indicator, , Population (211) 51,669 Average Year Population (216) 548,435 For 216, the Model identified a range of 3 to 8 assisted housing units. When compared over time, the assisted housing variance has remained relatively consistent with an average of units. This variance range can partially be attributed to Halton Region s efforts in creating 1,367 new housing opportunities since 28 (e.g., new assisted rental units, emergency and transitional housing, rental assistance). In addition, the variance has also remained relatively consistent with economic growth throughout this period. Affordable housing indicator of housing needs, , 2,4 1,8 1,2 6 Population (211) 51, Year Population (216) 548,435 Average For 216, the Model identified a range of 1,4 to 2,6 affordable housing units. When compared over time, the affordable housing variance has generally increased with an average of 1,83-2, units. In 216, the average resale home prices continued to increase at a greater rate than the average incomes to a point where the number of affordable housing options are limited. This has resulted in an increase of the range of required affordable housing units. 216 State of Housing Report 5

8 The State of Housing report reviews housing completions on an annual basis. The report provides an overview of the types of housing being supplied in the regional and local municipal housing markets. The Region s Housing Mix Target in the Regional Official Plan calls for at least 5 per cent of new housing units produced annually in Halton to be in the form of townhouses or multi-storey buildings (higher density housing). In 216, townhouse and apartment units accounted for 62.2 per cent of housing completions. New Housing Development Housing Completions The Region s Housing Mix Target recognizes that the Region s best opportunity to encourage more affordable housing is through the provision of higher density housing, such as townhouse and apartment units. Number of housing completions by type & municipality, 216 Halton Region Oakville Milton Halton Hills Burlington Apartment 1, % 48.7% 32.4%.% 69.4% Housing Mix Target 62.2 per cent of new units completed in Halton were townhouse and multi-storey housing. The 5 per cent Housing Mix Target was achieved in 216, for the sixth consecutive year. Highlights 5% Target 62.2 % Housing completions (216) 3,49 Housing completions : Proportion higher density housing: Housing completions 22-26: Proportion higher density housing: 17, % 25, % Townhouse % 23.1% 2.6% 22.3% 8.1% Semi 24.7%.1% 1.7%.% 1.5% Single 1, % 28.1% 45.3% 77.7% 21.% Total units 3,49 1,791 1, Local share of completions 52.5% 31.% 8.5% 8.% 5% Target achievement Source: CMHC Starts and Completions Survey % 71.8% 53.% 22.3% 77.5% In 216, there were 3,49 housing completions, an increase of 53 per cent compared to 215 (2,231). Of these, 37.1 per cent were single detached and.7 per cent were semi-detached dwellings. Townhouse dwellings and apartments represented 21.1 percent and 41.1 per cent, respectively. Combined, these higher density unit types represent 62.2 per cent of housing completions in Halton. In 216, the Region achieved its Housing Mix Target for the sixth consecutive year. At the local level, the highest number of housing completions were in Oakville (52.5 per cent), followed by Milton at 31. per cent. Halton Hills accounted for 8.5 per cent, while Burlington accounted for 8. per cent of completions. Housing completions : Proportion higher density housing: Housing completions : Proportion higher density housing: 19,84 4.5% 16, % For more information, please see page 7 and 8. Source: CMHC Starts and Completions Survey State of Housing Report

9 Halton Housing Construction Activity, Number of completions, starts and under construction units, , 5, 4,799 Completions 4, 3, 2, 3,49 3,261 Starts Under construction 1, Source: CMHC Starts and Completions Survey Housing completions in 216 increased by 53 per cent from 215, while starts slightly decreased by 15 per cent. The number of units under construction only slightly decreased. Of the 4,799 units under construction at the end of 216, 57 per cent are apartments. Halton Housing Completions by Type, Number of annual housing completions by type, ,5 3,75 3, 2,25 1,5 75 1, , ,888 Total 599 1,298 1, ,212 Total Single & Semi-detached 1, , ,619 Total Townhouse Source: CMHC Starts and Completions Survey , ,231 Total 1, , ,49 Total Apartment Percentage of annual housing completions by type, Key trends During the past five years there were 16,359 housing completions in Halton. 3,49 units were completed in 216, an increase of 1,178 units since 215. Apartment units represent the highest unit type completions in 216, followed by single and semidetached units. The number of apartment completions have doubled since 215. Apartment unit completions appear to follow a mostly transverse pattern, with an increase one year followed by a decrease the following year. This may be attributable to construction time often exceeding one year from start to completion. Completion of townhouse units in 216 has increased since 215, but is still lower than the annual completions of 212 to 214. Completion of single and semi-detached dwelling units slightly increased since Year Average Apartment 26.3% 18.7% 36.1% 26.8% 41.1% 3.1% Townhouse 24.6% 4.4% 27.4% 24.8% 21.1% 27.6% Single & Semi 49.1% 4.9% 36.5% 48.4% 37.8% 42.3% 216 State of Housing Report 7

10 Halton Housing Completions by Type, , 4, 2, 1996 All Unit Types Single & Semi-detached Source: CMHC Starts and Completions Survey Townhouse & Apartment 216 Long-term trends: Unit type Over the 2-year period of , there were 79,586 housing completions in Halton. During this 2-year period, single and semidetached units accounted for 6 per cent of completions, while townhouses and apartments combined accounted for 4 per cent of housing completions since The trend line for single and semi-detached housing completions has been on a decline since 24. Townhouse and apartment completions combined represent more than 5 per cent of all completions since 211. Housing Completions Over Time, , Long-term trends: Local Municipalities 2, 1, Burlington Halton Hills Milton Oakville 216 From 1996 to 21, Oakville and Burlington accounted for the largest share of housing completions in Halton. Starting in 21, the number of completions grew significantly in Milton with the provision of lake-based water servicing. Milton had the most completions of any Local Municipality from 27 to 214. In 215 and 216, Oakville had the highest number of completions. Source: CMHC Starts and Completions Survey Under Construction by Local Municipality, Single Semi Row Apt & Other Total Burlington ,37 1,111 Halton Hills Milton ,19 Oakville ,3 2,437 Halton Total 1, ,714 4,799 Key trends: Majority of the unit types under construction at the end of 216 were apartments, followed by single detached dwellings. Oakville had the highest number of units under construction at the end of 216 (5.7 per cent of the total 4,799 units under construction in Halton). It is anticipated that this trend will lead to Oakville having the highest number of completions in 217. Burlington had the second highest total units under construction at the end of State of Housing Report

11 Housing Completions by Local Municipality City of Burlington, Total Total Total Total Total 22 Key trends: There were 2,57 completions from 212 to 216 (15.3 per cent of all completions in the Region) per cent of these completions were townhouse and apartment units (Regional target is 5 per cent). 271 units were completed in 216, representing the lowest number of completions since 212. It is anticipated that completions will increase in future years due to an almost doubling in the number of starts (79) and units under construction (1,111) in 216 (see page 8). The total number of single, semi-detached and townhouse unit completions decreased to the lowest number since 212 (83), with apartments comprising the majority of completions (53.9 per cent). Single & semi-detached Townhouse Source: CMHC Starts and Completions Survey Apartment Percentage of annual housing completions by type, Year Average Apartment 24.9% 54.9% 75.1% 51.5% 69.4% 53.9% Townhouse 25.6% 26.9% 12.1% 19.6% 8.1% 19.6% Single & Semi 49.5% 18.2% 12.9% 28.9% 22.5% 26.5% Total Single & semi-detached Total Total Townhouse Source: CMHC Starts and Completions Survey Town of Halton Hills, Total Apartment Total Key trends: Halton Hills accounted for 6.5 per cent of regional housing completions from (1,55 completions) per cent of these completions were townhouse and apartment units (Regional target is 5 per cent). 291 units were completed in 216, an increase from percent of the unit completions were single detached dwellings in 216. Since 212, 73.8 per cent of completions have been single detached units. This type of housing form continues to dominate the Halton Hills housing market. Since 212, no apartment units have been completed. Higher density housing in Halton Hills is exclusively related to townhouse units. However, at the end of apartment units were identified as under construction, the most apartment development activity since 21 (see page 8). Percentage of annual housing completions by type, Year Average Apartment.%.%.%.%.%.% Townhouse 26.% 37.9% 31.9% 4.1% 22.3% 25.6% Single & Semi 74.% 62.1% 68.1% 95.9% 77.7% 74.4% 216 State of Housing Report 9

12 Town of Milton, , 4 1,5 5 1, ,882 Total 1,733 Total 1,494 Total Single & Semi-detached Townhouse Total 1,56 Total Apartment Key trends: Milton had a total of 6,84 completions between 212 and 216 (41.8 per cent of completions in the Region during this time) per cent of these completions were townhouse and apartment units (Regional target is 5 per cent). 1,56 units were completed in 216, an increase of 56.4 per cent since 215. This increase is primarily caused by the increase of apartment completions, a jump that appears to occur every other year since 212. It is anticipated that the total number of unit completions will continue in 217, as the number of units under construction in 216 (1,19) were similar to 215 (1,184) (see page 8). Single and semi-detached units comprised much of Milton s housing completions on average from 212 to 216, followed by townhouses. Source: CMHC Starts and Completions Survey Percentage of annual housing completions by type, Year Average Apartment 21.3% 5.7% 26.4% 9.5% 32.4% 19.% Townhouse 26.6% 47.9% 38.1% 28.3% 2.6% 33.7% Single & Semi 52.2% 46.4% 35.5% 62.2% 47.% 47.3% Town of Oakville, , 1, , ,331 Total Total ,192 Total Total ,791 Total Key trends: There were 5,957 completions in Oakville from (36.4 per cent of completions in the Region during this time period) per cent of these completions were townhouse and apartment units (Regional target is 5 per cent). A total of 1,791 units were completed in 216, representing an increase of 81.6 per cent from 215. This reflects the large number of units there were under construction at the end of 215 (2,788) per cent of the completions in 216 were apartments and townhouses. A total of 2,437 units were under construction at the end of 216 (see page 8) per cent of these were apartments (1,3 of all units under construction at the end of 216). It is anticipated that similar completion trends will continue into 217. Single & Semi-detached Townhouse Source: CMHC Starts and Completions Survey Apartment Percentage of annual housing completions by type, Year Average Apartment 35.4% 26.3% 36.3% 33.5% 48.7% 38.3% Townhouse 21.3% 33.7% 21.1% 28.1% 23.1% 24.3% Single & Semi 43.3% 4.% 42.5% 38.4% 28.2% 37.4% State of Housing Report

13 The State of Housing report reviews new and resale house sales to assess how well the market is meeting the housing needs of Halton residents and those looking to live in the Region. Halton Region s Housing Affordability Target calls for at least 3 per cent of new housing units produced annually in Halton to be at or below the affordable threshold. Housing Affordability Target 3% Target 34.1% 34.1 per cent of new house sales and assisted units fell within Halton s affordability target. In 216, Halton Region met the 3 per cent affordability target for the fourth consecutive year. Highlights - Halton Region % Change Housing Costs & Affordability An adequate supply of new affordable housing units is an important element in Halton s vision for sustainable growth, as set out in the Regional Official Plan. In 216, 34.1 per cent of new house sales and assisted units fell within Halton s affordability target. Housing Sales, 216 In 216, there were 13,72 new and resale houses sold in Halton. This represents a 7.6 per cent increase compared to 215. The following table shows the distribution of new and resale units by dwelling type: Housing sales in Halton Region, 216 New Resale Total Apartment % 1, % 1,756 Townhouse % 2, % 3,48 Semi-detached % % 784 Single % 6, % 7,682 2, % of all sales 11, % of all sales 13,72 New Sales 1,871 2, % Source: Calculated from MPAC sales data, 216 Resale 1,868 11, % All Sales 12,739 13, % Affordable New Sales % New sales (2,155 units) were up 15.2 per cent compared to 215 (1,871 units). This may be related to the increase in the number of housing completions in 216. Apartment and townhouse units accounted for 52.1 per cent of new sales. This was 57.2 per cent in 215. Given the steady increase of higher density housing in the market place, it is expected that resale data will reflect this trend over time. New Assisted Program 2 33* % 1 This data is based on the closing date, when ownership of the property is transferred to the buyer. 2 New assisted program units are captured at time of funding commitment. * The number of new assisted program units in 215 was revised to 33 since 7 units materialized in 216. Source: Calculated from MPAC sales data, State of Housing Report 11

14 New & Resale Average House Prices Total unit sales by dwelling type & municipality 6, 5, 4, 3, 2, 1, Oakville Burlington Milton Halton Hills Oakville Burlington Milton Halton Hills The average price of all house sales in 216 was $727,467 (up 18.4 per cent compared to 215). The average price of all new house sales (2,155 dwellings) was $66,626 (up 11.2 per cent). Average resale price by municipality in 216 was: Oakville: Burlington: Milton: $965,64 (+21.5%); 4,24 units $631,54 (+14.8%); 3,666 units $619,792 (+16.6%); 2,549 units Halton Hills: $616,32 (+15.2%); 1,92 units Oakville saw the largest number of transactions and a 21.5 per cent increase in resale price since 215. Townhouses and apartments (new and resale combined) sold for $463,559 on average (up 12.2 per cent). Single and semi-detached houses (new and resale combined) sold for an average of $89,687 (up 19. per cent) and represented 62 per cent of all sales in Halton Region. As such, this category continues to have a significant impact on the average house prices in Halton. Total Sales 5,33 3,876 3,191 1,332 Apartment New & resale housing prices ($ thousands), 216 Townhouse 1,261 1, Single/Semi 3,221 2,21 1,994 1,41 5, 4, Oakville and Burlington continue to record the largest proportion of sales. Most municipalities experienced a slight increase in the number of resale units compared to 215 (6.2 per cent Region-wide). Compared to 215, the number of new sales increased in Oakville (21.8 per cent), Milton (12.8 per cent) and Halton Hills (275 per cent) and decreased in Burlington (42.5 per cent). 3, 2, 1, Resale units accounted for 95 per cent of sales in Burlington, 82 per cent in Halton Hills and 8 per cent in Oakville and Milton. Lower density forms of housing (single and semidetached dwellings) comprise the bulk of Halton s existing housing stock, which is reflected in the resale data for these dwelling types (67.8 per cent in Oakville, 57.8 per cent in Burlington, 62.1 per cent in Milton and 78.4 per cent in Halton Hills). <$1 $1 - $199 $2 - $299 $3 - $399 Resale $4 - $499 $5 - $599 $6 - $699 $7 - $799 New >$8 Source: Calculated from MPAC Sales Data, State of Housing Report

15 New Affordable Housing by Dwelling Type & Municipality In 216, there were 2,155 new units sold in Halton, up 15.2 per cent compared to 215. The following tables show the distribution of the 2,155 new housing units by dwelling type, affordability and municipality. New housing sales by dwelling type, 216 Halton Region $369,4 > $369,4 Apartment 53.% 8.4% Townhouse 46.9% 21.3% Semi-detached.% 2.4% Single.1% 67.9% 689 units 32.% of total new sales 1,466 units Key trends: 99.9 per cent of affordable new sales in Halton Region are comprised of townhouses (46.9 per cent) and apartments (53. per cent), indicating a link between higher density housing and affordability. The vast majority of apartment units are one and two bedroom. In Halton Region 32 per cent of new sales were below the affordable threshold (689 of 2,155). This ratio is used to determine the 3 per cent Housing Affordability Target achievement (not including new assisted program units). The average price of the 689 units sold below the affordable threshold was $3,857. New housing sales by dwelling type, 216 Town of Oakville $369,4 > $369,4 Apartment 46.6% 2.4% Townhouse 53.4% 2.5% Semi-detached.% 1.9% Single.% 57.2% 479 units 45.1% of total new sales 584 units Key trends: 45.1 per cent of new sales in Oakville were below the affordable threshold (479 of 1,63) per cent of Halton s total new sales were in Oakville (1,63 of 2,155) per cent of Halton s affordable new sales were in Oakville (479 of 689). The majority of new units that were sold beyond the affordability threshold were single detached houses (57.2 per cent). 216 State of Housing Report 13

16 Burlington new housing sales by dwelling type, 216 $369,4 > $369,4 Apartment 19.7% 2.2% Townhouse 8.3% 29.9% Semi-detached.% 4.5% Single.% 63.4% 76 units 36.2% of total new sales City of Burlington 134 units Key trends: 36.2 per cent of new sales in Burlington were below the affordable threshold (76 of 21) per cent of Halton s total new sales were in Burlington (365 of 1,871). 11. per cent of Halton s affordable new sales were in Burlington (76 of 689). The majority of new units that were sold beyond the affordability threshold were single detached houses (63.4 per cent). New housing sales by dwelling type, 216 $369,4 > $369,4 Apartment 96.2%.2% Townhouse 3.8% 19.2% Semi-detached.% 3.5% Single.% 77.1% Town of Milton Key trends: 2.6 per cent of new sales in Milton were below the affordable threshold (132 of 642) per cent of Halton s total new sales were in Milton (642 of 2,155) per cent of Halton s affordable new sales were in Milton (132 of 689). 132 units 2.6% of total new sales 51 units Town of Halton Hills New housing sales by dwelling type, 216 $369,4 > $369,4 Apartment.%.% Townhouse 5.% 22.7% Semi-detached.%.4% Single 5.% 76.9% 2 units.1% of total new sales 238 units Key trends:.1 per cent of new sales in Halton Hills were below the affordable threshold (2 of 24) per cent of Halton s total new sales were in Halton Hills (24 of 2,155)..3 per cent of Halton s affordable new sales were in Halton Hills (2 of 689). It is important to note that resale price increases have outpaced household income increases over time. As a consequence, units that are captured as affordable new sales (based on the Halton Housing Model) may be resold beyond the affordable threshold in later years, as these transactions take place in the open market. Halton Region and the Local Municipalities do not have the ability to influence market resale prices State of Housing Report

17 Rental housing is an important form of affordable housing for many of Halton s residents. Highlights - Halton Region Average Rent (private townhouse and apartment) % Change $1,25 $1, % Bachelor $878 $ % 1 Bedroom $1,118 $1, % 2 Bedroom $1,281 $1, % 3+ Bedroom $1,448 $1, % Rental Housing Vacancy Rates & Monthly Rent Vacancy rates are one important measure to assess the health of the rental market. According to Canada Mortgage Housing Corporation (CMHC), a vacancy rate of at least three per cent (three for every one hundred units) is considered necessary for adequate competition and housing options. To protect the rental housing stock in Halton, the Regional Official Plan policies require that Local Municipalities use a rental housing vacancy rate of three per cent as the minimum threshold to consider permission for the conversion of existing rental housing to ownership tenure, to other uses, or for the demolition of rental housing. Halton Region s overall vacancy rate for private apartments and townhouses decreased to 1.3 per cent in 216 from 1.4 per cent in 215. This is the lowest vacancy rate compared to other Regional Municipalities in the Greater Toronto Area. Halton s vacancy rate may make it difficult for households searching for rental housing to find a suitable unit. Total # of (private townhouse and apartment) 16,117 16,122.% Rental market vacancy rates, 216 Durham Region 1.9% Bachelor % 1 Bedroom 4,854 4, % 2 Bedroom 8,735 8,736.% York Region Peel Region Halton Region %.5% Source: CMHC Rental Market Report, % 1.4% 1.3% 1.% 1.5% 2.% 3+ Bedroom 2,232 2,22-1.3% Rental housing costs, 216 Source: CMHC Rental Market Report, Note: Average rents and vacancy rates in the 215 State of Housing report were based on private apartments only. The 211 National Household Survey indicates that there were 3,34 renter households in Halton (17 per cent of all households). More than half (53.1 per cent) were living in purposebuilt rental apartments and townhouse units, as captured in the table above. The remainder of renter households are likely living in single and semi-detached units including secondary suites townhouses, condominium rental apartments and other rental arrangements. Data in this section only relates to purposebuilt rental housing. Average monthly rent is another means to measure the health of the rental market. The average monthly rent of private townhouse and apartments increased to $1,29 in 216 from $1,25 in 215. When compared to other Regional Municipalities in the Greater Toronto Area, Halton s average monthly rent ranks highest. Halton Region Peel Region York Region Durham Region $ $3 $6 $9 $1,2 $1,5 Source: CMHC Rental Market Report, 216 $1,14 $1,29 $1,232 $1, State of Housing Report 15

18 Vacancy rate by unit size in Halton for private townhouses & apartments, Vacancy rates have been on a decreasing trend for bachelor and 1 bedroom rentals since 214. The vacancy rates for 2 bedroom and 3+ bedroom decreased slightly since 215. However, vacancy rates for all rental units remained below 1.4 per cent. Unit Type Bachelor 3.2%.4% 3.2% 2.% 1.4% 1 Bedroom 3.% 1.7% 2.% 1.3% 1.1% 2 Bedroom 2.8% 1.6% 1.4% 1.5% 1.4% 3+ Bedroom 2.9% 1.7%.6% 1.3% 1.2% Overall rate 2.9% 1.6% 1.5% 1.4% 1.3% Source: CMHC Rental Market Report, 212 to 216 Vacancy rates by Local Municipality for private townhouses & apartments, Vacancy Rate (%) Halton Region Burlington Halton Hills Milton Oakville Source: CMHC Rental Market Report, 212 to 216 The vacancy rates for townhouses and apartments among the Local Municipalities were as follows: Oakville: 1.7% Milton: 1.8% Burlington: 1.1% Halton Hills:.6% The vacancy rate for townhouses and apartments in Halton Hills decreased from 1.8 per cent in 215 to.6 per cent, the lowest of all Local Municipalities. Burlington's vacancy rate also decreased by.6 per cent to 1.1 per cent. Vacancy rates in Oakville and Milton increased to 1.7 per cent, and 1.8 per cent in 216, respectively State of Housing Report

19 Average rents (townhouse & apartment) & total units by housing type in Halton, Average Rent Total Average Rent Total Average Rent The average townhouse and apartment rent across all unit types has been steadily increasing over the past five years. In 216, Halton s rent ranged from $1,515 for 3+ bedrooms, to $1,158 for 1 bedroom units (not including the very limited number of bachelor units). The highest change in rent occurred in 3+ bedroom unit types from 215 to 216 (at 4.6 per cent). The average rent across the Region increased 3.2 per cent. As indicated, these averages do not include condominium rental units or any other rental accommodation that is not purpose-built. The average market rents for Halton Region are slightly above the assisted rental threshold identified in Halton s Housing Model. The total number of private townhouse and apartments increased in 216 by 5 units. This reflects ongoing trends of very little purpose built rental being added to the housing stock in Halton Region. The greatest number of unit types in Halton are 2 bedroom, followed by 1 bedroom. Little stock exists in the form of bachelor or 3+ bedrooms. Total Average Rent Total Average Rent Bachelor $ $ $ $ $ Bedroom $1,158 4,888 $1,118 4,854 $1,78 4,766 $1,32 4,767 $1,5 4,766 2 Bedroom $1,318 8,736 $1,281 8,735 $1,229 8,75 $1,185 8,687 $1,159 8, Bedroom $1,515 2,22 $1,448 2,232 $1,42 2,236 $1,355 2,24 $1,314 2,249 Average rent (townhouse & apartment) & total units by unit type and Local Municipality, 216 Total Total $1,29 16,122 $1,25 16,117 $1,21 16,5 $1,154 15,984 $1,129 15,844 Source: CMHC Rental Market Report, 212 to 216 $99 $1,158 $1,29 $1,476 Burlington 19 1,528 2,873 5,388 $977 $1,214 $1,412 $1,632 Oakville ,464 2,522 $1,13 $1,254 N/A N/A Milton $1,528 $917 $1,14 $697 Halton Hills , Oakville and Burlington have the highest average rent in the Halton Region, similar to previous years. Rent increases in 216 compared to 215 were as follows: Burlington: 2.1% Milton: 4.6% Oakville: 5.5% Halton Hills: 1.6% 1,5 1, 5 Average Rent ($) Source: CMHC Rental Market Report, 216 Bachelor Burlington has the largest number of purpose built rental units among all the Local Municipalities, representing 61.4 per cent, followed by Oakville with 29.5 per cent. Oakville saw a.5 per cent increase in the number of units in the purpose built rental universe from 215 to 216, while Burlington saw a.2 per cent decrease. Milton and Halton Hills experienced no change. 1, 1 Bedroom 2 Bedroom 3+ Bedroom 2, 3, 4, 5, 6, Total 216 State of Housing Report 17

20 This section focuses on the nonmarket side of the housing continuum where government-funded programs and services are needed to enhance affordability for Halton s residents (see page 2). Halton Region plays a direct role in the assisted housing area, recognizing that people move back and forth across the housing continuum, depending on their personal circumstances. Assisted Housing Assisted housing plays an important role in helping low and moderate income individuals and families obtain housing that is stable and secure. Assisted housing mostly relates to rental accommodation, but also includes homeownership assistance when government funding is used. The assistance may come in the form of capital programs, operating subsidy to housing providers and rental subsidy to eligible households. Assisted Housing Administered by Halton Region Halton Region administers 4,299 assisted rental housing units. Most of these units are governed under social housing legislation (3,997 or 93 per cent). The 4,299 units are located in 58 housing communities, owned and operated by 28 non-profit co-operative and private sector housing providers, including Halton Community Housing Corporation (HCHC). Halton Region provides rent-geared-to-income (RGI) assistance to 3,261 households living in these communities. RGI recipients are selected from the Halton Access to Community Housing (HATCH) wait list. New Assisted Housing Opportunities Since 28 As reflected in the graph on page 19, Halton Region has created a total of 1,367 new housing opportunities since 28, including: 44 new rental units (including 216 funding commitments for the creation of 69 unit acquisitions for rent); more than 8 additional rent supplements and Halton In-situ Program (HIP) housing allowances; and various emergency and transitional housing solutions. Halton Region s Comprehensive Housing Strategy Update (CHS) sets a 1-year target to create 55 to 9 housing opportunities (new units and rent supplements / housing allowances). More than $1 million in Regional multi-year funding is projected to enable the creation of 55 housing opportunities, with the understanding that the upper target of 9 can only be achieved with additional funding from federal and provincial governments. In addition, Halton Region s Strategic Action Plan identifies the delivery of new assisted housing opportunities as a key priority State of Housing Report

21 Halton Region utilizes the following delivery models for the creation of new housing opportunities under the CHS: Halton s Assisted Housing Framework (AHF), including a stream that enables Halton Region to purchase units for rent (69 units acquired in 216) and a stream to encourage the creation of secondary suites. The Investment in Affordable Housing for Ontario 214 Extension program (IAH-E) and 216 Social Infrastructure Fund (SIF), including capital assistance for the creation of rental housing and secondary suites, as well as down-payment assistance to homeowners (through Habitat for Humanity). The Halton In-situ Program (HIP), providing Halton applicants on the HATCH waitlist with a permanent, portable monthly housing allowance. The Halton Rent Assistance Program (HRAP), providing rent supplements that are in part used to enhance affordability of rental initiatives under AHF and IAH-E. The supplements are also used to support new innovative housing initiatives in the community. New assisted housing opportunities in Halton (total cumulative new opportunities since 28) Housing opportunities 1, , Year Halton In-situ Program (HIP) The Halton In-situ Program (HIP), launched in the fall of 214, provides an income tested housing allowance (ranging from $25 to $85 per month) to qualified Halton applicants on the HATCH waitlist. The program is designed as a permanent and portable housing solution. The target is to provide at least 29 allowances by 219. In 216, 78 additional HIP housing allowances were provided to Halton residents on the HATCH waitlist. As of December 31, 216, 229 Halton households were in receipt of HIP. This number continues to grow. Rent Supplement Halton Region operates various rent supplement programs in partnership with private-sector landlords. Under these programs, eligible households are sourced from the HATCH wait list and receive rental assistance. In 216, Halton Region acquired an additional 58 rent supplement housing opportunities. Taking into account reductions in time limited Provincial funding, the rent supplement total at the end of 216 was 614, including 197 funded through the Halton Rental Assistance Program (HRAP). This program was created in 212 and provides Halton Region with additional options to enhance the affordability of new housing initiatives. 216 State of Housing Report 19

22 Special Needs Housing Special needs housing includes housing that is accessible for people living with physical disabilities and housing that is tied to the provision of personal supports (supportive housing). In 216, Halton Region administered 267 wheelchair accessible units (of which 226 can be accessed through the HATCH wait list). It is estimated that more than 3, Halton residents are living with physical difficulties that could impact their housing needs (Canadian Survey on Disability, 212). While changes to the Ontario Building Code (OBC) and the Accessibility for Ontarians with Disabilities Act (AODA) have further enhanced barrier-free building design requirements in Ontario, there is a shortage of statistical data on the specific need for and production of accessible and adaptable housing units in the marketplace. This shortage can make it difficult for a municipality to know whether current policies and frameworks are sufficient to address the need. In 216, Halton Region continued to update its Assisted Housing Design Guidelines, including requirements related to accessibility. These guidelines are designed to inform the Region s new housing initiatives. Homelessness The primary causes of homelessness and the need for emergency shelter relate to unaffordable rents, mental health and addiction issues, family breakdown and loss of employment. Halton Region operates and/or administers various support programs to proactively address these situations. Initiative Emergency Shelter Housing Stability Fund Halton Housing Help Housing First Housing with Related Supports 216 Achievements 87 single clients were served (32 emergency shelter beds for singles supported by Salvation Army and the Canadian Mental Health Association) 113 families were served (27 beds in 12 apartments for family emergency shelter) 1,725 housing crisis situations were resolved through outreach and funding, including rental deposits, rental arrears, utility cost arrears, eviction, moving/storage costs and provision of essential furniture/beds 1,897 clients were assisted with finding affordable rental housing in the private marketplace and an additional 224 clients received intensive customized supports 9 homeless households, including 14 individuals were assisted with the provision of permanent housing with individualized support services 152 subsidized beds across the Region were made available by the Region, operated by housing providers who provide supports to residents at risk of homelessness State of Housing Report

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THAT Council receives for information the Report from the Planner II dated April 25, 2016 with respect to the annual Housing Report update.

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