Data from the most recent measurement of residual income from Centraide of Greater Montreal reveals that the situation of tenants has further deteriorated, particularly among low-income people.
This annual measurement combines several indicators in order to monitor income to cover current expenses and thus quantify the shortfall in household income.
In 2024, the annual income that tenants must have to meet their essential needs for housing, food, clothing and transportation would amount to $31,000 in Greater Montreal.
Some 310,000 households would therefore not have sufficient income to pay for their basic needs, an estimated 18,000 more than last year.
“The excessively high costs of housing and their current shortage are increasing the needs of the population and thereby, the pressure on the community,” says Claude Pinard, president and general director of Centraide of Greater Montreal, in a press release.
“We have strengthened our financial support for housing committees in order to support thousands of tenants facing housing difficulties,” he adds. These problems have domino effects on other social issues, such as mental health, child development, domestic violence and homelessness. It is imperative to continue adding solutions to address this human crisis.”
Note that Centraide of Greater Montreal created the residual income measurement in May 2023 in collaboration with McKinsey & Company. (NP)
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