Rents in Hamilton remain out-of-reach for many

The average rent for a vacant rental unit in Hamilton remains very high. Rentals.ca reports that the average for a one-bedroom unit in August was $1,790, and for a two-bedroom, $2,148. You’d need an income of $71,700 and $85 ,920 for those averages to be affordable (affordable means the rent is less than 30 per cent of gross household income). That’s beyond the reach of about half the population (the median or halfway income for all households in the 2021 Census was $86,000; the median for the 62,000 individuals living alone was only $40,400.) Rents peaked in mid-2023, at $1,901 for a one-bedroom and $2,310 for a two-bedroom, so they have fallen a bit (6 and 7 per cent).