Mayor John Tory says he’s open to the city redefining what is considered “affordable” housing amid criticism that hundreds of new units approved each year are only a dream for people struggling to make ends meet.“The definition of affordability depends who you’re asking,” Tory acknowledged Tuesday. “As Toronto gets more expensive, it may be that we have to take a look at that.”Tory’s comments come after a report released this month by the Association of Community Organizations for Reform Now, or ACORN, urged the city to reconsider what’s “affordable.” They also come as Tory campaigns for re-election this fall; his lone policy pitch thus far on housing includes a promise to create a new target of 40,000 new affordable units over 12 years.The city currently defines “affordable” units as those at or below average market rent. Those numbers are reported by the Canada Mortgage and Housing Corp. based on currently occupied units (if units become vacant, landlords can charge whatever they want). In 2018, the average market rent for a one-bedroom was $1,202 a month and $1,426 for a two-bedroom unit. A city analysis concludes that, at average market rent, a household would need to earn just over $52,000 before tax to keep its housing cost to 30 per cent of income, which is a well-established principle.The latest census data from Statistics Canada shows 38 per cent of Toronto households, based on a sample, earn less than $50,000 annually before tax, and more than a third of all homeowners and renters are spending more than 30 per cent of their income on shelter.Read more:Build more diverse housing options to meet demand, Ryerson action plan advisesTenant involved in Parkdale rent strike served with eviction noticesReport outlines ‘ambitious’ housing strategy for OntarioDon Collymore, a member of ACORN, rents a one-bedroom apartment in East York for $1,100 a month and said many ...
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