Minimum income needed to afford rent in Calgary is "out of control"
A recent report from the Monitor found that the wages needed to afford a one- or two-bedroom apartment in Calgary greatly exceed the city’s minimum wage.
Using data from last year, it found that Calgarians needed to make at least $28.92 per hour to afford a one-bedroom apartment and at least $33.46 per hour to rent a two-bedroom apartment.
These rental wages are significantly higher than the minimum wage for workers in Calgary, with the hourly income needed for a one-bedroom apartment being over $13 more.
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The report calculated the rental wage for neighbourhoods across the country using data from the Canadian Centre for Policy Alternatives. It calculated the rental wage of each city as “the hourly wage required to pay rent while working a 40-hour week, 52 weeks a year, and spending no more than 30% of one’s income on housing.”
In other words, the rental wage is the minimum income you need to afford rent without sacrificing your other basic needs.
The report dubbed rental wages across Canada as “out of control.”
It also examined the percentage of neighbourhoods with affordable rental units for full-time minimum-wage workers and found that nowhere in Calgary met the criteria.
The rental wages needed for a two-bedroom apartment were so high that it even found that the combined income of two full-time minimum-wage workers wouldn’t be enough to afford a two-bedroom place.
Calgary was not the only place with a considerable difference between its minimum wage and the income needed for rent. Other cities that ranked highly for unaffordable rental wages included Vancouver, Toronto, and Victoria.