You need to make nearly double the minimum wage to afford rent in Edmonton

If you rent in Edmonton, money might be tight sometimes. If you follow the 32% rule, we’ve figured out what your hourly wage should be.

The Canadian Mortgage and Housing Corporation recommends spending a maximum of 32% of a person’s income on housing. For renters in most major cities across the country, keeping rent to that amount can be difficult.

A new study from Zoocasa analyzed how much more minimum-wage workers are paying compared to the 32% rule, and it paints a bleak picture for those making minimum wage in Alberta at $15 an hour.

The average rent for a one-bedroom in Edmonton is $1,360, and to maintain the 32% rule, the required hourly wage is $26.15.

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The average rent for a two-bedroom in Edmonton is even rougher: $1,630. To maintain the 32% rule, the required hourly wage is $31.35.

Zoocasa

It’s even harsher for our pals down in Calgary — to afford the average rent of $1,780, a worker must earn about $66,750 annually, or $34.23 per hour, more than double the current minimum wage in Alberta.

The study also found that the minimum wage in Vancouver is $17.40 per hour. Based on the 32% rule, a full-time worker should spend, at most, $905 monthly on rent.

Unfortunately, that is not the reality. The average rent for a one-bedroom apartment in Vancouver is $2,690 — almost three times what a minimum-wage earner can afford.

It’s a similar situation for folks in Toronto. With a minimum wage of $16.55 per hour, a worker should ideally pay no more than $860.60 monthly for rent. However, the average rent for a one-bedroom apartment in Toronto is $2,500, leaving minimum-wage earners well short of the required income to live comfortably in the city.