Art by Diane Wood
Summary of the 2015 Hotel Report: Our Homes Can’t Wait
CCAP’s annual Hotel Survey and Housing report measures whether low income people can afford to remain living in their community. With about 8,500 low income people in the community surviving on welfare and disability, and about 4,000 on seniors’ pensions, most residents have only about $375- $403 a month for rent. Here is a summary of findings from the 2015 Annual Hotel Report, “Our Homes Can’t Wait”:
- Between 2009 and 2015 the average lowest rents in hotels surveyed increased from $398 to $517.
- Between 2014 and 2015 the average lowest rents increased from $495 to $517.
- The vast majority of privately owned and run hotels now charge more than $425 a month for rent.
- Residents surviving on social assistance of $610 a month and paying the average lowest rent of $517 a month have a mere $93 a month left for food and everything else.
- The rate of change of proposed and approved residential buildings for 2014 to 2015 is 1633 to 1664 new market units to 205-220 units at welfare rate, or about 8 market units for every one unit affordable to people on social assistance or pension.
- Average rents in the eight fastest gentrifying hotels have virtually doubled from $444 a month in 2009 to $905 a month in 2015.
- Average rents in 3 hotels are above $1000 a month and one hotel is advertising a SRO unit on Craigslist for $1500 a month.