Monthly average rents less than homeownership costs in Calgary yyc
The study by Point2Homes.com, which provides marketing data and solutions for realtors, found homeowners across Canada spend 24 per cent more than renters on housing costs.Sign up to receive daily headline news from the Calgary Herald, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails or any newsletter.
Calgary had the lowest net difference among large cities with the average renter paying about 26 per cent less for shelter costs at $1,404 a month compared with $1,774 for homeowner costs. Montreal had among the highest monthly gap in cost with ownership costing 58 per cent more than renting. The difference between ownership and monthly rents, however, was much wider when the study only looked at homeowners carrying a mortgage.Article content
The cost of ownership in Calgary, for example, was $2,316 a month, or more than 66 per cent higher than monthly rent.The study notes that higher mortgage interest rates are likely forcing more would-be first-time buyers to continue renting, leading to greater demand among rental markets across Canada.
Even before interest rates began rising, 2021 data showed average rents increased by more than 20 per cent from 2016 nationwide, while homeownership costs grew about 14 per cent over the same span.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Applications for 2023 Calgary Stampede parade now open - Calgary | Globalnews.caThe organization estimated more than 305,000 watched the parade in person last year, with thousands more watching on television and online streams.
Read more »
Calgary man charged after allegedly running over victim - Calgary | Globalnews.caA Calgary man has been charged after he allegedly ran over someone with a vehicle while they were unconscious. yyc
Read more »
Family from France desperate to stay in Calgary, fears for lives if deported - Calgary | Globalnews.caMembers of a family living in Calgary are in a desperate race against time to find a skilled job. They are facing deportation unless their temporary work permit can be renewed.
Read more »
Province funds $1.8M for pre-treatment programs for addictions recovery in Calgary - Calgary | Globalnews.caAlberta Mental Health and Addictions Minister Nicholas Milliken announced during a Friday news conference that the money will create 240 new addiction recovery spaces annually.
Read more »
Calgary police warn of winter driving conditions as collisions close roadways - Calgary | Globalnews.caCalgary police are advising against unnecessary travel as snow snarls city streets.
Read more »
Notorious Calgary gangster Michael Roberto back in custody, accused of domestic violence - Calgary | Globalnews.caA Calgary gangster who admitted to playing a part in multiple homicides against rival gang members is back in custody.
Read more »