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HomeNationalAverage home value in Windsor has doubled in 5 years: Statistics Canada...

Average home value in Windsor has doubled in 5 years: Statistics CanadaTAZAA News

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New census data shows the price of a home in Windsor has doubled in five years, raising concerns about affordability.

“When home prices double in a community and you look at incomes and they don’t double with home prices, it creates challenges for people across the region to get into the housing market,” said researcher and blogger Frazier Fathers. and a podcast host.

The median home value in the City of Windsor was $204,510 in 2016, compared to $410,000 in 2021, according to Statistics Canada.

During that time, shelter costs for tenants — which include rent and basic utilities — also increased. The average monthly cost for Windsor renters has increased by $250 per month.

Lorraine Goddard, chief executive officer of United Way/Centride Windsor-Essex County, said the availability of affordable housing is not keeping up with the need and more needs to be done.

“We see very clearly the work United Way is doing in our priority neighborhoods,” she said. “There’s really more work to be done because it’s going to require…a partnership between the federal, provincial and municipal governments.”

The homeownership rate has remained relatively stable

The homeownership rate in Windsor-Essex has declined slightly in line with the national trend over the past decade, but rates are higher than Canadian and Ontario statistics.

Across Windsor-Essex, 72.5 percent owned their homes in 2021, up from 73 percent in 2016 and 74.3 percent in 2011.

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