The social value cost attributed to housing unaffordability is approximately 1.75 times greater than that of cancer in the GTA. This is a stark indication of the severity of the housing affordability crisis. Moreover, the social value cost related to housing unaffordability aligns closely with the costs associated with diabetes, and represents 76% of the social value cost of heart disease, further emphasizing its extensive impact. These comparisons serve to place the issue of housing affordability in the same realm as some of the most significant health challenges faced by a society.
The Social Value Cost of the GTA’s Housing Crisis
Households spending more than 50% of their income on housing experienced a lower well-being score – comparable to some of the most significant health challenges faced by a society. Watch this video to learn more about the cost of housing on residents.