'A housing crisis': 1 in 5 Calgary households couldn't afford costs, city says

A new report from the City of Calgary suggests one in five households are suffering from the high cost of housing.

The City of Calgary says new data on housing affordability suggests many households are on the brink.

The 2023 Housing Needs Assessment, released on Wednesday, reports that approximately 84,600 households – or one in five – couldn't afford their housing costs in 2021.

Given the current market conditions, the city says the situation could be much worse in 2023.

"The findings in the assessment also highlight that the housing crisis is affecting a wide range of Calgarians including those looking to buy or rent a home and those that are in the greatest need of affordable housing supports," said Calgary's manager of housing solutions Tim Ward in a statement.

Some of the other key findings in the assessment include:

• The median cost of a detached home has increased by 37 per cent in the past three years;
• To buy their first detached home, Calgarians would require an annual household income of $156,000;
• To buy an apartment, Calgarians would need to earn at least $70,800;
• Renters would need to earn at least $84,000 to afford average market rent; and
• Affordable housing needs are expected to reach close to 100,000 units by 2026.

"Calgary is experiencing a housing crisis," Ward said.

"The latest data published in the Housing Needs Assessment shows us that an increasing number of Calgarians are struggling with housing affordability."

The report is published every five years and utilizes data from the federal census, the City of Calgary's corporate economics department and the Canada Housing and Mortgage Corporation.

The city uses it as a guide when working with housing providers and other levels of government that help oversee housing developments.