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More people own, rather than rent, homes in Peel

 Income, earnings and housing statistics from the 2011 National Household Survey (nhs) for the Peel Region reveals some interesting figures. 

Key findings:
After taxes, the median household income in Peel is $34,822 for single-person household and $75,941 for households with two or more people.

Among the GTA municipalities, Peel has the second highest prevalence of people living in low-income (12.6 per cent), with children less than six years old making up 10.2 per cent of this group. 

While high for the GTA, 12.6 per cent is below the provincial and national prevalence of people living in low-income (13.9 per cent and 14.9 per cent, respectively).

Peel residents take home 84.3 per cent of their before-tax income – the highest percentage in the GTA. 

78.2 per cent of Peel’s private dwellings were owned (versus rented) with Caledon having the highest rate of ownership at 91.9 per cent, followed by Brampton and Mississauga at 81.7 per cent and 74.9 per cent respectively.

At 4.2 per cent, Peel has the highest proportion of households in the GTA with three or more household maintainers. A household maintainer refers to a dweller responsible for paying into the housing costs.

Almost one-third (31 per cent) of households in Peel are spending 30 per cent or more of total income on housing, which is a key marker of affordability. 

Peel has the lowest percentage of tenants in subsidized housing in the GTA.

Peel’s median monthly shelter cost for owned homes is the highest in the GTA at $1,590.

64.8 per cent of dwellings in Peel were constructed after 1981, with almost one quarter (24.2 per cent) constructed between 2001 and 2011.

For more information, log on to the website Peeldatacentre.ca

For more information on the Region of Peel, call 905-791-7800, or log on to www.peelregion.ca

Posted: Apr 30, 2014

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