WRCF launches 2023 Waterloo Region Vital Signs® Report focused on Affordable Housing in our community
WATERLOO REGION, ON (October 19, 2023) – Affordable Housing continues to be a critical issue for Waterloo Region. As a result, Waterloo Region Community Foundation (WRCF) has researched and created the 2023 Waterloo Region Vital Signs® report focused specifically on affordable housing to provide more information about this issue that matters to our community; and to help people and organizations across our region turn that knowledge into action.
Released today, the 2023 Waterloo Region Vital Signs® report illustrates how the housing crisis continues to hit our most vulnerable hardest – the young, non-homeowner older adults, newcomers and refugees, those who identify as Indigenous, Black or as a person of colour, those with disabilities, and individuals exiting the child welfare system. This uneven impact deepens social disparities, threatening the cohesion and diversity that makes our community strong.
The data shows us:
Home price to income ratios for Waterloo Region continue to be comparable with some of the most expensive cities in the world
New home and rental unit builds are not keeping pace with population growth
There is a mismatch in the housing that is available – with expanding households and shrinking spaces
Extended households, including multi-generational households, roommates, and other shared households, grew faster in Waterloo Region than any other community in Canada
Affordable units to buy or rent are disappearing
Waterloo Region has the second highest in-migration and out-migration rate in the country
And it is more than just housing. Waterloo Region residents’ sense of belonging and satisfaction with their neighbourhoods is below the national average
“Affordable housing is a shared community-wide concern and has been an area of focus for WRCF since 2019,” says Eric Avner, President & CEO, Waterloo Region Community Foundation. “We are not housing experts, but we hope this report provides new information about what this means for our most vulnerable community members, illustrates some actions that are making a difference, and creates additional momentum for action. Together we can tackle the challenges ahead.”
Waterloo Region’s 2023 Vital Signs® report would not have been possible without the funding provided by our sponsors including Common Good Strategies, Equitable Life of Canada, Maxwell Building Consultants, Waterloo Region Association of REALTORS®, Kindred Credit Union and Libro Credit Union. It was created with the assistance of numerous organizations and people across our community who are actively working to find local affordable housing solutions.
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About Waterloo Region Community Foundation
Waterloo Region Community Foundation (WRCF) collaborates with partners to create sustainable, equitable and thriving communities. We connect regionally and locally, with our three cities and four townships, to include the people and places across our region. We make philanthropy easy for individuals and companies to support organizations and issues they care about. WRCF is focused on Granting, Investing and Convening to make measurable and sustainable impacts. Gifts are directed to WRCF's endowed funds that drive positive change through grants with the income generated being distributed in partnership with Fundholders to support a wide range of charitable causes within our community. We are growing our assets in a socially-responsible way without compromising financial returns, and transitioning to a 100% mission-aligned portfolio. These investments include directing at least 10% of our portfolio to impact investments. As a leading community-building organization we also work to amplify voices and issues of importance by convening conversations and sharing information, while approaching our work with an equity mindset. www.wrcf.ca
About Vital Signs
Vital Signs is a community check-up conducted locally by community foundations across Canada that measures the vitality of our communities and identifies significant trends in a range of areas critical to quality of life. Vital Signs is coordinated nationally by Community Foundations of Canada. The Vital Signs trademark is used with permission from Community Foundations of Canada.
For additional information about this release or to schedule an interview, please contact:
Lynne Short
Vice President, Waterloo Region Community Foundation
519-725-1806 x 204
lynne@wrcf.ca
