The Regional Affordable Housing Strategy











We have released the new Cowichan Region Affordable Housing Strategy 2010.

Social Planning Cowichan has completed research that has indicated the need for an increase of affordable housing within the region. Their Regional Affordable Housing Directorate has determined the following definition for Affordable Housing (based upon definitions by Canada Mortgage and Housing Corporation, BC Housing and other agencies):

“Affordable housing is safe, secure, stable, accessible living environment that allows a person to live within their income level, and maintain a healthy quality of life. Affordable housing adequately suits the needs of low and moderate-income households at costs below those generally found in the local Cowichan Valley market. It may take a number of forms that exist along a continuum – from emergency shelters, to transitional housing, to non-market rental (also known as social or subsidized housing), to formal and informal rental, and ending with affordable home ownership.

For housing to be affordable a household should not spend more than 30 percent of gross income on shelter costs. The highest priority for affordable housing is for the homeless, marginally housed and “core needs households” that spend more than 50 percent of their income on shelter costs.”

With this definition in mind, Social Planning Cowichan was able to reflect upon the following Fast Facts as they relate to housing and affordability:

FAST FACTS

  • The Cowichan region has seen a 49% increase of resident population since 1986, yet no rental housing has been built since the early 1980’s.
  • The median income in 2006 in the Cowichan Valley Regional District was $28,405 yet the price of purchasing a home in the same year was $339,400.
  • In the same year, 40% of renters were paying more than 30% of their household income for housing and 15% of home owners were paying more than 30% of their
  • The downturn of the economy was most marked from August of 2008. The region saw the loss of resource industry employment opportunities and the drop in the financial markets impacted many families including baby boomers and the retired population.

If the following low-income groups were identified in 2006:

  • 1,014 couple economic families;
  • 100 male lone-parent families;
  • 715 female lone-parent families;
  • 770 persons 65+ years of age;
... then the need for affordable housing existed in 2006.

The changes in the economy and the investment sector has only increased the need for affordable housing. The most recent indicator of need has been food bank activity within the region.


FOOD BANK ACTIVITY
Additional indicators of Affordable Housing needs can be found in the Food Bank Fast Facts.