Contact(s)
The City of Orillia has been actively involved with Affordable Housing initiatives and continues to support affordable housing with the creation and implementation of the Orillia Affordable Housing Action Plan, soliciting feedback and working towards streamlining its Site Plan Approval process to decrease the time spent on approvals for developers and is in the initial stages of researching the creating of a Homeownership Assistance Program.
A variety of programs and funding have been made available through the Canada Mortgage and Housing Corporation (CMHC) and levels of government to aid low income families and persons including seniors and students, property managers, frontline support agencies and non-profit organizations which will promote an increase of affordable housing options, supply and support.
What does Affordable Housing in Orillia mean?
In 2011, an affordable rent in Orillia was $821.00 per month (not including utilities and parking) and an affordable house price in Orillia was $220,871.31. Over the last 4 years house prices have not increased drastically, in 2015 the average house price is $227,000 (BMA 2015).
The calculation of affordable rents and home ownership are dynamic and subject to change with fluctuations in housing price, interest rates and household income profiles.
Rental Housing Affordability - 2011
The following table compares the two affordable rent measures based on 2011 City of Orillia renter household income and annual rent data. An affordable rent is equal to or less than the current average rent which in 2011 was $821.00.
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Orillia (CA) Affordability Analysis - Renter Households |
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|
Income Percentile |
2010 Income |
2011 |
30% of Annual Gross Household Income |
Average Yearly Rent (October 2011)2 |
|
10% |
$9,858.87 |
$10,056.43 |
$3,016.93 |
$9,852.00 ($821/mth)
|
|
20% |
$15,415.62 |
$15,724.53 |
$4,717.36 |
|
|
30% |
$20,748.05 |
$21,163.81 |
$6,349.14 |
|
|
40% |
$25,921.26 |
$26,440.69 |
$7,932.21 ($661/mth) |
|
|
50% |
$31,048.69 |
$31,670.86 |
$9,501.26 ($792/mth) |
|
|
60% |
$37,712.36 |
$38,468.06 |
$11,540.42 ($962/mth) |
|
|
70% |
$45,630.88 |
$46,545.25 |
$13,963.58 |
|
|
80% |
$55,672.61 |
$56,788.20 |
$16,701.78 |
|
Home Ownership Affordability - 2011
The following table compares the two purchase price metrics based on 2011 City of Orillia household income and housing price data. A housing price at or below approximately $225,100.00 is considered affordable based on the Provincial definition.
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Orillia (CA) Affordability Analysis - All Households3 |
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|
Income Percentile |
2010 Income5 |
2011 |
Affordable Housing Price/Accommodation Cost6 |
Average |
10% Below Average Resale Price |
|
10% |
$18,340.80 |
$18,708.32 |
$62,182.56 |
$245,412.57 |
$220,871.31 |
|
20% |
$28,678.21 |
$29,252.87 |
$97,230.47 |
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|
30% |
$38,598.31 |
$39,371.76 |
$130,863.53 |
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|
40% |
$48,222.21 |
$49,188.51 |
$163,492.37 |
||
|
50% |
$57,760.94 |
$58,918.38 |
$195,832.43 |
||
|
60% |
$70,157.59 |
$71,563.44 |
$237,861.99 |
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1Quote: CMHC
2 Source data: CMHC
3All data is based on the Orillia Census Agglomeration
4Source data: Statistics Canada, 2006 Census
52005 income data was adjusted to 2011 using Bank of Canada's Labour Force - average hourly earnings(Q2) data (calculations performed by TPP)
6Affordable Housing Price was calculated using formula provided by MAH (calculations performed by TPP)
7Source data: CMHC
Canada Mortgage and Housing Corporation has information and programs to assist you.
For more information, please click on their logo and link to their site.
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