Nanaimo's vacancy rate is one per cent as rents continue to increase. (Facebook Marketplace)

By NanaimoNewsNOW Staff

low vacancy

80% of Nanaimo renters living in unaffordable accommodations

Jul 8, 2021 | 5:27 AM

NANAIMO — A new survey has confirmed the grim reality of renting in Nanaimo.

A renter and landlord survey conducted by the City of Nanaimo in April and May showed 79 per cent of renters spend more than 30 per cent of their household income on rent.

Social planner Dave Stewart told councillors on Monday, July 5 this is significantly higher than when 48 per cent of renters who filled out the 2016 census said they spent 30 per cent or more on rent.

“That’s significant because 30 per cent is the threshold used by BC Housing, CMHC and rental experts in general as an affordability calculator. If you’re spending more than 30 per cent of your income on rent, your housing is not affordable.”

More worryingly, 28 per cent of the more than 450 renters surveyed said they spend more than 50 per cent of their income on rent.

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Nearly 30 per cent of renters surveyed said a lack of family-friendly rentals, both as suites and apartments, were a challenge they faced.

Nearly all rental buildings erected in recent years have focused on bachelor, one and two bedroom units, which often isn’t enough for families with more than one child.

Stewart said the City will engage in a family-friendly housing policy strategy sometime in the next two years.

Coun. Ben Geselbracht said this confirms much of what he and other councillors have heard in recent years about Nanaimo’s rental market, where there’s only a one per cent vacancy rate.

Coun. Don Bonner indicated he’d be open to discussing at a higher governmental level tying rental price increases to the property, rather than the tenant, in an effort to keep rents from being raised considerably.

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