Item - 2024.PH14.8

The Planning and Housing Committee:

1. Received the report (June 24, 2024) from the Interim Chief Planner and Executive Director, City Planning, for information.

There is a continuous stream of people entering and leaving the city annually, creating varied demand for housing of all types and tenures. The Housing Occupancy Trends bulletin examines the influence of demographic, social and market trends on housing occupancy in Toronto between 2001 and 2021. Ongoing monitoring of household occupancy trends provides background information to support the continued monitoring, review and development of Official Plan policies and can assist other Divisions within the City in the consideration of their programs.

Many of the findings reported in this bulletin are a continuation of trends reported in the previous Housing Occupancy Trend bulletin, published in 2019. Migration continues to be a primary driver of population growth. More people live in mid/high-rises units than before. More people are living alone than before and growth in non-family households is outpacing that of family households. There remains a timing mismatch between demand and supply, and a mismatch between unit size, shelter cost and the current and anticipated demand of younger households in particular. While overall these are not new trends, they are to be viewed more urgently amid the ongoing housing and homelessness crises in Toronto, further exacerbated by the increased cost of living and increased population growth.

The findings on affordability illustrate the growing disparity between housing costs and incomes. These findings are based on 2021 Census data. These are lagging indicators and affordability conditions are likely worse in 2024 due to these demographic drivers, rapid population growth and global events. For example, between 2022-2023, Toronto's population grew by 125,756 people, whereas the average annual growth between 2001 and 2021 was just over 15,500 people per year. This growth may continue due to the Federal Government targeting around 500,000 new permanent residents per year from 2024 to 2026.

In response, the City is undertaking a range of programs and policy initiatives to increase the supply of housing, including affordable and supportive housing, which aims to support those facing structural and systemic inequities to access and maintain safe, affordable and adequate housing in our city. Action across all orders of government and a whole-of-community approach are necessary to ensure a diverse housing stock in terms of size, tenure and affordability is created to meet the needs of the population, particularly in areas with existing services and transit.