{"id":72203,"date":"2024-06-11T07:00:14","date_gmt":"2024-06-11T11:00:14","guid":{"rendered":"https:\/\/www.centraide-mtl.org\/?post_type=medianews&p=72203"},"modified":"2024-06-11T07:52:07","modified_gmt":"2024-06-11T11:52:07","slug":"residual-income-measure","status":"publish","type":"medianews","link":"https:\/\/www.centraide-mtl.org\/en\/media\/residual-income-measure\/","title":{"rendered":"Residual income measure"},"content":{"rendered":"\n

Housing crisis: Renters in a worse situation, but civil society is taking action toward solutions<\/strong><\/h4>\n\n\n\n

Montreal, June 11, 2024 \u2013<\/strong> With just a few weeks to go before July 1, renters are continuing to face a difficult housing situation that is particularly affecting people who live on a low income. This is the finding from the latest data of Centraide of Greater Montreal\u2019s most recent residual income measure<\/a> (in French only<\/em>).<\/p>\n\n\n\n

This annual indicator combines several data points to track how people\u2019s incomes can cover their living expenses.and determine how much is missing from their budgets to cover the essentials. This year, the minimum annual income that Greater Montreal renters need in order to meet their basic needs (for housing, food, clothing and transportation) is $31,000. According to the residual income measure, approximately 310,000 households\u2014an estimated 18,000 more than last year\u2014do not make enough to pay for their basic needs.<\/p>\n\n\n\n

Centraide of Greater Montreal created the residual income measure in May 2023 with McKinsey & Company. This firm provided pro bono services to establish indicators to track changes in Greater Montreal\u2019s housing situation for Together for Housing<\/a>, an event that brought together stakeholders from the general public as well as the three levels of government. Since then, Centraide has continued to work with a broad variety of partners to identify solutions, and often innovative ones, that have emerged from civil society. <\/p>\n\n\n\n

\u201cHigh housing costs and the current shortage have increased people\u2019s needs and in turn put pressure on the community sector,\u201d said Claude Pinard, President and Executive Director of Centraide of Greater Montreal. \u201cWe have increased our financial support for housing committees to help thousands of tenants who are dealing with housing problems, which have a domino effect on other social issues, such as mental health, child development, domestic violence, and homelessness. It is imperative that we keep pooling our solutions in order to tackle this human crisis.\u201d<\/p>\n\n\n\n

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Civil society takes action <\/strong><\/strong><\/p>\n\n\n\n

Key stakeholders from the public, private and community sectors, as well as regular citizens, are mobilizing to find solutions to combat the housing crisis. Below are highlights of initiatives to date:<\/p>\n\n\n

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