Diverse and affordable housing stock is critical to accommodating growth and supporting the region’s population. Affordable, purpose-built rental housing is an essential component of the regional housing continuum, offering security of tenure to the many renter households in the region. The purpose of this performance measure is to monitor progress towards the regional target that at least 15% of newly completed housing units in Urban Centres (UCs), Frequent Transit Development Areas (FTDAs), and Major Transit Growth Corridors (MTGCs) be affordable rental housing by 2050.
Key performance measure
Metro 2050 establishes the performance measure as the percentage of newly completed housing units built within UCs, FTDAs, and MTGCs that are affordable rental housing units. It will be monitored annually until 2050, with a more comprehensive report published every five years when new Census data becomes available.
Progress
The purpose of this key performance measure is to monitor progress towards the regional target. Metro 2050 aims to encourage policy actions that progress the development of new affordable rental housing units in transit-oriented geographies. Between 2018 and 2023, 2.3% of newly completed housing units in these areas were affordable rental housing. Performance is being monitored at the regional scale for all UCs, FTDAs, and MTGCs combined.