Halifax Housing and Transportation Costs Mirror Toronto

Recent data from Statistics Canada and analyzed by CBC News reveals that in 2024, households in Halifax spent a similar share of their income on housing and transportation compared to cities like Toronto. Approximately half of Halifax households were estimated to allocate 31% or more of their before-tax income to these expenses, while in Toronto, the figure was slightly lower at 30%.

Chris Melnyk, a Halifax realtor, noted that the rising housing costs in the region align with the data findings. He mentioned that there is a common misconception about the affordability of homes in Halifax, with prices significantly increasing in recent years. Melnyk shared that many prospective buyers from outside Nova Scotia were surprised by the high cost of homes in Halifax, leading some to reconsider their relocation plans.

The surge in housing prices was highlighted by Montreal-based musician Rachel Sunter, who witnessed the rapid increase in housing costs during her time in Halifax. Sunter, who eventually moved to Montreal due to rising rent prices, expressed the challenge of transitioning from being a renter to a homeowner in Halifax within just a couple of years.

Statistics Canada’s data indicates that while Toronto households spend a higher portion of their income on housing compared to Halifax, when transportation costs are factored in, the two cities exhibit similar expenditure patterns. The newly introduced Housing and Transportation Cost Index aims to provide a comprehensive view of the cost of living in different areas, highlighting the impact of commuting expenses on overall affordability.

In terms of household expenses, Nova Scotia ranks as the sixth most expensive province for housing costs and the most expensive for transportation costs, positioning the province as the fourth most expensive overall. Senior analyst Marcello Barisonzi emphasized that transportation costs are particularly burdensome for residents in smaller towns.

Data says share of income spent on housing, transportation in Halifax comparable to Toronto

July 3|

Duration 2:28

Recent data from Statistics Canada revealed about half of Halifax households were estimated to spend about 31 per cent or more of before-tax income on housing and transportation. In Toronto, the figure was 30 per cent. Andrew Lam has more.