Housing in Cobourg, 2019

During the last municipal election campaign, councillors heard that there was a lot of support for affordable housing.  Responding to this, the Town’s budget now has a line item of $250,000 to support housing even though it’s really a county responsibility.  There are two ways people provide housing for themselves: renting and buying a house, and both are a concern.  The rental vacancy rate in Cobourg is 0.3% and the average price of a home in Cobourg is now $455,000, up from $300,000 just four years ago.  According to the Ontario Ministry of Municipal Affairs and Housing, “affordable” rents must be no more than 80% of average market rents.  In Northumberland in 2018, the average rent for a two bedroom… Read complete articleHousing in Cobourg, 2019