As May rolls in, Quebec's minimum wage workers will see a modest paycheck increase. The provincial minimum wage is set to rise by $0.50, bringing it to $15.75 per hour. But, according to a new study by the Institut de recherche et d’informations socio-économiques (IRIS), that boost is more of a Band-Aid fix than a cure for the financial woes many face.
To the surprise of no one, the income a single Montrealer needs to live comfortably rose by 9% between 2022 and 2023. That's according to the Institut de recherche et d’informations socioéconomiques (IRIS), which published the 2023 edition of its sustainable income report on May 3. The report identifies the minimum-income residents of seven Quebec cities Gatineau, Montreal, Quebec City, Saguenay, Sept-Îles, Sherbrooke and Trois-Rivières need to live not just above the poverty line but "with dignity."
Well, if you're looking for a new home, an investment property or a new project, there are definitely some steals in Montreal, many of which are for sale for less than $500,000. Although that's still quite costly, finding something for any less is seemingly impossible in today's market. Whether you're on the hunt for a house for yourself, the family or you want a much-needed fixer-upper to snag a sweet profit, these seven homes just might do the trick!
It comes as no surprise that the cost of living has increased exponentially over the last few years, particularly in tie to Canada's rise in inflation, which is the highest it's been in over three decades. Well, Quebec is seeing similar patterns as the province's inflation rate increased to a whopping 6.8% in April 2022. The Institut de la Statistique du Québec released its April update, and the Consumer Price Index (CPI), which measures change over time in the prices paid by consumers for goods and services, increased from 6.7% in March to 6.8% in April 2022.
With an apartment vacancy rate of 3%, there are plenty of Montreal apartments for rent throughout the city. However, the average cost of rent has gone up.
Although Montreal was once upon a time considered an affordable city when it came to housing, it seems as if the cost of living is slowly but surely trying to match those of more expensive cities such as Toronto or Vancouver.