Travel + Leisure released its list of the 10 Cheapest Places to Retire in Canada and Quebec City ranked number one, proving itself to be an enticing destination for Canadian seniors.
Renters in Canada may have felt more of a financial squeeze last month as 2023 wrapped up with average rents hitting a new high. According to the latest National Rent Report from Rentals.ca and Urbanation, December saw the average asking rent for all property types reach a record $2,178. That marks an 8.6% increase from the previous year, continuing an upward trend that has seen rents rise by 22% over the past two years, and translating to an additional $390 per month on average for Canadian tenants.
To the surprise of no one, the cost of living has had a major impact on people's spending habits. For many Canadians, prioritizing savings or seeking financial aid has become essential. The Quebec government offers a range of financial aid programs for low-income residents including a solidarity tax credit, social assistance, and the basic income program, to name a few. Additionally, residents have the option of applying to the provincial Shelter Allowance Program, designed to assist those struggling to cover their rent.
To the surprise of no one, the cost of living has had a major impact on people's spending habits. For many Canadians, prioritizing savings or seeking financial aid has become essential. In Quebec, residents have the option of applying to the provincial Shelter Allowance Program, designed to assist those struggling to cover their rent.
Minimum wage workers are increasingly unable to make ends meet in Canada’s rental markets, a new report shows, a struggle only made worse by pressure from higher interest rates.