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Niagara Residents Face a Growing Affordability Crisis Amid Positive Quality of Life Ratings
The Niagara Region continues to stand out as a desirable place to live, especially for families. A recent survey conducted by Nanos Research reveals that residents in St. Catharines, Niagara Falls, and surrounding areas give the region high marks as a family-friendly and safe community. St. Catharines and Niagara Falls each scored an average of 7.1 out of 10 as places to raise a family, with the rest of the Niagara Region rating even higher at 7.6 out of 10. The region also received positive scores for safety, averaging 6.7 in St. Catharines and 7.1 in Niagara Falls and other areas.
Despite these positive perceptions, housing affordability casts a shadow over the region’s appeal. Residents rated Niagara poorly as a place to buy a home, with scores of 4.4 in St. Catharines, 4.7 in Niagara Falls, and a dismal 4.2 in other parts of the region.
Affordability Challenges Impact Young Buyers and First-Time Homeowners
One of the most alarming findings from the survey is the impact of rising housing costs on young buyers and first-time homeowners. A staggering 89% of respondents believe it’s harder for young people and first-time buyers to afford a home in Niagara today compared to five years ago. This sentiment reflects the growing frustration among residents who feel the dream of homeownership is slipping further out of reach.
Additionally, one in three residents (33%) say they are considering leaving Niagara for more affordable regions. While the majority (63%) still plan to stay, the fact that such a significant portion is contemplating a move underscores the urgency of addressing affordability.
A Call for Action
These findings highlight a critical need for solutions to tackle the housing crisis. As Niagara continues to attract families and maintain its reputation as a safe and vibrant community, ensuring that housing remains accessible for all is vital to its long-term growth and sustainability.
Bold measures, like those proposed in the Niagara Association of REALTORS®’ 5-point plan, could pave the way for more affordable homes and a brighter future for residents. From harmonizing housing regulations to lowering development charges, the time to act is now.
Niagara’s charm and livability make it a great place to call home, but without affordable housing options, many residents may find themselves forced to look elsewhere. Local leaders must rise to the challenge to keep Niagara a thriving, inclusive community for generations to come.
Want to dive deeper into these survey findings and the proposed solutions? The full article, including more insights and details on potential solutions, is available below. Don’t miss the opportunity to stay informed and be part of the conversation!
