The Real Affordability Index
On average young people are losing $750 per month by living in cities across the country. To break even young people would need to isolate themselves- no entertainment, no transportation, and no dining out. With 27 cities, 54 measures, and 2414 data points examined in the Real Affordability Index, we can conclude that this generation is currently still working to afford the toast, let alone the avocado.
Affordability for young people should take into account more than the bare minimum necessary to survive but what it would take to thrive. That’s why we made the Real Affordability Index, to be able to really look at what it costs to live, work, and play in Canadian cities.
Data for the index was collected and examined through measures to represent the diversity of young people living in our cities. Lenses that the data is examined include gender, career, full-time work/part-time work, age cohort, and variations in wage. In partnership with RBC Future Launch, the Real Affordability Index shows that the lack of affordability in Canadian Cities for young people will have ripple effects across the country.