Where can Millennials afford to live within the city of Toronto

This research examines housing affordability as it pertains to millennials living in the City of Toronto. It explores literature, resale market data and planning policies to address the affordability crisis of housing in the City. It begins by a literature overview of the various definitions of affordability and examines the different historical economic methodologies used by different levels of Canadian governments. This discussion is followed by a millennial demographic analysis of the City of Toronto as a whole, and of the 25 City Wards. Housing market trends are also discussed by considering central principles and potential implications for housing affordability. An income analysis to determine affordability within select Wards is also addressed using the residual income ratio method and economic market constraints. The paper concludes by addressing the issues of affordable housing through planning policies and makes recommendations for policies that relate to the issue on all levels of government. Key Words: A paper on housing affordability issues in Toronto, used the key words: Housing, Ownership, Rental, Affordable, Resale, Toronto, Millennial, Income