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Non-profit housing is an economic no-brainer
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this post was submitted on 31 Mar 2025
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I've just skimmed through the report you mentioned (link: https://chfcanada.coop/wp-content/uploads/2022/11/The-Co-op-Difference-report.pdf)
Table 1.3.2 on page 7 of the report (page 18 of the pdf) shows a table comparing co-op rents vs market rents. Not sure if I'm reading it correctly.
It seems like co-op rents are more expensive than market rents in Toronto and Ottawa?
If so I don't know why and couldn't see a reason in the report why that is the case. One thing to note, the report stated rent variation between cities is less in co-op rentals than market rentals. But this reinforces the observation earlier. Some cities have co-op housing being more expensive than market rentals.
I wonder if location in the city plays a role. If more co-op rental units are concentrated in downtown as opposed to the suburbs and if the percentage for market rentals is different.
Coop prices stay fixed over time, that's the big benefit. They don't increase rental rates, because they don't need or want to generate profit.
That's how they become cheaper over time, but you're right, they're often not cheaper the day the open up.
I agree with you on those points but I'm trying to find why in Table 1.3.2 why co-op prices are higher than market rents for Ottawa and Toronto.
You are misreading the very poorly captioned table. The percentages are showing a comparison of the rent of co-ops and market rent against the average in the same category of the five cities in the study. So co-ops are being compared against the co-op average. It's just to show that rent prices of co-ops and market rentals are similarly affected by the markets in the respective cities.