report, which aggregates rents from online listings every month, puts the average monthly rent for a one-bedroom, of all dwelling types in Hamilton, at $1,749 as of October – some 47 per cent higher than the CHMC number.
An industry-accepted measure for affordability estimates that a household income should account for about 30 per cent for accommodations, however, renters in Hamilton with an income of $42,000 are paying more than the $1,049 they should be.Virtually no units were available to low-income renters making in the range of $25,000.
Other pitfalls for young renters include credit checks and lack of rental history information – typical commodities that a youth has yet to build up.
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