Since most of the buildings in the 0012.01 tract belong to the CityPlace development, for ease of the discussion, I will refer to this census track simply as CityPlace. Also note that all the data is based on the 2011 National Household Survey.
4% (compared to 20% in Toronto) of the population in CityPlace are under the age of 18. It doesn't look like people who live in condos are very keen on raising a family in a shoe-box.
40% of the population in CityPlace moved during the past year. 86% of residents moved during the past five years prior to the census. In contrast, in Toronto only 13% of residents moved during the past year and 41% during the past five years. However this should not be surprising as CityPlace was just recently built.
50% of households in CityPlace were renters and 50% of the households were homeowners.
47% of owner households spent 30% or more of their household total income on shelter costs. Similarly, 53% tenant households spent 30% or more on housing needs.
The median monthly condo cost of a rented unit was $1,530 and the median monthly homeownership cost was $1,632. It is cheaper to rent than to own at CityPlace.
The median household income was $61,776 (pre-tax) and $51,636 (after-tax) in 2011.
The median value of dwellings was $348,193 in 2011.
The median value of a dwelling was 5.6 times the median income (pre-tax) and 6.7 times the median after-tax income. When the multiple is above 5, housing costs are considered severely unaffordable.
Over 70% of residents live in condo buildings constructed in 2006 or after.
Source of data here.
SEE ALSO: 10 Signs of a Condo Bubble in Toronto
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