Cambridge lags behind comparable cities in the shift away from single-detached homes according to a preliminary look at the city's housing needs.
Single-detached homes made up 56.8 per cent of the city's housing stock in 2021, even as the city's population grew at a faster rate than the provincial average.
Population growth in Cambridge was higher than the provincial average from 2016 to 2021 at 6.6 per cent, but lower than the region's growth of 9.7 per cent.
It means housing affordability remains out of reach for many.
These findings and more are being used to paint a picture of the city's housing supply needs over the next decade and are part of a housing needs assessment already underway.
During a meeting Tuesday, Matt Pipe, manager of housing policy and research at SHS Consulting, gave city councillors a progress report on a housing assessment and action plan the Toronto firm is completing for the city.
Cambridge is behind other regional municipalities in getting apartment buildings built taller than five stories. They make up 12.9 per cent of the housing stock in Kitchener and Waterloo while Cambridge's share is only 5.9 per cent.
Cambridge housing stock is also older than the regional average and the rate of repairs is higher.
The housing needs assessment is expected to be completed early next year to meet the requirements of the city's Housing Accelerator Fund (HAF) initiatives with the Canada Mortgage and Housing Corporation.
In order to access the more than $13 million in funding from the federal program, the city needs to undertake a number of strategies outlined in its application to CMHC.
Pipe said the assessment will look at household characteristics, income trends and factors influencing priority population groups.
Affordability is expected to be a major factor driving demand over the next decade, particularly in the rental market where 35.3 per cent of renters face affordability issues compared to 14.8 per cent of owner households.
The latest stats from the CMHC's 2014 -2023 rental market survey show 21.2 per cent of Cambridge households are spending 30 per cent or more of their household income on shelter, a number that's consistent with regional trends.
The strain on affordability affects renters to a greater degree than owner households with 35 per cent of renters facing affordability issues when compared to 15 per cent of homeowners.
The average monthly rent for a one-bedroom apartment in Waterloo Region in 2023 was $1,359 a month.
From 2016 to 2021, renter households made up 12.7 of the Cambridge market and were growing faster than the supply of purpose-built rental units, which only increased 5.2 per cent over that time period in Cambridge.
It has led to a tighter rental market with increased prices and decreased vacancy.
The overall cost of owning a new construction home has grown at a substantial rate, particularly single-detached dwellings.
According to the Canadian Real Estate Association, the average price for a single detached home in Cambridge last month was $775,900.
The national average home price was $696,166 in October 2024, up 6 per cent from October 2023.
On the other end of the housing spectrum, as of this year, there were 959 Waterloo Region Housing units, 585 non-profit housing units, 302 co-operative housing units, and 504 affordable units in Cambridge.
Other statistics expected to inform the housing assessment and action plan is the fact Cambridge has the lowest proportion of households maintained by someone under age 25 in Waterloo region at 1.6 per cent.
Couples with children account for 30.4 per cent of the city's household composition in 2021 followed by couples without kids at 23.1 per cent.
The average household size of 2.7 persons persons in Cambridge was slightly larger than the region and province, as was the proportion of households containing families with children, 30.4 per cent, or multi-generation families, 4.5 per cent.
