It's not just buying a home in Windsor. It's getting more expensive to rent too.
The Canada Mortgage and Housing Corporation said half of all rental units in Windsor were out of reach, even for middle-income earners.
The average rent for a two-bedroom apartment in the Windsor Metropolitan Census Area was $1,154 in 2021, an increase of 5.7 per cent from 2020.
A middle-income earner is considered someone who makes around $48,000 annually. Housing is considered affordable if it accounts for no more than 30 per cent of total income.
Its Rental Market Report looked at rental costs in 22 Canadian Cities. It also looked at vacancy rates.
The vacancy rate in Windsor didn't change much between 2020 and 2021. It remained at 3.5 per cent.
While the market added 245 units, the greatest number in more than a decade, demand remained high.
An improving economy and more student renters bolstered demand. Another 2,500 permanent residents, many foreign students, took up residence in the city.
The rising cost of buying a home played a role as well. Fewer people transitioned to homeownership as the average cost of a home in Windsor rose by 30 per cent.
Most of those new apartments were one and two-bedroom units located downtown.
The national vacancy rate held steady at 3.1 per cent between 2020 and 2021. The average rent across all 22 markets was $1,167.
