Toronto is increasing rent bank funding by $2.6M to help 600 more households avoid eviction, part of a $10.8M program aimed at keeping residents housed.
Toronto Increases Rent Bank Funding to $2.6 Million
Toronto will provide an additional $2.6 million in funding for its rent bank this year to help residents stay housed in the city, according to Mayor Olivia Chow.
The rent bank is a program that offers grants to assist people with rent, cover arrears, or secure a new home, Chow told reporters at a news conference on Tuesday.
This added funding is expected to help 600 more households. This estimate will bring the total number of households expected to benefit from the program to over 3,000 in 2026.
The city’s total budget for the program this year is $10.8 million.
“Affordability isn’t about keeping costs down, it’s about keeping people in their homes,” Chow said.
“When we invest in keeping people housed, we’re making Toronto more affordable for everyone and we’re preventing the far greater cost of homelessness. We’re making sure that one bad month or one medical emergency or layoff doesn’t destroy the entire family,” she added.
Health Impacts of Housing Stability
Dr. Andrew Boozary, a primary care physician and executive director of the University Health Network (UHN) Gattuso Centre for Social Medicine, also spoke at the news conference. He stated, “housing is good health care” and that stable housing is preventative medicine.
Boozary noted that eviction leads to the “cruelties and real health hazards” of homelessness.
“At University Health Network, we see it every day, patients in the emergency department as the last thread of the social safety net and in our wards — conditions that are really exacerbated and made worse by being subjected to homelessness or the risk of eviction,” he said.
“We see this with asthma exacerbations and either cold or overcrowded, overheated apartments and worsening diabetes outcomes when people are forced with the impossible decision between food, rent, or medication. This health connection is incredibly real and it’s something that thousands of people are facing the risk of every single night,” he added.
New Eviction Prevention Program
The mayor’s announcement follows UHN’s launch of what it calls Canada’s first hospital-based homelessness and eviction prevention program.
Supported by donors, the $1 million eviction prevention program provides one-time rental assistance for low-income UHN patients facing eviction risk. The program was launched in December.
Boozary mentioned that UHN has already seen progress with its eviction prevention program, especially with elderly individuals.
“We’re seeing people in their 80s and early 90s that are not getting access to housing or are facing eviction at that age and that stage of their life with lots of vulnerabilities,” he said.
Community Response
Stacey Semple, spokesperson for the downtown Toronto chapter of the low-income advocacy group ACORN Canada, said the increase in rent bank funding is “wonderful news” for tenants but will not solve the affordable housing problem in Toronto.
“Because all levels of government have ignored the affordable housing crisis over the last 30 years, this is essentially just a small little drop in the bucket,” Semple stated.
However, Semple added that the money is welcome and provides “extra help,” even though much more needs to be done.
| Detail | Information |
|---|---|
| Additional Funding | $2.6 million |
| Total Budget for Rent Bank | $10.8 million |
| Households Helped | 3,000+ by 2026 |
| Eviction Prevention Program Budget | $1 million |
| Program Launch Date | December |
