Affordable is not one-size-fits-all - what is affordable from one household might not be affordable to another. The Canadian Mortgage and Housing Corporation (CMHC) defines affordable housing as housing that costs no more than 30% of a household's before-tax income.

For example - if my household consists of myself, my partner and our child, and I bring home $1,600 per month and my partner brings home $2,400 per month (before tax) then our household income is $4,000 per month. Our housing would be considered affordable if we pay $1,200 per month or less ($4,000 x 0.3).