In a new housing report card, The Conference Board of Canada has dished out a ‘C’ grade to Toronto.

Overall, of the 50 Canadian cities ranked in the report, Toronto claimed the 40th spot.

The rankings were based on three indicators:

• percentage of household income spent on mortgages (which includes only households with mortgages)
• percentage of tenant household income spent on rent (which is based on incomes of those who rent)
• percentage of homes in need of major repair

Toronto was given a ‘B’ for percentage of income spent on mortgages, a ‘C’ for percentage of income spent on rent, and a ‘D’ for percentage of homes in need of major repair — resulting in the overall ‘C’ grade.

Researchers say the findings are no real surprise as small and mid-sized cities generally do better in the housing category because modest demand growth leads to lower home prices.

The top ranked city for housing in Ontario was Oakville, which ranked 4th and had an ‘A’ grade.

The report, City Magnets II: Benchmarking the Attractiveness of 50 Canadian Cities, can be found online at The Conference Board of Canada’s website.