Cost Analysis of Homelessness

The report released in 2013 shows homelessness cost of $7.05 billion annually, an increase from $4.5 billion in 2007. The price is inclusive of the emergency shelters and community supports emergency costs, among others.

Further research done in 2005 showed that the costs of Canadian towns and institutional response costs range from $66,000 to $120,000 every year. The price for emergency shelters ranges between $13,000 to $42,000 supportive and transitional housing ranges between thirteen thousand to eighteen thousand dollars while affordable housing costs range from $5,000 to $8,000.

The cost analysis aforementioned fails to consider social and human costs such as health costs as a result of prolonged illness. There are other costs involved when addressing the main population excessively facing homelessness in 2016. The Housing First program is inclusive of resources for each staff. The program reveals exceptional outcomes costing around $536,000 each year, resulting in cost savings on the decrease of 911 calls and emergency shelters.

Persons with mental health issues experience homelessness resulting in an increased cost of $53,144 per year. According to the study, more attention is being paid on reasonable preventative measures that solve social service issues, mental health, and housing needs to the members of the public.

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