Powassan

Consumer Proposal & Bankruptcy Relief Services

_{Powassan, debt relief, Ontario}

Powassan, Ontario, with a population of 3,569 and a median age of 49.9, faces economic challenges, including low employment opportunities and limited debt relief resources. The community’s aging demographic and sluggish growth can lead to financial vulnerabilities, making it difficult for residents to manage daily expenses. Access to financial advice and assistance is scarce, adding to the stress for those struggling financially.

City: Powassan
Province/Territory: Ontario (ON), Canada
Est. Population: 3,346

Financial Challenges

Living in Powassan can be tough for people who don’t have a lot of money. The town is small, so there aren’t many jobs available, which makes it hard to earn enough to cover daily needs like food, bills, and transportation. Housing might seem cheaper than in big cities, but sometimes fixing homes or getting to work can cost extra money, stretching tight budgets even further.

For those who have money problems, it’s also harder to find places to get help or advice with managing money. Because Powassan has an older population, there might not be as many services for younger people or families. This means if you’re struggling to make ends meet, there aren’t many local resources to support you, making life more stressful and difficult.

Debt Relief Solutions Available

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Debt Data

This table includes estimates on the number of residents who are experiencing financial stress situations. You are not alone.

_{The estimates above are based on the following ratios living paycheck to paycheck rate (47%), poverty rate (11.1%), delinquency rate (1.09%), insolvency rate (0.25%), consumer proposal rate (0.19%), personal bankruptcy rate (.06%) from the following sources leger360.com, statcan.gc.ca, consumer.equifax.ca and is, d-isde.canada.ca.}

Areas / Neighbourhoods

• Downtown Powassan
  The heart of Powassan, Downtown features a charming mix of local shops, cafes, and community services. It’s a hub for social activities and gatherings, making it a lively area for residents and visitors alike.

• Powassan Park
  A scenic neighborhood that includes the local park, Powassan Park is popular for outdoor activities such as hiking and picnics. The beautiful green spaces and recreational facilities attract families and nature enthusiasts.

• East Powassan
  This residential area is known for its quiet streets and family-friendly atmosphere. East Powassan offers a mix of single-family homes and is close to schools and local amenities, making it ideal for families.

• West Powassan
  A growing neighborhood with a blend of newer homes and established residences, West Powassan provides easy access to the surrounding countryside and is popular among those seeking a peaceful retreat while still being near town.

• Powassan Industrial Park
  While primarily an industrial area, this section of Powassan is important for local businesses and job opportunities. It is characterized by various commercial enterprises and facilities, contributing to the economic landscape of the town.

• Maple Avenue District
  Known for its historical charm, the Maple Avenue District features older homes with unique architectural styles. The area is tranquil and attracts those who appreciate character and history in their living environment.

_{Illustration of Powassan, Ontario, Canada}

Cost of Living

This table provides a breakdown of various average cost-of-living expenses in Powassan, Canada to help understand the financial requirements for different living situations.

_{The cost of living data is based on provincial averages and may differ between cities, towns, and rural areas.}

Top Questions

1. What is the average cost of living in Powassan, Ontario?
2. How does the job market in Powassan compare to nearby cities?
3. What are the average housing prices in Powassan?
4. Are there any financial assistance programs available for residents of Powassan?
5. What is the economic outlook for Powassan in the next 5 years?
6. How do utility costs in Powassan affect monthly budgets for residents?
7. What are the common financial challenges faced by residents of Powassan?
   

If you have a question about debt see our debt related question or ask your own debt related question.

Overview

Located in Ontario, this small community is home to about 3,569 residents as of 2024, with a notable median age of 49.9 years, indicating an older population compared to the provincial average. The area features a rural setting with a low population density, presenting unique challenges for employment opportunities and access to services. Economic conditions in the province are expected to remain difficult, with projected sluggish growth and rising unemployment, which can further limit job prospects for local residents. Despite some recent population recovery, the aging demographic poses financial vulnerabilities that may affect the community’s overall economic stability and resilience.