Canadian Rental Vacancy Rate Remains Unchanged

The Canada Mortgage and Housing Corporation says that the average vacancy rates in Canada’s 35 major centers is 2.7 per cent during April 2014, which is the same as it was in April 2013.

The lowest vacancy rates in Canada are seen in Edmonton and Calgary, each with 1.4 per cent. A close second is Kelowna, at 1.5 per cent, while the highest vacancy rates are found in Moncton, at 10.7 per cent, Saint John, at 10 per cent, and Charlottetown at 8.7 per cent.

“The stability of the national vacancy rate is due to supply and demand factors,” said the Manager of Economic and Housing Analysis. “Demand for rental housing continues to be supported by population gains from net migration and stable employment levels for young workers aged 20 to 24.”

Cost-wise, the average rent for a two-bedroom apartment in Canada is $930, but the highest average monthly rents are seen in Vancouver ($1,274), Calgary ($1,267) and in Toronto ($1,241).

 

 

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