According to the latest from the Canada Mortgage and Housing Corporation, Canada’s rental vacancy rate has remained unchanged in April 2014 compared to April 2013, staying at 2.7 per cent.
“The stability of the national vacancy rate is due to supply and demand factors,” said the manager of Economic and Housing Analysis for the Canada Mortgage and Housing Corporation, Bruno Duhamel. “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.”
In April, the average two-bedroom rent was $930 nationally, with Toronto average rents hitting $1,241. Vancouver had the highest average rent in Canada for a two-bedroom, at $1,271.