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Jan 28, 2021 · Average vacancy rate for purpose-built rental apartments increased to 3.2% in 2020 from 1.9% in 2019. Highest vacancy rate was recorded in the downtown core, the area that commands some of the higher rents. Fixed-sample average rent for two-bedroom units increased by 2.5% down from 7.4% in 2019.
Stronger demand than supply supported growth in average rents for most bedroom count units. The fixed sample average rent for the benchmark two-bedroom apartments increased 4.9% this year, much higher than the Ontario rent increase guideline of 1.8% for 2019, and slightly higher than last year’s increase of 4.2%.
The apartment vacancy rate in the Calgary CMA was 3.9%, unchanged from October 2018. The average apartment rent was $1,181 in October 2019 compared to $1,149 last year. In rental structures common to both the October 2018 and 2019 surveys, apartment rents increased by 1.7% this October compared to the previous year.
Jan 31, 2024 · Highlights from the 2024 Rental Market Report. National Rental Landscape: Despite an increase in overall rental unit supply, demand outpaces supply for the second consecutive year. Canada is experiencing record-low vacancy rates (1.5%) and record-high average rent growth (8.0%) in 2023, creating competitive rental conditions across major markets.
New data: Average rent growth for 2-bedroom units that turned over to a new tenant was well above average rent growth for units without turnover (18.2% vs. 2.8%). This increased affordability challenges. Rental demand surged in 2022, leaving the vacancy rate at a near-historic low. Rental supply increased sharply between October 2021 . and ...
occupied units. This caused a larger percentage of tenants to stay put this year and accept the full 1.8% Ontario Rent Increase Guideline. The overall turnover rate was 14.0%, down from 15.9% a year earlier4. Many of the apartments that did turn over to a new tenant saw much stronger rent increases. This could have been due
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vacancy rate increased from 0.4% in 2019 to 13.0% in 2020 (table 1.1.1). The supply of units in this area did not increase during this period, suggesting that this change results purely from a reduction in demand. Cost gap between rental and entry-level homeownership remains significant In 2019, the gap between monthly carrying costs and rents
