Calgary's rental vacancy rate has dropped to its lowest level since 2014, CMHC says. yyc
Calgary was one of many major cities that experienced a huge drop – moving from 5.1 per cent to 2.7 per cent between 2021 and 2022.Markets also tightened in Canada's largest centres, Montreal, Vancouver and Toronto.
"The overall average rent growth for two-bedroom purpose-built apartments common to 2021 and 2022 surveys was 5.6 per cent. This is a new annual high, well-above average rent growth recorded between 1990 and 2022," the CMHC said in a release.the CMHC's reportOfficials say affordability is still a big concern because "not enough homes are considered affordable" in Calgary.
"When comparing household income with monthly rent, only about 5 per cent of the purpose-built rental universe is considered affordable for households earning less than $36,000 per year," the CMHC said.Only five of the 37 census metropolitan areas included in the report reported significantly higher vacancy rates in 2022 than in 2021, CMHC says.
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