‘Insane’ rise in lease rates lead some to return to parents’ home
Alex Rettie leases a two-bedroom unit on the main floor of a bungalow in Kingsland, an established neighbourhood in Calgary’s south. Although his rent remains below market, he’s already spending more than half of his monthly income in housing costs.rate for the two-bedroom apartment they’d been leasing since 2020, would be going up by 83 per cent. “In Alberta there are no restrictions on how much a landlord can increase rents,” Mr. Porter says.
In the past five years, the average rental rate in Calgary has risen by 33 per cent, according to CMHC, reaching $1,583 last October. This increase has been largely caused by an unprecedented influx of new residents to Alberta’s largest city, who’ve driven up.
Since the federal government launched Canada’s National Housing Strategy in 2017, the programs created have focused on addressing the needs of young prospective buyers such as Mr. Porter, but less has been done to support renters who, like Mr. Rettie, have few options available. Without strong policies to level off the power disparity between landlords and tenants, rent will continue to eat first in Alberta. As the province’s population continues to surge, landlords are finding themselves in a position that allows them to increase their profit for as much as the market will bear. Despite the completion of 3,681 rental units in 2023, CMHCthat the average rental rate for a two-bedroom unit in Calgary will go up by nearly 10 per cent this year.
“The criteria for receiving rental assistance … are based on level of need and are not first-come first-served,” says Darren Nimegeers, communications lead at CHC. “Criteria include factors such as risk of homelessness, number of children, family violence, etc.”try to increase their income by taking more work, or to reduce their costs by cutting discretionary spending or taking on a roommate.
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