Rentals
Rental market reports
Analysis
Canada rental market analysis
Vacancy
Across the 29 metros in CMHC's latest Rental Market Survey, the median purpose-built vacancy rate is 3.3%. 11 of 29 are below 3%, the level usually treated as a tight market.
The tightest markets are Saint John (1.5%), St. John's (1.6%), Kingston (2.3%); the most available are Kelowna (6.3%), Calgary (5.0%), Kitchener–Cambridge–Waterloo (4.2%).
Vacancy rose in 23 of 29 metros compared with the previous survey.
Rents
The median average two-bedroom rent across these metros is $1,598 a month. The most expensive are Vancouver ($2,364), Victoria ($2,121), Kelowna ($2,098); the least expensive are Trois-Rivières ($1,017), Sherbrooke ($1,062), Medicine Hat ($1,217).
Median rent growth was 5.5% year over year, and rents rose in 35 of 35 metros. These averages include sitting tenants, many of them in rent-controlled units, so they rise more slowly than rents on new leases.
Advertised rents
Statistics Canada's asking-rent estimates, which track listings for new leases, fell year over year in 18 of 31 metros. Falling advertised rents in most cities show that the market for new leases has cooled, even though average rents paid are still rising.
Written from the latest official figures and refreshed whenever new data are released. It describes current conditions; it is not a forecast.
Rents and vacancy by metro
CMHC's average rent and vacancy for purpose-built rentals (October survey), and Statistics Canada's advertised two-bedroom rent (quarterly).
| Metro | Vacancy | Avg. 2-bedroom rent | Advertised 2-bedroom rent |
|---|---|---|---|
| Abbotsford–MissionB.C. | 2.8% +1.7 pts | $1,623 +7.7% | $1,890 −6.4% |
| BarrieOnt. | 4.2% +1.5 pts | $1,749 +2.7% | $2,100 −1.4% |
| BrantfordOnt. | 3.5% +0.8 pts | $1,604 +11.2% | $1,890 0.0% |
| CalgaryAlta. | 5.0% +0.2 pts | $1,908 +1.7% | $1,890 −6.4% |
| EdmontonAlta. | 3.9% +0.8 pts | $1,598 +4.5% | $1,570 −2.5% |
| FrederictonN.B. | n/a | $1,431 +5.7% | $1,670 +3.1% |
| HalifaxN.S. | 2.5% +0.5 pts | $1,828 +7.0% | $2,400 +5.3% |
| HamiltonOnt. | 3.6% +1.2 pts | $1,659 +1.4% | $2,150 0.0% |
| KamloopsB.C. | n/a | $1,673 +7.9% | $1,960 +1.0% |
| KelownaB.C. | 6.3% +2.5 pts | $2,098 +9.5% | $2,330 |
| KingstonOnt. | 2.3% −0.7 pts | $1,763 +5.3% | $1,940 −4.0% |
| Kitchener–Cambridge–WaterlooOnt. | 4.2% +0.5 pts | $1,816 +3.9% | $2,120 −1.9% |
| LethbridgeAlta. | n/a | $1,593 +7.9% | $1,480 −2.6% |
| LondonOnt. | 3.9% +1.2 pts | $1,645 +6.7% | $1,920 −4.0% |
| Medicine HatAlta. | n/a | $1,217 +5.1% | n/a |
| MonctonN.B. | 3.7% +2.1 pts | $1,452 +6.4% | $1,460 −2.0% |
| MontréalQue. | 3.3% +0.8 pts | $1,346 +14.5% | $1,820 −5.2% |
| NanaimoB.C. | n/a | $1,895 +6.8% | $2,080 +2.5% |
| OshawaOnt. | 3.7% 0.0 pts | $1,762 +4.3% | $2,000 −2.4% |
| Ottawa–GatineauOnt. | 3.4% +0.9 pts | $1,757 +4.3% | $2,360 −2.9% |
| PeterboroughOnt. | 2.7% −0.7 pts | $1,513 +1.0% | $1,920 −1.5% |
| Québec CityQue. | 2.6% +1.6 pts | $1,276 +10.1% | $1,460 −2.0% |
| Red DeerAlta. | n/a | $1,418 +5.7% | $1,410 −0.7% |
| ReginaSask. | 2.7% +0.2 pts | $1,478 +4.2% | $1,480 +1.4% |
| Saint JohnN.B. | 1.5% −2.4 pts | $1,290 +5.0% | $1,530 +1.3% |
| SaskatoonSask. | 3.2% +1.3 pts | $1,559 +5.4% | $1,620 +5.2% |
| SherbrookeQue. | 2.5% +0.9 pts | $1,062 +6.1% | $1,300 +5.7% |
| St. Catharines–NiagaraOnt. | 3.5% −0.1 pts | $1,527 +3.5% | $1,900 +1.1% |
| St. John'sN.L. | 1.6% −0.3 pts | $1,348 +8.5% | $1,530 |
| TorontoOnt. | 3.0% +0.5 pts | $2,045 +3.7% | $2,650 −0.7% |
| Trois-RivièresQue. | 2.7% +1.7 pts | $1,017 +14.5% | n/a |
| VancouverB.C. | 3.7% +2.1 pts | $2,364 +2.2% | $3,030 −4.1% |
| VictoriaB.C. | 3.1% +0.4 pts | $2,121 +6.3% | $2,640 −2.6% |
| WindsorOnt. | 3.6% +0.5 pts | $1,451 +5.5% | $1,850 +2.8% |
| WinnipegMan. | 2.8% +1.1 pts | $1,570 +4.2% | $1,660 +1.8% |
- Saint John: 1.50%
- St. John's: 1.60%
- Kingston: 2.30%
- Halifax: 2.50%
- Sherbrooke: 2.50%
- Québec City: 2.60%
- Regina: 2.70%
- Trois-Rivières: 2.70%
- Peterborough: 2.70%
- Winnipeg: 2.80%