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Posted in Industry Trends


Our annual Rental Market Report provides in-depth analysis and market trends for major centres across Canada. The report uses data from the fall Rental Market Survey and Condominium Apartment Survey results.

You’ll get:

  • Analysis of primary and secondary rental markets
  • Information covering new and existing structures
  • A review of rent and vacancy trends relative to supply and demand and their economic and demographic drivers
  • A new analysis for 2022 of average rent growth for 2-bedroom units that turned over to a new tenant
  • An indicator of affordability conditions on the primary rental market with a focus on lower-income households

Highlights from the latest Rental Market Report

  • The vacancy rate for purpose-built rental apartments decreased in 2022, while the demand for rental housing increased.
  • Demand for rental housing outpaced the increase in supply in 2022, leading to a lower national vacancy rate compared to 2021.
  • Higher net migration, increased homeownership costs and students returning to on-campus learning drove increased demand for rental housing.
  • Rental affordability continues to pose a significant challenge across the country. There is a lack of affordable rental housing, especially for the lowest 20% of income earners.
  • New analysis indicates that there was a significant gap between the average rent for 2-bedroom units that turned over to a new tenant and ones that did not.


Story by: CMHC