The Ups and Downs of Apartment Rental in Canada
It’s funny to think that the rental market can go up and down so easily, when you’d expect this to be a fairly stable market; or at least more stable than the real estate market. But the fact is, the price of an average 2 bedroom apartment for rent can change quite easily, and like the real estate market it’s all a question of supply and demand.
In Canada as a whole there are only 2.5% of apartments for rent that are lying vacant; that is to say, they have not been rented since a tenant was last in them. This really is a very low percentage, and in individual cities it’s sometimes even less than this. Where demand is near enough level with supply, apartment rental rates will go up because apartments are at a premium and hence we pay more for them.
So which cities have the lowest number of vacant apartments, and are these the cities that charge the highest rental rates? Find out more in our Rental Vacancies and Price Comparisons article.