Canada Mortgage and Housing released their rental market report today and it contains some pretty interesting stuff:
- Alberta’s vacancy rate is the lowest of all Canadian Provinces
- Alberta’s average monthly rent was is $847/month, second only to Ontario.
- Calgary’s vacancy rate remains unchanged at .5% since April of ‘06
- Edmonton’s vacancy rate has dropped from 1.3% to 1.1% since April of ‘06
- Three cities in Alberta reported 0% vacancy – Canmore, Okotoks and Wetaskiwin
- Wetaskiwin also has the lowest average rent
- Highest rent for a 2-bedroom – Wood Buffalo at $1681 and Grande Prairie at $1094
- Calgary rent for a 2-bedroom – $1037, Edmonton – $877.
- Alberta’s economy expanded at 6.8% in ‘06 – the fastest in 9 years
- Employment grew by 86,000 jobs in ‘06 – a record for employment growth in Alberta
- Alberta drew a record 86,000 net-migrants to the province in ‘06, 73,000 are expected this year
You can read the complete report here.
