Average Rent

Definition:

Refers to the average rent for all unit types (Bachelor, 1 Bedroom, 2 Bedroom and 3+ Bedroom) in row structures and apartments with 3+ units in the primary rental market. 

Methods and Limitations:

Data is collect as part of the Canada Mortgage and Housing Corporation’s (CMHC) Rental Market Survey. CMHC conducts the annual Rental Market Survey in October to estimate the relative strengths in the rental market. The survey is conducted on a sample basis in all urban areas with populations of 10,000 or more. It targets only privately initiated structures with at least 3 rental units, which have been on the market for at least 3 months.

The survey collects market rent levels, availability, turnover and vacancy unit data for all sampled structures. Data is collected using a combination of telephone interviews and site visits. Information is obtained from the owner, manager or building superintendent.

The survey is conducted during the first 2 weeks of October and the results reflect market conditions at that time.

Average rent data is collected for row (townhouse) and Apartment structures in the primary rental market universe, and provided for all bedroom types (Bachelor, 1 Bedroom, 2 Bedroom and 3+ Bedroom)

Average rent: This represents rent levels in both new and existing structures. This is a weighted average of all units combined, whether vacant or occupied.

Rent: The rent refers to the actual amount tenants pay for their unit. No adjustments are made for the inclusion or exclusion of amenities and services such as heat, hydro, parking or hot water (i.e., utilities such as heating, electricity and hot water may or may not be included in the rent. For available and vacant units, the rent is the amount the owner is asking for the unit. The average rents reported in this publication provide a sound indication of the amounts paid by unit size and geographical sector.

Rental Apartment Structure: Any building containing 3 or more rental units, of which at least 1 unit is not ground oriented. Owner-occupied units are not included in the rental building unit count.

Rental row (townhouse) structure: Any building containing 3 or more rental units, all of which are ground oriented, side-by-side, with common walls dividing each rental unit. Owner-occupied units are not included in the rental building unit count. These row units in some centres are commonly referred to as townhouses.

Provincial data is only reflective of urban areas within the province with populations of 10,000 or more.

CMHC does not publish a statistic if its reliability is too low or if publication of a statistic would violate confidentiality rules. Data points accompanied by the letter code ‘d’ are considered ‘poor’ and should be used with caution. All other data points are considered reliable

Geographical areas modified every 5 years to reflect most recent census definitions, therefore, data are not strictly comparable historically.

These data are obtained from Canada Mortgage and Housing Corporation (CMHC) and are provided subject to CMHC Licence Agreement for the Use of Data.

Source(s):

Canada Housing and Mortgage Corporation. 2024. Housing Market Information Portal