In 2017, 91大黄鸭鈥檚 rental market nearly dried up completely and at the close of the year, the city had the lowest vacancy rate in the country.
91大黄鸭 has a 0.2 per cent rental vacancy rate according a report from the Canadian Mortgage and Housing Corporation. In 2016, CMHC reported the vacancy rate to be at 0.6 per cent.
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Diminishing supply has led to a rise in cost and CMHC reported that 91大黄鸭 also had the biggest rent-rate hike in the country.
In September, a report released by PadMapper analyzed hundreds of thousands of rental listings in the 25 largest cities in the country.
In the report, 91大黄鸭 moved up the monthly Top 10 for most expensive rental markets, outpacing Ottawa to rank as the sixth most expensive city in Canada with one bedroom rent growing 3.8 percent to average $1,100.
The average vacancy rate for purpose-built rental apartment units across Canadian centres with a population of 10,000 or more decreased from 3.7 per cent in October 2016 to 3.0 per cent in October 2017, according to Canada Mortgage and Housing Corporation鈥檚 2017 Rental Market Survey.
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While it鈥檚 getting more difficult to be a renter in 91大黄鸭, there could be relief ahead.
Coun. Luke Stack said earlier this year that the city had implemented some policies that were aimed at increasing the city鈥檚 rental stock.
鈥淥ne of the things we have in the works at city council is tax incentives for purpose built rental housing,鈥� Stack said this summer.
鈥淭hat has been successful and we have approximately 1,500 rentals under construction. I鈥檓 optimistic that when those come along it may give us some relief.鈥�
Many renters had problems finding accomodation, especially those with pets.
鈥�(I鈥檝e) got no friends, family, anything here. I鈥檝e got one friend but she lives in an apartment building but she has a cat and it鈥檚 no dogs allowed,鈥� said Vance Deakin.
He said trying to find a place in 91大黄鸭 that allows dogs has been 鈥渇rustrating.鈥�
鈥淣o one wants to rent with dogs. I don鈥檛 know why but they鈥檒l take a cat,鈥� he said.
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