5 years of rental data in 15 Canadian municipalities
Which neighbourhoods have seen large spikes in rent? The Star mapped 5 years of rental data in 15 Canadian municipalities | The Star
The hunt for rental housing, particularly in Toronto and Vancouver, has become increasingly competitive and confusing as the number of people looking to live in cities continues to outpace what is actually being built.
“Renters going to shop for a place to rent have almost no information,” said David Hulchanski, a housing and community development expert at the University of Toronto, who maps and studies the factors that drive neighbourhood change. “Most consumers shop blindly, they don’t know what is going on in different geographic areas.”
To try to cut through that confusion and provide renters with a bit more insight on where neighbourhood prices are heading the Toronto Star built an interactive map showing how a big slice of the complex market — purpose-built rentals — have gone up in price. The yearly average rents were provided by the Canada Mortgage and Housing Corporation, which tracks and reports information on rental prices and vacancy rates. The Star used those numbers to calculate how much average market rent for purpose-built rentals in the 15 largest metropolitan areas across the country changed between 2012 and 2017.
Consumers, Hulchanski said, “need to be forewarned that over a five-year period that has been the change in rents,” in the neighbourhood they might want to live in. “A good consumer needs information and this is helpful information.”
Which neighbourhoods have seen large spikes in rent? The Star mapped 5 years of rental data in 15 Canadian municipalities | The Star
The hunt for rental housing, particularly in Toronto and Vancouver, has become increasingly competitive and confusing as the number of people looking to live in cities continues to outpace what is actually being built.
“Renters going to shop for a place to rent have almost no information,” said David Hulchanski, a housing and community development expert at the University of Toronto, who maps and studies the factors that drive neighbourhood change. “Most consumers shop blindly, they don’t know what is going on in different geographic areas.”
To try to cut through that confusion and provide renters with a bit more insight on where neighbourhood prices are heading the Toronto Star built an interactive map showing how a big slice of the complex market — purpose-built rentals — have gone up in price. The yearly average rents were provided by the Canada Mortgage and Housing Corporation, which tracks and reports information on rental prices and vacancy rates. The Star used those numbers to calculate how much average market rent for purpose-built rentals in the 15 largest metropolitan areas across the country changed between 2012 and 2017.
Consumers, Hulchanski said, “need to be forewarned that over a five-year period that has been the change in rents,” in the neighbourhood they might want to live in. “A good consumer needs information and this is helpful information.”
