As Alberta's population booms, the province's rental apartment vacancy rates have become the tightest in Canada.
In October of this year, major centres with the lowest vacancy rates for apartment rentals were Calgary at 1 per cent, Edmonton at 1.4 per cent and Toronto at 1.6 per cent, according to the latest numbers from Canada Mortgage and Housing Corporation (CMHC).
"The strong in flow of interprovincial and international migrants into the province is the primary driver of the low vacancy rate in Alberta’s two major cities," Todd Hirsch, Chief Economist at ATB Financial, wrote on the company's blog.
The low vacancy rates mean higher rents, he says: "Unlike certain other provinces, there are no restrictions on the monthly rents that landlords can charge in Alberta."
Vancouver had the priciest market in the country, with two-bedroom apartments going for $1,281; Calgary comes in second with $1,224, and Toronto is third with $1,213.
Here's a look at some of the most expensive apartments for rent in Calgary:
In October of this year, major centres with the lowest vacancy rates for apartment rentals were Calgary at 1 per cent, Edmonton at 1.4 per cent and Toronto at 1.6 per cent, according to the latest numbers from Canada Mortgage and Housing Corporation (CMHC).
"The strong in flow of interprovincial and international migrants into the province is the primary driver of the low vacancy rate in Alberta’s two major cities," Todd Hirsch, Chief Economist at ATB Financial, wrote on the company's blog.
The low vacancy rates mean higher rents, he says: "Unlike certain other provinces, there are no restrictions on the monthly rents that landlords can charge in Alberta."
Vancouver had the priciest market in the country, with two-bedroom apartments going for $1,281; Calgary comes in second with $1,224, and Toronto is third with $1,213.
Here's a look at some of the most expensive apartments for rent in Calgary:
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