It's Not Just Edmonton and Calgary. Smaller Places Are Facing an Intense Rental Squeeze

Across Canada, finding an affordable place to live has only gotten more difficult

It's not just Canada's biggest cities that are facing a rental crisis. Smaller cities and towns are also struggling to keep up with the demand for affordable housing, and the problem is only getting worse.

In a recent report, the Canadian Mortgage and Housing Corporation (CMHC) found that the average rent for a two-bedroom apartment in Canada increased by 11.8% in 2022. This is the largest annual increase since the CMHC started tracking rental data in 1990.

The problem is particularly acute in smaller cities and towns

While rent increases have been seen across the country, the problem is particularly acute in smaller cities and towns. In some cases, rent increases have outpaced those in larger cities.

For example, in the city of Belleville, Ontario, the average rent for a two-bedroom apartment increased by 20.6% in 2022. This is more than double the national average.

The rental squeeze is having a significant impact on people's lives. Many people are being forced to choose between paying rent and other essential expenses, such as food and transportation.

There are a number of factors contributing to the rental squeeze

There are a number of factors contributing to the rental squeeze, including:

Rising interest rates
Increased demand for housing
A shortage of rental supply

Rising interest rates are making it more expensive for landlords to finance their properties. This is leading to higher rents for tenants.

Increased demand for housing is also putting pressure on rents. This is due to a number of factors, including population growth and increased immigration.

A shortage of rental supply is also contributing to the problem. This is due to a number of factors, including zoning restrictions and the high cost of building new housing.

There are a number of things that can be done to address the rental squeeze

There are a number of things that can be done to address the rental squeeze, including:

Increasing the supply of affordable housing
Providing rent subsidies
Regulating rent increases

Increasing the supply of affordable housing is one of the most important things that can be done to address the rental squeeze. This can be done by building new affordable housing units, as well as by converting existing properties into affordable housing.

Providing rent subsidies can also help to make housing more affordable for low-income households. Rent subsidies can be provided by the government or by non-profit organizations.

Regulating rent increases can also help to protect tenants from unfair rent increases. Rent regulation can be implemented by the government or by local governments.

The rental squeeze is a serious problem that is affecting people across Canada. There are a number of things that can be done to address the problem, but it will require a concerted effort from all levels of government, as well as from the private sector.

Additional Information

For more information on the rental squeeze, please visit the following resources: