Recent data compiled by the Canadian Rental Housing Index isn't painting a bright picture for rental properties.

According to their 2018 Rental Housing report, Airdrie has the fifth highest average rent, including utilities, in the entire country.

Airdrie’s average rent prices are at $1,597 while Rocky View was fourth on the list at $1,626. Wood Buffalo and Fort McMurray topped the national list with an average rent and utility cost of $1,805 per month.

Henry Voogd, Executive Director of the Alberta Network of Public Housing Agency explained where they received their data from.

“The rental housing index data came from the 2016 census data from Statistics Canada. It provides information for over 400 cities and regions across Canada. All the comparisons where we talk about an increase or decrease are from the 2011 to 2016 in terms of census data.”

The data also showed that Alberta has the highest average rent of any province or territory at $1,279 while Nunavut was at the bottom of the list at an average of $737.

Voogd said there are many reasons why Alberta and Airdrie’s rent average are so high.

“We are seeing additional pressure on rental supply and there’s a generational shift to renting instead of owning. That combination, including of course wherever there’s areas of rapid growth and Airdrie has been one of those areas which in the last 20 years has just boomed. All those factors play into it.”

Voogd also pointed out that some communities in Alberta, such as High River may not have as high rental costs, but many residents find they’re using half of their income towards their housing costs.

Voogd said the data shows an interesting shift when it comes to looking at the rental housing market in the country.

“For most Canadians and certainly for myself, very interesting because you usually think of problems with high rent as being Calgary, Edmonton or places like Vancouver or Toronto, but that is changing not just in Alberta but across the country.”

For more on the Housing Index report, you can visit their website.

 

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