Alberta cities Calgary & Edmonton are among the highest rental prices in Canada.
ALBERTA — Calgary tops the charts when it comes to average rental rates across our nation for larger cities. Edmonton too, is in the top five, being surpassed by the expected: Toronto, ON and Vancouver, BC.
Even with rental vacancy rates rising, it is not enough to get landlords to drop their prices. This is a big concern.
According to the Canada Mortgage and Housing Corporation, average monthly rent costs in Alberta rose by $135 per month between 2012 and 2014 alone.
Canada’s economy is staying afloat due almost solely because of our country’s high real estate prices.
Quebec cities Montreal and Quebec City both sit in the lowest bracket when it comes to major city rental prices in our country. Both cities sit roughly $500 less monthly than we do here in Edmonton. Impressively low.
According to statistics from 2014, the national average sits around the $1,000 per month mark for a 2 bedroom unit. For comparison purposes, Edmonton sits at roughly $1,250 per month, Calgary at roughly $1,320 per month. Fort McMurray, the most expensive city in Alberta, sits at roughly $2,000 per month for the same unit size.
If you feel that Rachel Notley and the rest of NDP government should implement a rental cap in the province of Alberta, make your voice heard by taking our poll below:
Average apartment rental rates in Calgary are rising at almost 3 times the rate of inflation, but the NDP refuses to implement a rental cap in the province, instead focusing on building more affordable housing.
Let’s make our opinions known. Let’s put an end to ridiculous rent hikes. Landlords have been taking advantage of the fact that there is no cap to how much rent can jump for too long, and we should probably do something about it.
Most other major Canadian cities have some sort of rental control. Alberta and Saskatchewan are the only major exceptions.
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Just an FYI in case you were unaware: Landlords require giving a minimum of three months notice when hiking their tenant’s rental prices.
As to be expected, most landlords across the province oppose the idea of implementing a cap on rental prices.
The NDP government may debate rent regulations, rent subsidies and security deposits in the legislature sometime in the very near future.
This article was written by Jody Mitoma.