Rental vacancy rate dips to 2.4% across Canada, CMHC says

Canada's overall vacancy rate dropped for a second year in a row, as demand for rental housing grew at a faster pace than supply, according to the Canada Mortgage Housing Corp.

In its annual rental market survey, the housing agency says that in 2018, the vacancy rate was 2.4 per cent, down from three per cent in 2017.

CMHC says demand for rental housing grew at a faster pace than supply.

The housing agency calculates that 37,000 new purpose-built apartments were added across Canada this year. But demand for apartments increased by 50,000, so there aren't enough new ones to satisfy everyone who wants one.

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