The Canada Mortgage and Housing Corporation (CMHC) published their fall rental market report on Tuesday.
Compared to other big cities, Montreal is still a relatively affordable place to rent. The CMHC reports that units under $1,150 account for almost 60 percent of the city’s rental stock.
But those units have vacancy rates of less than one percent, as tenants hold onto their affordable apartments. On average, rent increased 20 percent on apartments whose tenants changed this year.
The rise in rents continues to outpace the growth in wages – making it harder for Montrealers to pay each month. Among the groups concerned by the findings is the Regroupement des comités logement et associations de locataires du Québec (RCLALQ), which represents housing committees and tenant rights groups in the province. Spokesperson Cédric Dussault talked to CKUT about the big trends they’re seeing.
