Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

June 15, 2016 08:15 ET

Seniors' Housing in Atlantic Canada

HALIFAX, NOVA SCOTIA--(Marketwired - June 15, 2016) - Canada Mortgage and Housing Corporation (CMHC) released its annual Seniors' Housing Report - Atlantic Region today. According to the 2016 CMHC Seniors' Housing Survey, the vacancy rate for standard spaces in Atlantic Canada was 9.7 per cent.

"Vacancy rates varied throughout the Atlantic Provinces, ranging from 6.2 per cent in Prince Edward Island to 13.0 per cent in Newfoundland and Labrador," said Sarena Teakles, CMHC's Market Analyst. One bedroom standard spaces the most common type of unit in most Atlantic Provinces reported the lowest vacancy rate at 5.9 per cent," she added.

The rent charged for seniors' standard spaces for all types of units across Atlantic Canada averaged $2,523 per month in 2016. The additional services and amenities provided to residents contribute to the higher rents collected by seniors' residences, as compared with accommodations offered by the traditional purpose built rental market. Average rents across Atlantic Canada ranged from $2,264 per month for a ward/semi-private unit to $2,860 for a unit with two or more bedrooms.

As Canada's authority on housing, CMHC contributes to the stability of the housing market and financial system, provides support for Canadians in housing need, and offers objective housing research and information to Canadian governments, consumers and the housing industry.

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Additional data is available upon request.

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