Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

June 19, 2014 08:15 ET

Vacancy Rate for Seniors' Residences in Alberta Declined in 2014

CALGARY, ALBERTA--(Marketwired - June 19, 2014) - According to Canada Mortgage and Housing Corporation's (CMHC) 2014 Seniors' Housing Report released today, the average vacancy rate for a standard retirement space in Alberta was 8.5 per cent in 2014, down from 10.2 per cent in 2013. Within the Calgary Census Metropolitan Area (CMA), the vacancy rate was 4.8 per cent in 2014, compared to 7.5 per cent in 2013. In the Edmonton CMA, the vacancy rate decreased to 7.1 per cent in 2014 from 7.3 per cent in 2013. The vacancy rate in the remainder of the province declined to 16.1 per cent in 2014, down from 18.5 per cent a year earlier.

For all bedroom types, the average rental rate for a standard space in Alberta was $2,826 per month in 2014, compared to $2,798 in 2013. Rental rates for seniors' residences are typically higher than rents in the purpose-built rental market due to the additional services and amenities that are also included. The average rent in Calgary for all bedroom types was $3,460 in 2014 compared to $2,402 in Edmonton and $2,544 in the Rest of Alberta. Among these three areas, Calgary and the Rest of Alberta reported an increase in the total average rent while Edmonton reported a reduction.

CMHC's seniors' housing survey covered 10,463 retirement spaces in 2014, up three per cent from 10,160 in 2013. These spaces were spread across 96 residences, and included 10,629 residents. The majority of the identified retirement spaces in the survey were standard spaces, at 6,891. Non-standard spaces totalled 2,306, which included heavy care spaces, non-market or rental subsidy spaces, and some spaces being used to provide respite care.

Seniors' residences typically offer many other services not found in the purpose-built rental market. Some of the services and amenities may include meal plans, on-site medical services, housekeeping, laundry and recreational programs. CMHC's seniors' survey included residences that provided at least an on-site meal plan. Almost two-thirds of the residences surveyed had a mandatory meal plan that included all three meals. The most common amenity in Alberta was a 24-hour call bell which was found in 95 per cent of structures surveyed, followed by an exercise facility in 89 per cent of structures.

As Canada's national housing agency, CMHC draws on more than 65 years of experience to help Canadians access a variety of high quality, environmentally sustainable and affordable housing solutions. CMHC also provides reliable, impartial and up-to-date housing market reports, analysis and knowledge to support and assist consumers and the housing industry in making informed decisions.

For more information, visit www.cmhc.ca or call 1-800-668-2642. CMHC Market Analysis standard reports are also available free for download at www.cmhc.ca/housingmarketinformation.

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Additional data is available upon request

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Contact Information

  • Market Analysis Contact
    Christina Butchart
    Senior Market Analyst, CMHC Edmonton
    (780) 423-8729
    cbutchar@cmhc.ca

    Richard Cho
    Senior Market Analyst, CMHC Calgary
    (403) 515-2996
    rcho@cmhc.ca

    Media Contact
    Charles Daniel Mainville
    Senior Communications Consultant
    (403) 515-2915
    cdmainvi@cmhc.ca