Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

June 15, 2016 08:15 ET

Vacancy Rate for Seniors' Residences in Alberta Increases in 2016

CALGARY, ALBERTA--(Marketwired - June 15, 2016) - According to Canada Mortgage and Housing Corporation's (CMHC) 2016 Seniors' Housing Report released today, the vacancy rate for standard retirement spaces in Alberta increased from 8.1 per cent in 2015 to 9.2 per cent in 2016. The vacancy rate in the Calgary Census Metropolitan Area (CMA) increased, moving from 6.4 per cent to 10.4 per cent in 2016. In the Edmonton CMA the vacancy rate was 4.2 per cent in 2016, down from 6.3 per cent in 2015. Outside of the province's two largest cities, the vacancy rate grew from 13.1 per cent in 2015 to 15.2 per cent in 2016.

The average rental rate for a standard space for all bedroom types in Alberta was $2,992 in 2016, $70 more per month than a year earlier. The additional amenities and services provided in seniors' residences typically push rents above those in the purpose-built rental market. Spaces with two-bedrooms or more reported an average rent of $3,709 in 2016, up $167 per month from 2015. The average rent for bachelor and one-bedroom suites also increased from the previous year, albeit to a lesser degree. From 2015 to 2016, the average rent for bachelor suites rose $12 a month to $2,417, while one-bedroom suites increased $82 a month to $3,042.

CMHC's seniors' housing survey included 12,211 retirement spaces, an increase of 9.6 per cent from 2015. The survey included 112 residences and counted 12,261 seniors living in these residences. Although the number of spaces increased at a faster pace than the population of seniors aged 75 and over, the capture rate(1) for the survey rose to 5.8 per cent, up from 5.5 per cent in 2015. A larger proportion of Alberta's seniors chose to live in a retirement home in 2016.

Seniors' residences provide some services and amenities that are not typically present in purpose-built rental buildings. Such services may include housekeeping, meal plans, medical services, and various recreational programs. To be included in the survey, a facility must offer an on-site meal plan. Over 64 per cent of structures surveyed in Alberta had three meals included in the rent. As was the case in the 2015 survey, the most common amenities in Alberta structures were a 24-hour call bell service and an exercise facility. Call bells were found in 88.9 per cent of structures and exercise facilities were in 83 per cent of structures.

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.

For more information, visit our website at www.cmhc.ca or follow us on Twitter, LinkedIn, Facebook, and YouTube.

Additional data is available upon request

(Ce document existe également en français)

(1) The capture rate is the proportion of the population aged 75 and over living in the survey universe.

Contact Information