Rent prices soared in 2023 as Canada saw lowest vacancy rate on record
Rent prices in Canada soared last year as supply struggled to keep up with demand, leading to the lowest national vacancy rate on record since the Canada Mortgage and Housing Corp. began tracking that data in 1988.
![Rent prices soared in 2023 as Canada saw lowest vacancy rate on record](https://i.cbc.ca/1.7100599.1706726864!/cumulusImage/httpImage/image.jpg_gen/derivatives/16x9_620/rental-housing-strike-aerials-lawrence-ave.jpg)
![Apartment buildings at Lawrence Avenue West in Toronto during an October rental strike aimed at pushing back against above-guideline rent increases and soaring rents in the city. The Canada Mortgage and Housing Corp. recorded Canada's lowest vacancy rate on record in 2023. An apartment building with a sign saying "Stop raising rents" hanging from a balcony.](https://i.cbc.ca/1.7100599.1706726864!/cumulusImage/httpImage/image.jpg_gen/derivatives/16x9_620/rental-housing-strike-aerials-lawrence-ave.jpg)
Rent prices in Canada soared last year as supply struggled to keep up with demand, leading to the lowest national vacancy rate on record since the Canada Mortgage and Housing Corp. began tracking that data in 1988.