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
An apartment building with a sign saying "Stop raising rents" hanging from a balcony.

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.