2018 IS AN EXCEPTIONAL YEAR FOR RENTAL DEMAND AND PRICE

Because recent statistics on the local rental market are piecemeal — with different stakeholders and authorities assessing swaths of the market at varying standards of rigour — this newspaper gathered and compared numbers from multiple sources to assess Ottawa’s rental landscape.

14%

Local realtor Steve Peippo, using MLS data: After pulling all MLS listings for two-bedroom, one-parking spot residential rentals in Ottawa for the month of May in 2017 and 2018, he found the average rental “sold” price jumped 14 per cent, from $1,739 to $2,018.

1.7%

Vacancy rate for purpose-built rental apartments in Ottawa according to CMHC’s 2017 Rental Market Report. Down from three per cent in 2016 and the tightest in six years.

$1,232

The average two-bedroom purpose-built apartment rent in Ottawa, up 2.7% from 2016. CMHC found average rents higher in Vancouver, $1,552 and Toronto, $1,404.

$1,209

Average price of a two-bedroom rental townhouse in Ottawa, 2017, according to CMHC.

$1,566

Average price of a two-bedroom rental condo in Ottawa, 2017, according to CMHC.

$1,500

Average monthly price of a two-bedroom rental in Ottawa, June 2018, according to rental search engine PadMapper. Up three per cent from May and 15 per cent from June 2017.

7%

Average rental price increase in Ottawa-Gatineau from June 2017 to June 2018 according to Kijiji Canada. A jump compared to prior year-over-year increase of three per cent.

17%

Increase in Ottawa-Gatineau rental “wanted” ads on Kijiji – a significant turnaround from a previous year-over-year decline.

62,011

Purpose-built rental apartments in Ottawa according to CMHC.

+30%

Net migration increase in Ottawa-Gatineau in 2016-17.

3,616

Number of on-campus student housing units at Carleton University. International student population grew by 46% in 2017.

300

Waitlist for student housing at Carleton University in August.

500

Waitlist for student housing at University of Ottawa in mid-July.

19

Number of large-scale buildings in various stages of construction and occupancy according to Kevin McMahon, president of local research and consulting firm Urban Logic.

3,200

Number of units added to the market when they are completed.

10,000

Number of units in the pipeline, according to McMahon.