Metro Vancouver's rental vacancy rate has been chopped in half

The region continues to have the highest average rent in Canada, where last year the cost to rent an average purpose-built, two-bedroom unit hit $1,824. The COVID-19 pandemic hit young renters hard in 2021, but the CMHC report notes employment in the 15- to 24-year-old demographic had stabilized in Vancouver by the summer of 2021. That’s in a city where vacancy rates for condominium rentals fell to zero last year.

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