Vancouver vacancy rate tightening up, according to latest CMHC report

More proof that Vancouver needs a rental housing program like Rental 100 — if more proof is needed — can be found in the latest CMHC rental housing report, which shows Vancouver’s vacancy rate declining to 1.8 percent from 2.9 percent last year. (A five percent rate is considered ideal.)

Toronto’s rate is about the same, but that’s a marginal improvement from last year. Rents in both cities are about the same. Montreal is a much better picture, however: a vacancy rate of 2.7 percent and rents about 40 percent below Vancouver and Toronto.