Average market rents:
The Average Market Rent (AMR) is calculated annually by Canadian Mortgage and Housing Corporation (CMHC). AMR calculates the actual rents paid by tenants, factoring in rent supplements or housing allowance assistance.
In theSt. Catharines– Niagara Census Metropolitan Area (CMA), in 2010, the overall average rent was $769 a month: $528 for a bachelor apartment; $689 for one bedroom apartment; $817 for a 2 bedroom apartment; and $918 for a 3 bedroom apartment.
Rent for a 2-bedroom apartment in theSt. Catharines– Niagara CMA in 2010 was $817, compared to $774 in 2008, representing a 5.6% Niagara increase over 2 years. The average increase was 2.0% in Niagara in 2010, just below the average increase of 2.15% in Ontario. In April of 2011, the rent for a 2-bedroom apartment was $830, up slightly from 2010. Average rents in Niagara are still lower than in other CMAs in Ontario.
Source: Canada Mortgage and Housing Corporation 2010 Rental Market Survey.
The economic downturn resulted in more applications for affordable housing at the same time that fewer tenants were able to move out of affordable housing and into the private market.
