Nunatsiaq Online
NEWS: Nunavut January 03, 2012 - 4:42 pm

Iqaluit: Canada’s most expensive rental market

Housing agency report also shows Nunavut has country's highest core housing needs

NUNATSIAQ NEWS
Iqaluit renters paid an average of $2,265 a month to rent a two-bedroom apartment in Nunavut’s capital in 2010, making it the highest rental market in the country. (PHOTO BY SARAH ROGERS)
Iqaluit renters paid an average of $2,265 a month to rent a two-bedroom apartment in Nunavut’s capital in 2010, making it the highest rental market in the country. (PHOTO BY SARAH ROGERS)

If you pay rent in Iqaluit, this news will come as no surprise: Iqalummiut paid the highest rents in the country last year.

In 2010, Iqaluit renters paid an average of $2,265 a month in the private rental market for a two-bedroom apartment in Nunavut’s capital, according to the latest figures from the Canadian Mortgage and Housing Corp.

That’s ahead of Yellowknife renters, who paid $1,486 a month and renters in Toronto – the country’s largest city – who paid $1,123. (Data was not available for other Nunavut communities.)

The national housing agency’s newly-released housing report didn’t offer statistics on housing prices in Nunavut, but pegged home ownership across the territory at 22 per cent, compared with 68 per cent Canada-wide.

But the CMHC’s report revealed more bad news for a territory already plagued with housing troubles.

Nunavut topped the country’s list of provinces and territories with core housing needs, which describes households that are in need of major repairs or those that lack sufficient bedrooms for their occupants.

The incidence of core housing needs is at 37 per cent in Nunavut – more than three times higher than the same need in other Canadian provinces.

But Nunavut is making an earnest effort to catch up with a yearly household growth of 9.5 per cent – roughly two percentage points ahead of the Canadian average.
Between 2001 and 2006, the number of households in Nunavut grew by 136 – from 7,145 to 7,855.

The CMHC report projects that the number of households in the territory will rise to 10,000 by 2016 and as high as 13,000 by 2036.

See the full report here.

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