As rent prices spiked over the past two months, affordable pockets of rental housing became harder and harder to find.
In July, the average monthly cost for rental properties across Canada was $1,934 — up 10.4 per cent over last year, according to the data of the property listing company Rentals.ca. A similar hike in June saw the average rent spike 9.5 per cent.
Analysts say the steep prices are being driven by more demand than inventory.
And that demand is being driven in part by some people fleeing larger cities, while others flock to them.
This creates a challenge for people like Joan Alexander.
The senior has rented homes across Canada, in St. Catharines, Ont., and Guelph, Ont., then in Castlegar, B.C., and for the past two years on Prince Edward Island.
Joan Alexander, left, sits with her dog Beau and her partner Elizabeth Huether. They plan to move from P.E.I. to Lloydminster this October. (Submitted by Joan Alexander )
Alexander and her partner chose Summerside, a city about 50 kilometres northwest of Charlottetown, for its small-town feel.
But rising rental costs and other considerations — like proximity to health care — are driving her to relocate.
“We really hoped that P.E.I. would be our last stop on our life journey,” she said.
Finding affordable rental housing in Canada after a pandemic is proving a challenge for many, with spiking interest rates, inflation and limited rental stock.
Ben Myers, president of Bullpen Research and Consulting, a real estate advisory firm that tracks rental pricing in Canada, says if you are looking for a deal there still are some places he’d describe as comparatively “cheap.”
He suggests looking at Red Deer or Lethbridge in Alberta, or Saskatoon.
“You can get a two-bedroom for under $1,150 a month. It’s all about where you can work,” said Myers.
Alexander says she was able to find a few havens on the Prairies.
“It felt almost too good to be true. There seemed to be a few pockets where we could find what we were looking for. Pet friendly, affordable, safe housing,” said Alexander, who needs monitoring after donating a kidney and a place that welcomes her small, beloved dog — Beau.
Lloydminster — a city that spans Alberta and Saskatchewan — attracted Alexander and her spouse with affordable prices and a pet-friendly property owner.
They move in October to their new $1,200-per-month home.
WATCH | Priced out by rising rents:
Soaring prices leaving some renters priced out
10 hours ago
Duration 2:03
While the housing market may be cooling down, the rental market is on fire, with the price of an average unit up 10 per cent compared to last year. That has left many renters scrambling to find suitable housing.
Rentals.ca listings include detached and semi-detached homes, townhouses, condominium apartments, rental apartments and basement apartments. The company can’t provide an average rent for all cities. Some smaller communities don’t have enough rentals to get an accurate average.
So it’s worth hunting. There are some hidden gems.
Myers says that in a normal year, rent can fluctuate on average three to five per cent. But average rents grew 10 to 12 per cent in 2019, due to a shortage of supply, he says. Then the pandemic hit and rent declined, on average, 15 to 20 per cent.
“We are now adjusting back to pre-pandemic levels,” said Myers.
Renters on the move
Then there are the super-expensive anomalies — like Vancouver, which rebounded even faster from the pandemic, with a per month average rent of $2,300 in June 2022.
Myers says there have also been significant shifts to cities that used to enjoy low rent, as some people migrate to smaller places where they can get more real estate for their dollar.
Retiring Baby Boomers from the Toronto area are creating demand and raising prices in places like the Niagara Region and Halifax, for example.
“Halifax has gone kind of nuclear. Definitely a lot of Ontarians moved to Halifax during the pandemic,” Myers said.
Also, he says a lot of students stayed in their university towns like Victoria, London, Ont., and Kingston, Ont., when offices closed during the past two years.
“All the benefits of living in a big city were almost bad because you didn’t want to be around a lot of people during a pandemic,” said Myers.
Vanishing affordable rentals
But all this change has just put more pressure on the rental market that’s been seeing declines in rental options for low earners for more than a decade, according to housing policy researcher Steve Pomeroy.
He uses Canada Mortgage and Housing Corporation (CMHC) data to probe losses in the rental market.
Rents can fluctuate on average three to five per cent, says one expert. But when the pandemic hit they dropped, on average, 15 to 20 per cent. (CBC)
Pomeroy, the senior research fellow for the Centre of Urban Research at Carleton University, estimates that between 2011 and 2016, the number of rental units that would be affordable for households earning less than $30,000 per year — with rents below $750 — declined by 322,600 in Canada.
That has an effect on the one in three Canadians who rent, according to 2016 census data.
Pomeroy says historically Quebec offered the largest rental stock available in the country.
“Quebec has always been culturally very different. Rent is much more culturally accepted. It’s a bit about European influence … You get these very scenic estates of two-, three-storey homes with the wrought iron staircase and with three units, and two are rented. So by definition, two-thirds of your population are renters,” he said.
He says perhaps it’s time for the remainder of Canada to consider a more European model, where renting is more accepted.
He says there are many cities, in France and Germany for example, where renters almost match owners in population.
North America historically has had a different culture, where owning is seen as better.
“Traditionally there has been very strong support for home ownership. Here in Canada we’ve had mortgage insurance including increasing access to credit for buyers … the political system has very much reinforced that belief system, that ownership is the right thing to do.”
But now, tenancy and anti-poverty organizations are lobbying for more renters’ rights. That’s something Pomeroy sees as a positive shift.
He also says he believes many younger Canadians see renting as their future. It gives them the freedom to pursue experiences, move for jobs and not remain tethered to a property that they can’t afford.
Pomeroy recently asked his graduate students — all employed and in their 20s — if they thought they could buy a home in the next five years. Would you want to?
He says he was surprised to hear for the first time, none of them believed they could.
“Nobody thought they could, and only about half actually wanted to.”
Historically, Quebec has had the most rental stock available in the country, like this Montreal building, seen in May, featuring a wrought-iron staircase and a shared garden area. (Ivanoh Demers/Radio-Canada)
MILAN (AP) — Bologna’s preparations for its Champions League debut are not going well though it managed to spoil Como’s first Serie A home match in 21 years on Saturday.
Bologna came from two goals down to salvage a 2-2 draw to gather three points from its opening four matches.
Bologna hosts Shakhtar Donetsk on Wednesday. Its only other appearance in Europe’s top competition was in 1964 in the preliminary round of the old European Cup.
AC Milan is also winless as it prepares for a Tuesday Champions League match against Liverpool. The Rossoneri hosted promoted Venezia later. Juventus drew at Empoli 0-0.
Como made a great start in the fifth minute when Patrick Cutrone attempted to roll the ball across the six-yard box but it took a huge deflection off Bologna defender Nicolò Casale for an own goal.
Bologna thought it was gifted a way back into the match on the stroke of halftime when referee Marco Piccinini signalled for a penalty following an Alberto Moreno handball, but he revoked his decision and instead gave a free kick because the handball was just outside the area.
Bologna improved after the break but found itself further behind when Cutrone raced onto a through ball and cut inside past a defender and fired into the far bottom corner.
Tommaso Pobega hit the post for Bologna, which finally pulled one back in the 76th through substitute Santiago Castro.
Another substitute helped the visitors snatch a point when Samuel Iling-Junior curled a fine strike into the top left corner in stoppage time.
Unbeaten sides
Juventus, and more surprisingly Empoli, are among six unbeaten sides.
Empoli held Monza and Bologna to draws either side of a shock 2-1 win at Roma. Juventus’ perfect start to the season was ruined by Roma in a goalless draw before the international break.
On Saturday, there were few clearcut chances in Empoli although home goalkeeper Devis Vásquez made spectacular saves to fingertip out a Federico Gatti header and deny Dusan Vlahovic in a one on one with the Juventus forward.
Empoli had a good opportunity in the 73rd minute following an Alberto Grassi one-two with Pietro Pellegri but the finish was straight at Mattia Perin.
The host could have won it right at the death but Gatti flew in with a great sliding block to keep out Emanuel Gyasi’s close-range effort.
Juventus hosts PSV Eindhoven in the Champions League on Tuesday.
MANCHESTER, England (AP) — Not good enough. That was Arne Slot’s verdict after his first defeat as Liverpool manager on Saturday.
A shock 1-0 loss at home to Nottingham Forest in the English Premier League ended Slot’s perfect record since succeeding Jurgen Klopp at Anfield at the end of last season.
“We had a lot of ball possession but only managed to create three (or) four quite good chances, so that is by far not enough if you have so much ball possession,” said the Dutchman, who suggested his team should not be losing to the likes of Forest.
“If you lose a home game it’s always a setback, especially if you face a team … we never know, maybe they will go all the way to fight for Champions League tickets, but normally this team is not ending up in the top 10, so if you lose a game against them that’s a big disappointment.”
Slot won his first three games in charge, including a memorable 3-0 victory against Manchester United before the international break.
But that run came to an end after Callum Hudson-Odoi struck in the 72nd with a curling effort from the edge of the box and beyond goalkeeper Alisson.
Liverpool’s defeat leaves Manchester City as the only team with a 100% record in the league after a 2-1 win against Brentford kept the defending champion at the top of the table.
United won at Southampton 3-0 to end its two-game losing streak.
Unstoppable Haaland
Erling Haaland moved to 99 goals for City after scoring twice against Brentford.
The Norwegian’s double came after Yoane Wissa fired Brentford ahead with just 22 seconds on the clock.
Haaland scored his 98th and 99th goals in his 103rd City appearance in all competitions. And he was the width of the post away from his third consecutive hat trick after trebles against Ipswich and West Ham.
“He’s been really, really good. Yeah, I would say he’s the best (he’s been), but it’s only four fixtures (this season),” City manager Pep Guardiola said.
Haaland, who has been nominated for the Ballon d’Or, has nine goals in four league games. He has topped the league scoring charts in each of his two seasons at City since joining from Borussia Dortmund in 2022 for $63 million.
Haaland’s first goal after 19 minutes evened the game following Wissa’s opener, which stunned the Etihad Stadium crowd. Haaland turned and swept a shot past goalkeeper Mark Flekken after a slight deflection off Ethan Pinnock.
He was then too strong for Pinnock when shaking off the defender and running through for his second in the 32nd.
He was inches away in the 81st; the shot came back off the post after beating the keeper.
Rashford snaps run
Marcus Rashford snapped a 12-game barren run in front of goal as United beat Southampton.
Rashford doubled United’s lead at Saint Mary’s after Matthijs de Ligt’s scored his first for the club. Substitute Alejandro Garnacho scored a third in the sixth minute of stoppage time.
The win came after back-to-back defeats for United.
Rashford hadn’t scored since March in United’s win over Liverpool in the FA Cup quarterfinals. He curled in a shot from the edge of the area to put Erik ten Hag’s team 2-0 up at Southampton in the 41st minute.
Ten Hag said it could be a turning point for the forward.
“For every striker, they want to be on the scoring list. Once the first is in, more is coming. Like a ketchup bottle, once it’s going, it’s coming more,” he said.
De Ligt, who joined United from Bayern Munich in the offseason, headed in from Bruno Fernandes’ cross in the 35th.
It could have been a different story if Cameron Archer converted a penalty for Southampton in the 33rd. Instead, his effort was saved by goalkeeper Andre Onana.
Newly promoted Southampton was reduced to 10 men when Jack Stephens was sent off in the 79th for a high challenge on Garnacho.
Villa comeback
After three straight defeats to start the league, Everton looked set for its first win when leading Aston Villa 2-0.
Goals from Dwight McNeil and Dominic Calvert-Lewin put Sean Dyche’s team in control until Ollie Watkins struck twice to even the game.
Jhon Duran completed Villa’s comeback and sealed a 3-2 win in the 76th to leave Everton rooted to the bottom of the table and the only top flight team without a point.
Late drama
Jean-Philippe Mateta converted a stoppage time penalty to salvage a 2-2 draw for Crystal Palace against Leicester.
Leicester led 2-0 at Selhurst Park after goals from Jamie Vardy and Stephy Mavididi.
But Mateta sparked Palace’s response with a goal in the 47th, a minute after Mavididi doubled Leicester’s advantage.
Conor Coady fouled Ismaili Sarr in the box right near fulltime and Mateta was cool enough to convert.
West Ham left it even later to salvage a point in a 1-1 draw at Fulham.
Danny Ings struck in the fifth minute of added time after Raul Jimenez’s goal looked like earning Fulham the win.
Brighton boss Fabian Hurzeler, the manager of the month for August, was frustrated as his team was held to 0-0 at home by Ipswich.
CLEVELAND (AP) — Restricted free agent forward Isaac Okoro has agreed to re-sign with the Cleveland Cavaliers on a three-year contract, a person familiar with the negotiations told The Associated Press on Saturday.
Okoro’s new deal is worth $38 million, according to the person who spoke to the AP on condition of anonymity because the contract has not been signed or announced by the team.
ESPN.com first reported the agreement, citing Okoro’s representation.
The fifth overall pick in the 2020 NBA draft, Okoro is Cleveland’s best perimeter defender, often drawing the assignment of guarding the opponent’s top scorer. Okoro also has worked to improve his offensive game.
The 23-year-old averaged 9.4 points and 3.0 rebounds in 69 games — 42 starts — last season for the Cavs, who beat Orlando in the opening round of the playoffs before losing to eventual champion Boston.
Okoro shot a career-best 39% on 3-pointers, forcing teams to come out and guard him.
His agreement caps an extraordinarily busy summer for the Cavs that began with coach J.B. Bickerstaff being fired and replaced by Kenny Atkinson. All-Star guard Donovan Mitchell signed a three-year, $150 million extension in July, ending months of speculation that he wanted out of Cleveland.
Also, power forward Evan Mobley signed a five-year, $224 deal and center Jarrett Allen signed a three-year, $91 million extension.
