Vacancy rate in Medicine Hat sits below provincial average
MEDICINE HAT, AB — Medicine Hat current vacancy rate is lower than the provincial average, according to the new report from the Canada Mortgage and Housing Corporation (CMHC).
The 2017 Rental Market Survey was release Tuesday morning. According to the report, Medicine Hat’s vacancy rate sits at 6.2 per cent, down from the Alberta average of 7.5 per cent. The survey was conducted in October.
“That’s primarily because there were more rental units in the marketplace this year,” said Lai Sing Louie, regional economist for the Prairies and Territories with CMHC. “Even though demand increased a bit, the increase in rental apartments helped push up the vacancy rate.”