Facing a 5 percent average rent increase, the vacancy rate for seniors’ homes across BC raised in 2019 the first time in 7 years.
Seniors’ housing in BC is split between two categories in the annual Canadian Mortgage and Housing Corporation report, released yesterday.
Standard housing refers to residents paying market rent and receiving less than 1.5 hours of high-level care per day.
Non-Standard housing encompasses those who receive at least 1.5 hours of high-level care per day.
Among standard homes, the vacancy rate rose to 4.2 percent this year, compared to 3 percent last year.
For non-standard homes, the rate actually dropped to 1.3 percent from 2.1 percent.
Average rent among standard homes in 2019 also rose, up an average of 5.4 percent to 3,275 dollars per month.
Homes within the lowest cost range measured were in the highest demand.
