Low vacancy, high rents continue to make Halifax hard for renters

Halifax's rental market remains exceptionally tight, presenting significant challenges for residents seeking affordable housing. Recent reports indicate the city is experiencing low vacancy rates and escalating rents, a trend that sets it apart from many other Canadian urban centers. This situation is making it increasingly difficult for renters to find suitable and affordable accommodations.

“

I say it’s only manageable because I’m splitting the rent with my roommates.

The Canada Mortgage and Housing Corporation's (CMHC) mid-year rental report highlights a vacancy rate of just 2.7% for purpose-built rental apartments. While this rate saw a slight increase in 2025 due to slower migration and steady housing supply growth, rent growth has simultaneously accelerated. The average rent for a two-bedroom unit climbed by 6.7% last year. This surge is attributed to landlords maximizing allowable rent increases and a widening disparity between what existing and new tenants pay.

“

The market is easing, but the easing we are seeing is at the top. There’s still affordability pressures that still persists at the bottom.

Affordability pressures are particularly acute for lower-income renters, with vacancy rates for units priced at $1,349 or less dropping to a mere 0.7%. Kelvin Ndoro, an economist with CMHC, noted that while the market is easing at the higher end, affordability issues persist at the lower end. A national report also identified Nova Scotia as having the highest average rental prices for apartments and condominiums.

“

You’ll see a big difference. There’s about 13,000 units coming to market in that time period.

In response to the crisis, a significant number of new housing units are planned, with approximately 13,000 expected to enter the market. Kevin Russell of Rental Housing Providers Nova Scotia believes this influx could increase competition and stabilize rents. However, Ndoro cautions that simply adding more apartments may not be sufficient. He suggests that building non-market housing and single-family homes would be crucial steps in tackling Halifax's affordable housing shortage effectively. Residents like Dalhousie University student Christy Hochau are already feeling the pinch, stating, “I say it’s only manageable because I’m splitting the rent with my roommates,” as she pays over $1,000 for a single room.

“

If you have more supply, it gets more competitive. And when it’s more competitive, you’ll start seeing rents fluctuating across the market.