Gap between average monthly rental rates for co-op and market units is largest in Vancouver

Average market rental costs continue to go up in Metro Vancouver with interest rates rising and vacancy rates very tight.

The report released Tuesday by the Co-operative Housing Federation of Canada looked at the difference between co-op and market rents in Vancouver, Victoria, Ottawa, Toronto and Edmonton. It had input from regional groups that advocate for protecting existing co-ops and building new ones as a way of providing affordable housing.Article content

“Because of the relative affordability of co-ops, the cost to government of supporting low-income households in co-op housing is much lower than supporting those same households in the private market,” said Thom Armstrong, CEO of the Co-operative Housing Federation of B.C. One co-op property in Vancouver, the Aaron Webster, was transferred to Olympic Village and the trust with no net loss of units.Article content

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