Average Vacancy Rate (Seniors Rental Market)

Definition:

Average vacancy rates of seniors rental market housing for both standard and non-standard housing.

The vacancy rate is defined as units that were unoccupied and available to rent but no lease was signed yet.

Methods and Limitations:

Canada Mortgage and Housing Corporation conducts the Seniors’ Housing Survey in February of each year. This annual survey became national in scope in 2009, covering all centres in each of the ten provinces. Both private and non-profit residences are included in the survey universe.

The survey looks at two types of spaces: standard and non-standard. Standard spaces, also referred to as independent living, are those occupied by a resident paying market rent and who does not receive 1.5 or more hours of care per day. Residents living in a non-standard space receive at least 1.5 hours of high-level care per day. Examples of conditions that could require high-level care include Alzheimer’s, dementia and reduced mobility. Respite and non-market spaces are also non-standard.

To be eligible for inclusion in the survey results, a residence must:

• have at least one unit that is not subsidized (in the Atlantic provinces, Quebec and Ontario);
• have been in operation for at least one year (for example, it must have started operation before January 2012 to be included in the 2013 survey);
• have at least 10 rental units (in Quebec, Ontario and the Prairies) or 5 rental units (in the Atlantic provinces and B.C.);
• offer an on-site meal plan;
• not mandate high levels of health care (defined as 1.5 hours or more of care per day) to all of its residents; nursing homes and long-term care homes are examples of residences that were not included in the survey;
• offer rental units; life lease units and owner-occupied units are excluded from this survey; and
• have at least 50 per cent of its residents who are 65 years of age or older.

The Seniors’ Housing Survey is a census and not a sample survey; therefore, all seniors’ residences in Canada meeting these criteria are to be part of this survey. The survey universe in Quebec may include private residences that do not meet the conditions for obtaining a certificate of compliance.

Survey data were obtained through a combination of telephone interviews and fax and e-mail responses. Information was obtained from the residence owner, manager or administrator. Survey results reflect market conditions at the time of the survey. Survey results have been weighted to adjust for non-responses, in order to ensure that they are reflective of the universe. The level of statistical reliability is noted in the data tables.

All statistics published, excluding information on new market supply, include only those residences that have been in operation for at least one year.

Source(s):

Canadian Mortgage and Housing Corporation. 2022. Housing Market Information Portal

Canadian Mortgage and Housing Corporation. 2023. Rental Market Report: Canada and Select Markets

Data is updated on Vital Victoria as it becomes available from the data providers.