Housing Crunch Eases in Calgary

That is, for those who can afford housing.

The Calgary Herald is reporting that the gap between housing supply and demand has narrowed due mainly to the fact that the city’s population growth has recently slowed. The 2008 civic census indicates that there are currently 432 997 residential dwellings in Calgary – a rise of 12 686 units over the past year.

With 9199 vacant dwellings, Calgary’s current vacancy rate is 2.23%.

While the vacancy rate increases, however, the waitlist for low-cost housing is constantly growing. The list has currently over 2600 names of it.

While the cost of rent has remained constant, the cost remains high, making it difficult to find a suitable place to live for those who can’t afford the inflated monthly fees.

The average cost to rent a one-bedroom apartment in Calgary is approximately $919/month. A two-bedroom apartment goes, on average, for $1096/month.

Add on the rising cost of food, fuel, and utilities, and suddenly the mere availability of housing doesn’t appear to help shelter those who can’t afford it in the first place.