University students face tough housing search in tight Calgary rental market
CALGARY ` Small rooms, bug-infested cupboards and dirty roommates may all be the rituals of university life. But this year, a low vacancy rate and one of the highest average monthly rents in the country means students will be facing an especially daunting search for housing come Labour Day.
According to Canada Mortgage and Housing Corp. statistics, Calgary`s vacancy rate in April was 3.4 per cent, a drop from 5.3 per cent a year previous. The average rent for a two-bedroom apartment now stands at $1,040 per month, more than 20 per cent higher than the national average, according to Matt McMillan, the vice-president external with the University of Calgary`s student union.
`This year, we see that vacancy rates have been cut in half and costs are through the roof,` he said. This means more students will be making unkind compromises, choosing apartments with fewer amenities in dodgier locations.
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