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Economic Impacts of COVID-19 on Rental Markets

Date: March 31, 2020

Residential Rental Market

  • Individuals are concerned about their ability to pay their rent if they have been laid off as a result of COVID-19. Governments are providing various means of income support to alleviate this situation.
  • Monthly rental payments are approximately $100 million in Atlantic Canada.
  • About 27% of Atlantic households are renters rather than homeowners.
  • Average monthly income of lessors of residential dwellings in 2018 (including rent and other income) was $165 million.

For more information on how COVID-19 is impacting the residential & non-residential market, see our industry assessment page.

 


 

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