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The suburbs are now beating Vancouver in building rental housing: report

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Affordable-housing advocates say soaring rents in the suburbs are a symptom of a lack of low-cost rental supply in the major cities, where the bulk of the new rental stock has come from high.

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Apartment building owners are struggling to rent many of the luxury units that have flooded downtowns across the U.S. in recent years even as a relative shortage of multi-family homes in the suburbs.

Now, as the runaway train of prices for Metro Vancouver’s residential real estate has been slowing down, many voices are weighing in with opinions on the state of purpose-built rentals.

This report analyzes the continuum of the rental housing choices in the City of Vancouver today, with a primary focus on the contribution of market rental housing, consisting of the purpose-built rental housing stock, secondary suites, and rented condominium apartment units.

Finding affordable rental housing in Vancouver can be a challenge for residents of all income brackets. For lower-income tenants, it’s particularly difficult. That is why Council is actively working to protect the City’s existing supply of affordable rental housing, while adding an additional 5,000 units of non-market or social housing.

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 · Housing should be seen as a human right.. dead zones in the once-beating hearts of cities.. is no longer based on its social use,” the report says. “The housing is as valuable whether.

A peculiar thing happened as newcomers fled to Boise’s suburbs seeking. “luxury apartments” – a term daniel turnbull admits doesn’t actually mean much, except that the apartments rent at market.

Census estimates say the region built about 5,300 new units of multifamily housing and 8,600 single family homes in 2015. Most of these multifamily units are concentrated in inner Portland, while the majority of the single family housing has been built in the suburbs such as Washington County, Wilsonville and Vancouver.

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 · Average rents for class-A space in downtown Vancouver jumped to a record $44 per square foot in Q2, up from $42.02 in Q1. “Landlords are really pushing escalation of rents. You used to get five years at a flat rate. Now, they’re building in increases annually.”

Now. NSW, building on recent AHURI research, shows that the market cannot meet around 12% of all households’ needs. Only one-third of those are housed outside the market in public or community.