Housing Needs

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Introduction Key Findings The following section provides an overview of the rental housing market The following are key findings from this section: in Collingwood. This includes commentary on macro-level data from • The Town of Collingwood has very limited purpose-built rental supply, CMHC, as well as a survey of available rental inventory in the primary with only 562 units as of 2022. (purpose-built) and secondary (privately-owned) rental markets. • The rental universe in Collingwood has been declining over the past The purpose of this section is to establish the types of rental options several decades from a high of 782 units in 1991 as the rate of that are available to current and prospective residents in Collingwood. conversion to condominiums and demolition has far outpaced new This section considers the full range of rental housing types – including rental development. both low-rise and apartment options, both new and older product. • Purpose-built rental rates have been increasing annually over the last two decades, with more substantial growth in the last five years. Today, rents for available purpose-built rental units often exceed $2,000 per month, even for some one-bedroom apartments. • A lack of new purpose-built rental development has meant that the secondary market – privately leased units – has had to fill the gap between demand and supply for rental

housing_needs_assessment_2023#p33.0

Prototype. Not an official Town of Collingwood product, and not legal or planning advice. The passage above is an excerpt of a public document. Read the original before you rely on it.