Rental Market

  • Considering the number of households in core housing need, the amount of 3+ bedroom rental housing in the Saskatoon market is insufficient.
Table 1.8 : Number of Private Apartment Units in the Universe by Zone and Bedroom Type, Saskatoon CMA
Zone Bachelor 1 Bedroom 2 Bedroom 3+ Bedroom Total
Zone 1- Central 185 1,173 780 16 2,154
Zone 2 – South 217 1,520 1,366 59 3,162
Zone 3 -Southeast 24 427 1,050 42 1,543
Zone 4 -Northeast 81 411 665 33 1,190
Zone 5 -North 15 413 667 15 1,110
Zone 6 -Southwest 35 493 889 145 1,562
Zone 7- West 31 508 1,459 218 2,216
Saskatoon City (Zone 1-7) 588 4,945 6,876 528 12,937
Zone 8 – Outlying areas 1 19 36 24 80
Saskatoon CMA 589 4,964 6,912 552 13,017
Source: Rental Market Report – Saskatoon CMA – Fall 2014
  • Rents have increased significantly over the past ten years, and continue to rise even with a softening market. Since 2006, rents have increased by 60% on average.
Table 1.9 : Private Apartment Average Rents ($) by Zone and Bedroom Type, Saskatoon CMA
Zone Bachelor 1 Bedroom 2 Bedroom 3+ Bedroom Total
Zone 1- Central 733 936 1,193 1,169 1,011
Zone 2 – South 673 865 1,065 1,248 947
Zone 3 -Southeast 702 867 1,030 1,135 980
Zone 4 -Northeast 638 881 1,159 1,361 1,035
Zone 5 -North 654 887 1,048 ** 985
Zone 6 -Southwest 645 797 1,011 1,121 947
Zone 7- West 819 926 1,152 1,159 1,095
Saskatoon City (Zone 1-7) 694 885 1,093 1,170 998
Zone 8 – Outlying areas ** ** 824 1,215 918
Saskatoon CMA 693 884 1,091 1,172 998
Source: Rental Market Report – Saskatoon CMA – Fall 2014

 

Table 1.10 Private Apartment Average Rent($) and Estimate of Percentage Change (%) of Average Rent by Bedroom Type Saskatoon CMA
Year Bachelor 1 bedroom 2 bedroom 3+ bedroom Total
Cost % Change Cost % Change Cost % Change Cost % Change Cost % Change
2006 395 496 608 639 556
2007 435 13.0 564 15.0 693 13.5 732 16.1 632 13.8
2008 518 18.4 675 19.4 841 20.3 860 17.6 761 19.6
2009 568 9.1 739 8.9 905 8.3 918 7.2 827 8.2
2010 599 3.0 765 3.3 934 4.0 959 4.3 853 4.1
2011 632 5.6 787 2.5 966 2.8 1,075 2.8 881 2.7
2012 655 4.4 815 3.3 1,002 2.4 1,057 2.7 918 2.9
2013 666 4.0 845 4.5 1,041 4.0 1,114 5.1 951 4.1
2014 693 5.4 884 4.2 1,091 4.3 1,172 2.8 998 4.4
Source: CMHC