Halton’s rental housing landscape is defined by a tightening market and rising rents, as revealed in a recently-released report by Community Development Halton.
Drawing on data from the 2021 census and the Canada Mortgage and Housing Corporation, the spring 2024 report highlights trends and challenges across the region.
Here are some of the key findings:
- Halton was home to more than 44,000 renter households in 2021. Burlington had the largest share with over 18,000 renter households, representing 41 per cent of the region’s rental housing. Oakville followed with over 16,000 renter households, while Milton and Halton Hills had 7,000 and 3,200, respectively.
- More than 10 per cent of these households were in subsidized housing, which typically serves low-income families, seniors, individuals with disabilities and newcomers. Burlington and Oakville each had about 2,000 subsidized households, making up 80 per cent of the region's total. Milton and Halton Hills each had around 450 subsidized units.
- The report noted that in 2023, Halton had approximately 16,000 purpose-built rental units. Burlington led with over 10,000 units, representing 63 per cent of the total. Oakville had over 4,800 units, while Milton had about 600 units. Halton Hills saw a 43 per cent reduction in its purpose-built units, totalling over 430 units.
- Tight vacancy rates for purpose-built units, falling below the three per cent threshold, underscore the region's strained rental market, the report states.
- Average rents for purpose-built housing increased overall from 2020 to 2023, except in Halton Hills, where rents dropped by 8.3 per cent due to the reduction in available units. In 2023, Oakville had the highest average rent at $1,883, followed by Burlington, Milton, and Halton Hills. Milton experienced the highest rent increase (14 per cent) from 2020 to 2023, while Oakville and Burlington rose by 13 per cent and 11 per cent, respectively.
- In 2021, the average rent for all renter households in the region was $1,904, with Oakville's rents being 13 per cent higher than the regional average. The average rent was $2,146 in Oakville, $2,042 in Milton, $1,706 in Burlington and $1,468 in Halton Hills.
