Halifax renters had “no relief” in 2022, according to Canada Mortgage and Housing Corporation’s latest rental market report.

The city’s average rent increased by 8.9 per cent to $1,350, despite the province’s two per cent rent cap for tenants who remain in the same unit.

“There was no relief for renters in 2022, as the vacancy rate was unchanged and average rent increased at the fastest pace on record,” senior analyst Kelvin Ndoro stated in the report released Jan. 26.

This marks the highest single-year increase since 2002 and four times the average historical baseline since 1990, according to the housing agency.

Continue reading the article: Average rent in Halifax increased at ‘fastest pace on record,’ CMHC report shows | The Signal (signalhfx.ca)