TIMELINE: The Events In The Ongoing $10M iPro Realty-RECO Scandal

Vacancy Rate

Learn about vacancy rates in Canadian real estate — what they are, how they’re calculated, and why they matter for landlords and investors.

Vacancy Rate

August 01, 2025


What is Vacancy Rate?

The vacancy rate is the percentage of all available rental units in a property or market that are unoccupied at a given time.

Why Vacancy Rate Matters in Real Estate

In Canadian real estate, vacancy rates are a key indicator of rental market health, property performance, and future rental pricing trends.



How it’s calculated:
  • (Vacant units ÷ total units) × 100
  • Can be measured for specific properties, submarkets, or regions



Understanding vacancy rates helps landlords adjust leasing strategies and investors evaluate income potential.

Example of Vacancy Rate in Action

The city’s apartment vacancy rate dropped to 2%, signalling strong rental demand and limited supply.

Key Takeaways

  • Measures percentage of unoccupied rental units
  • Indicates market supply and demand balance
  • Affects rental pricing and property values
  • Used by landlords, investors, and lenders
  • Balances with occupancy rate for full market view

Related Terms

Additional Terms

Recourse Loan

A recourse loan is a type of loan where the lender can pursue the borrower’s personal assets, beyond the collateral, in the event of default.. more

Pari Passu

A pari passu clause is a contractual provision ensuring that multiple creditors share equally in repayment priority from the borrower’s assets.. more

Non-Recourse Loan

A non-recourse loan is a type of loan where the lender’s only remedy in case of default is to seize the collateral property; the borrower is not. more

Net Operating Income

Net operating income (NOI) is the total income generated by a property after operating expenses are deducted but before taxes and financing costs.. more

Mechanic's Lien

A mechanic’s lien is a legal claim by a contractor, subcontractor, or supplier for unpaid work or materials provided for a property.. more

Lis Pendens

Lis pendens is a legal notice filed in the land registry indicating that a property is subject to ongoing litigation that may affect its title.. more

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