A brisk rise in Canmore rental prices 

Mountain News: For the week of Aug. 15

click to enlarge PHOTO: UNSPLASH.COM

CANMORE, Alta.—Housing rentals have been rising at a brisk rate in Canmore, the gateway community to Banff National Park. In the span of just four years, costs have increased 71 per cent, according to a recent study. No word on how much incomes have grown during the same time span.

A one-bedroom rental this year fetches $1,483, compared to $866 in 2016. Even then, according to a study, 29 per cent of renters in Canmore were paying 30 per cent or more of their pre-tax income on rent. The Canadian Rental Housing Index holds that paying 30 per cent to 49 per cent is unaffordable, and 50 per cent or more is severely unaffordable, pointed out the Rocky Mountain Outlook.

"I think everyone who deals in housing knows that low-income single adults are very underserved, the people with disabilities are underserved, the number of people who are paying (more than 30 per cent of their income) is outrageous compared to the rest of the province and the rest of the country," said Ian Wilson, the chief administrative officer for the Bow Valley Regional Housing.

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