Special Analysis: Residential Affordability

 

In its efforts to attract business investment, Halifax bills itself as the city that offers TLC—talent, location, and cost advantages. There also is a TLC approach to Halifax’s real estate market more specifically. Can the talented people we need to propel our economy—post-secondary students, graduates entering the workforce, new immigrants, experienced professionals—find appropriate housing in a desirable location at a cost that is affordable and competitive with other cities?

This special analysis section examines real estate options and costs at various points in the professional lifecycle to generate a deeper understanding of how well or poorly the city is doing.

As Halifax seeks to become an educator to the world, does it offer students affordable accommodations? Maclean’s magazine collects data on average rent for students for its annual University Rankings issue. The graph below shows average student rent in Halifax and the six benchmark cities, plus the cheapest (Université de Sherbrooke) and the most expensive (University of Toronto) out of 49 universities to provide a sense of the overall range.

 

The three Halifax universities included in the survey are close to each other and in the middle of the pack among comparator cities, but towards the more expensive end of the rankings overall.

 

Average Monthly Rent Among Students Surveyed

Download the Halifax Index 2018

 

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The Halifax Index 2018 (PDF)

The Halifax Index Workbook (.xlsx)