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flag Canada's rental market sees biggest supply boost in decades, yet affordability issues persist.

flag In 2024, Canada saw its largest increase in purpose-built rental supply in over three decades, raising the vacancy rate to 2.2% and slowing rent growth to 5.4% for a two-bedroom apartment. flag Despite this, affordability remains strained as many new units are priced too high for average renters. flag The average rent for a two-bedroom unit is $1,447, an increase from $1,373, but still lower than the 8% growth seen in 2023. flag While Toronto saw the smallest rent increase, Vancouver and Montreal maintained robust growth due to strong demand.

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