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Area of Impact

Housing

Indicator

Vacancy Rate

Integrated Policy & Action Areas

C3.1

Community Safety & Security

C3.2

Affordable Housing

Reporting Period Data

Period Score
2019 67%
2020 33%
2021 53%
2022 73%

Sustainability End Goal

The rental vacancy rate must be 3% or greater to ensure there is sufficient rental units for those who need them.

Metric

Nanaimo’s annual vacancy rate
3%

How The Score Is Calculated

If Nanaimo’s annual rental vacancy rate is 2.5%, the score is 2.5%/3% = 83%.

Indicator Data

Total Vacancy Rate and Target

Rationale and Analysis

Why We Measure This

In general, a healthy rental vacancy rate is considered to be around 3%. Under such condition, tenants will have many options available. The rents are held at reasonable levels that do not impact housing affordability.

How We Measure It

The City collects annual rental vacancy rate from the Canadian Mortgage and Housing Corporation.
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