Email this pageAverage Market Rents - 2013
Rental units receiving funding under the Affordable Housing Program (AHP) or the Investment in Affordable Housing for Ontario (IAH) program will have maximum rents set at or below the Average Market Rent as determined by the annual Canada Mortgage and Housing Corporation (CMHC) survey. Service Managers may adjust these average rents if the CMHC survey areas do not correspond exactly to the Service Manager’s geographic area. Service Managers have the option to set target rent levels for projects below CMHC average rents. View CMHC Average Market Rents for apartments (41K) and row structures (40K).
Service Managers will set the average rent for all AHP or IAH-funded units in a project. Rents are required to be at or below 80 per cent of Canada Mortgage and Housing Corporation (CMHC) Average Market Rent (AMR). Average rent for a project is calculated using the actual rents paid by tenants after factoring in rent supplement or housing allowance assistance. Other reasonable methods of achieving 80 per cent of CMHC AMR for a project will be considered on a case-by-case basis.
Housing projects that include AHP, IAH-funded units and market rent units are possible, but only units with rents at or below the CMHC AMR can receive AHP or IAH funding.
In some Service Manager areas, maximum rents will be based on a Modified Ontario Works (OW) shelter allowance. The proponent is allowed to charge rents of up to 105 per cent of a modified OW shelter allowance, provided it does not exceed the CMHC AMR. In areas where 80 per cent of CMHC AMR is less than 105 per cent of a modified shelter allowance, the higher rent will prevail.
The 2013 CMHC Average Market Rents and maximum rents for each municipality are: for bachelor apartments (35K), 1 bedroom apartments (35K), 2 bedroom apartments (35K), 3 bedroom apartments (35K), and 4 bedroom apartments (34K). These rents have been updated for 2013 and will be updated annually.