2018 analysis of the retirement home market in Quebec – CMHC Report

The Canada Mortgage and Housing Corporation (CMHC), Canada’s national housing agency for almost 70 years, recently published the results of its survey, the 2018 Seniors’ Housing Report. The report provides an analysis of the retirement home market in Quebec. Private residences and non-profit residences are included in the survey.

There were some notable findings that emerged from the CMHC’s survey, including that the vacancy rate for standard spaces was 6.9% in February of this year, compared to 6.2% for the same period last year, and that the average rent for standard spaces is $1,729 per month. The term “standard spaces” refers to “spaces occupied by residents who receive less than 1.5 hours of care per day or is not required to pay an extra amount to receive high-level care ¹.”

Moreover, for the Montreal, Quebec City and Sherbrooke census metropolitan areas (CMAs), the average age of residents, all types of housing combined, is 84 years.

Montreal Census Metropolitan Area

In the Montreal CMA, which has 55,305 residents, statistics show that the vacancy rate for all types of housing increased slightly. The vacancy rate for standard spaces is 6.5% compared to 5.9% for 2017. What’s more, single rooms and apartments with 2 rooms or more represent the lowest proportion of vacant dwellings.

In this metropolitan area, the average rent for standard spaces is $1,803 per month. In the northern suburbs of Laval and the North Shore, the average monthly rent for standard spaces is the lowest at $1,767.

The figures also show that the number of seniors living alone increased this year. There were 40,185 people in 2017 compared to 41,216 in 2018. Additionally, 5,783 seniors lived as a couple in 2017 compared to 6,989 seniors in 2018, all types of housing combined.

Quebec City Census Metropolitan Area

The Quebec City CMA has 14,967 residents and the vacancy rate for Quebec City retirement homes increased by 2.6%, from 5% to 7.6%.

The average monthly rent for standard spaces is around $1,769 and its maximum cost was reached in the Sainte-Foy–Sillery area ($2,115).

The figures show that 11,822 seniors were living alone last year and 12,270 seniors are living alone this year. Compared to last year (1,404), some 1,348 seniors lived as a couple, regardless of the type of housing.

Sherbrooke Census Metropolitan Area

The Sherbrooke CMA has 4,534 residents. The vacancy rate for retirement homes in Sherbrooke  increased. It rose from 10.2% in 2017 to 10.9% in 2018. For example, the vacancy rate for single rooms in Sherbrooke saw a major increase, from 6.5% to 10.8%.

As for the average monthly rent for standard spaces, it came in around $1,614. In the city of Sherbrooke, the maximum cost is $1,584.

Compared to last year (3,666), some 3,807 seniors lived alone in 2018. Last year (372), 363 seniors were living as a couple, all types of housing combined.

Trois-Rivières Census Metropolitan Area

In Mauricie, the Trois-Rivières CMA has 4,356 residents. The vacancy rate for retirement homes in Trois-Rivières went from 10.5% in 2017 to 9.7% in 2018.

In this metropolitan area, the average rent for standard spaces is $1,706 per month. The lowest average standard monthly rent of $1,426, is in the Trois-Rivières-Ouest area.

The number of seniors who live alone increased slightly. In fact, 3,507 people lived alone in 2017, while there were 3,560 in 2018. The number of seniors living as couples fell from 508 in 2017 to 398 in 2018.

Gatineau Census Metropolitan Area

In the Outaouais region, in the Gatineau CMA, the total number of residents increased this year. In 2017, there were 3,375 residents identified and in 2018, there were 3,537.

The vacancy rate for retirement homes in Gatineau was 5.4 % in 2018 compared to 8.1 % in 2017.

The report also revealed that 2,653 seniors were living alone in the Gatineau CMA in 2017 and that this year, 2,792 people are living similarly. There were 362 people in 2017 living as a couple. This number increased to 372 in 2018.