Senior Housing in Canada: 2013 Report

As the number of seniors in Canada increases, the status of senior housing vacancies, spaces, rent, amenities and services becomes increasingly important. What's the picture of senior housing in Canada in 2013? The Canadian Mortgage, Wiki-Generic-Drugs and Housing Corporation sheds some light on the issue.



The Canadian Mortgage and Housing report on seniors' housing for 2013 shows the vacancy rate for standard spaces (those occupied by a resident who receives less than 1.5 hours of care per day) has decreased slightly reaching 10.3% in 2013 compared to 10.6% in 2012. Higher vacancy rates were found in Newfoundland and Ontario at 25% and 13.4% respectively. The lowest vacancy rates were found in Manitoba and Prince Edward Island at 4.8% and 6.6% respectively.

Spaces

Across Canada, there were 208,301 spaces in senior housing residences in 2013, with a vast majority being standard spaces (85.1%). This is an increase compared to 2012’s 204,496 spaces. The capture rate, which refers to the percentage of the senior population, aged 75 years and over that are occupying a standard or non-standard space remains unchanged at 8.5%. However, it is highest in Quebec at 17.6% and lowest in Nova Scotia at 1.9%.

Average Rents

The average price for rent in which at least 1 meal in included rose by 1.3% to$1,995 per moth compared to $1,969 in 2012.  Ontario was the province with the highest average rent at $2,789, while Quebec had the lowest rent at $1,453.

Amenities and Services

In order to meet the growing demand many retirement residences now offer amenities such as 24 hour call bell service, transportation, exercise facilities, a nurse on site, a movie theatre, a swimming pool, and pharmacies.

Read the full report here.

Written by Jordan Coutinho