RSS

Edmonton's Rental Market Crunch: What Students Need to Know and Where to Find Housing

As Edmonton's university students gear up for a new semester, many are finding themselves caught in an increasingly competitive rental market. The city's rental vacancy rate has dropped to its lowest point in nearly a decade, making the search for affordable student housing more challenging than ever.

According to the Canada Mortgage and Housing Corporation, Edmonton's vacancy rate for purpose-built rental apartments fell to just 2.4% in 2023, down from 4.3% in 2022. This decline comes as rental costs in Edmonton surge faster than in any other major Canadian city. In July alone, average rents rose by 14% compared to the same time last year. With one-bedroom apartments now averaging $1,424 per month, students are feeling the pressure more than ever.

The Strain on Students

This escalating rental market is taking a toll on students, particularly those living near school campuses where housing demand is highest. A recent survey by the University of Alberta Campus Food Bank highlighted that rising rent is a significant factor driving students to seek financial assistance. With limited options and increased costs, many students are struggling to find suitable and affordable housing.

The University of Alberta and MacEwan University have seen a surge in demand for on-campus housing, with waitlists becoming the norm. MacEwan's downtown residence now reserves its 860 beds exclusively for its students, even converting guest suites into additional student spaces. Meanwhile, NAIT and Norquest College, located in central Edmonton, lack their own residence buildings, further straining the rental market.

Housing Solutions for Students

In response to these challenges, platforms like Elev are stepping in to help students navigate the housing market. Created by U of A grads, Elev provides rental listings, roommate connections, and services to assist students, including international students, in finding housing. With over 3,000 users, the platform is a valuable resource for those seeking affordable options.

However, the need for purpose-built rental housing, especially with multi-bedroom units, remains critical. Students are increasingly seeking more affordable and accessible housing options, and this is where Iconic YEG steps in to offer solutions.

Discover Affordable Housing at Sona Park and The Beacon at East Junction

For students seeking high-quality, affordable housing in Edmonton, Sona Park and The Beacon at East Junction, both professionally leased and marketed by Iconic Projects, offer excellent options.

Sona Park, located in North Glenora, provides modern apartments with stunning views of North Glenora Park. These 48 units offer a serene and convenient living environment, ideal for students looking to balance their studies with a peaceful lifestyle. The location is well-connected to major educational institutions:

The Beacon at East Junction offers a vibrant community atmosphere, perfect for students who want to be close to the action while still enjoying a comfortable and stylish living space. Located in the up-and-coming East Junction neighborhood, The Beacon provides exceptional connectivity, with the Holyrood LRT line right at its doorstep, offering access to downtown Edmonton in under 8 minutes. Its proximity to major institutions is a significant advantage:

Why Choose Sona Park or The Beacon at East Junction?

Both Sona Park and The Beacon at East Junction provide students with convenient, affordable, and high-quality living options in Edmonton’s tight rental market. Whether you're looking for a quiet retreat close to nature or a bustling community with easy access to downtown amenities, these properties have something to offer.

Students can secure a home that meets their needs and enhances their university experience. Explore Sona Park and The Beacon at East Junction today, and find out why these properties are perfect for your student lifestyle.

Read

 Live a Life of Luxury in East Junction’s THE BEACON

The newest and most luxurious apartment building in Edmonton is here. THE BEACON at East Junction offers penthouse amenities, concrete construction, luxury finishes, and stunning views of Downtown Edmonton and the North Saskatchewan River Valley. It's everything you could want in an apartment—and more! 

The first tower in this sought-after development is THE BEACON, located at the apex of Edmonton’s East Junction. This premier complex provides residents with top-notch amenities such as a state-of-the-art fitness center, high-end appliances and fixtures, onsite storage spaces for bikes and strollers, underground parking and more! And that's just scratching the surface! In addition to these fantastic amenities, there are also several options for dining and entertaining in the immediate area. From pubs to fine dining restaurants to cafes—East Junction has it all!

For those looking for unparalleled views from their apartment window or balcony (or both!), look no further than THE BEACON. With its panoramic views of Downtown Edmonton and the North Saskatchewan River Valley, you can take in the beauty of Alberta’s capital city every day. Whether you’re hosting friends for drinks on your balcony or enjoying your morning cup of coffee while admiring the view from your living room window—you won’t be disappointed. Plus, with concrete construction throughout all units and soundproof walls between each floor—you can rest assured that noise won't be an issue either!

With so many great features available right outside your doorstep (literally) why not make THE BEACON your new home in 2023? In-person tours are starting in Januray and move ins anticipated for March 2023!

Read

Four Reasons Why You’ll Want To Call Edmonton’s Brewery District Home

With a unique blend of services, shops, and restaurants, The Edmonton Brewery District is perfectly conducive to hassle-free urban living. Here are a few reasons why you will want to call it home:


The Brewery District is Home to a Diverse Population of Edmontonians

Students, seniors, and young professionals alike have made their homes in the centre of the city. Families, empty nesters, and young adults out on their own for the first time effortlessly create an attractive vibe in The Brewery District that makes it feel welcoming, accessible, and inclusive. With amenities to support residents of all ages and stages of life, there is something for everyone.

Shop ‘til You Drop

The surrounding amenities provide everything you need just a few steps out of your front door. Loblaw’s City Market is your one-stop-shop for all
your favourite products. Offering fresh produce, ready-made food for on-the-go, and household essentials, you can shop for quality items at affordable prices. They also offer curbside pickup for those continuing to be COVID-conscious. With over 40,000sqft of space, GoodLife Fitness attracts fitness lovers from all over the central core who are looking for an affordable, full amenity workout space. Your journey to optimizing your health and wellness will be well supported with GoodLife’s group classes, personal trainers, and accessible exercise equipment.

Another popular anchor store in The Brewery District is MEC, which serves the adventure enthusiasts of the neighbourhood. Supplying all the essentials for outdoor activities, you’ll find yourself planning your next adventure as you browse the aisles.

Access to Educational Institutions

One of the benefits of The Brewery District is its ideal location for those wanting to be in close proximity to fantastic educational
institutions. MacEwan University is just down the road from The Brewery District – accessible on foot during the warmer months and serviced by frequent public transport for the colder seasons. Students, faculty, and staff will love the ease of living close to the University as they create that “University Town” feel in the middle of the city. Without the stress of a commute, The Brewery District is the perfect place to put down roots if you’re affiliated with the University.

For those with kids in grade school, Edmonton Academy is in the neighbourhood to offer specialized teaching for students who have learning challenges. Additionally, Oliver School also offers K-9 programs within the Edmonton Public School system.

Nearby Outdoor Spaces

Even though The Brewery District is located just alongside the downtown core, there is no shortage of outdoor spaces. Paul Kane Park offers a
great picnic spot with a water feature, tall trees for shade, paths, and benches for you to relax on your Sunday morning stroll. It is a serene spot loved by the community, and you might just be lucky enough to spot a small wedding or photography session taking place.

If you’re looking for a place to cool off during the summer heat, Oliver Outdoor Pool and a park are just across the road. Kept at a comfortable 29°C, Oliver Pool is a fun, family-friendly atmosphere that is easily accessible for urban residents. There are change rooms on site, a water slide, a sundeck, and a concession stand for when you’re feeling peckish. Keep in mind, their 2021 summer season is running at reduced capacity, so book a spot in advance!

Just a few blocks from The Brewery District sits the new Manchester Square re-development boasting its unique architecture and European-like grace. An outdoor fountain, promenade, and 19 locally owned businesses call this getaway spot home. This is the perfect spot to escape for an afternoon on foot with a coffee in hand and a reusable bag full of goodies.

Of course, most importantly is 121 West – the one place you will want to call home to be nearby all the places you’ll love to explore in The Brewery District. 

Read
Categories:   14810 | 2024 Edmonton Real Estate | 2024 Home Buyer | age in place | Alberta Avenue | Allisha Mckenzie | apartment | arthouse | assumable mortgage | Bank of Canada | Beaumont | Best Communities | boom and bust | boss | brewerydistrict | builder | business | Buyer Guide | Buyer Tips | buyertips | Buying | Caitlin Heine | Calgary | Calmar | Canada Real Estate | City of Edmonton | Coming Soon | Commercial Real Estate | Crestwood | culture | custom homes | decor | developers | developments | East Junction | East Village | edmontn | edmonton | Edmonton Buyer | Edmonton Communities | Edmonton Community | Edmonton Market Update | Edmonton Real Estate | Edmonton Schools | el-mirador | embraceequity | First Time Home Buyers | for sale | forest heights | Funding | furniture | Historical Homes | history | Holyrood, Edmonton Real Estate | Home Evaluation | Home Staging | homes | Homes for Sale | ICONIC | Iconic Agent | Iconic Projects | Iconic Results | Interest Rates | Investment Properties | Investment Tips | Investors | lakefront | landscaping | leasing | Leduc | Leduc Real Estate | lifestyle | Listing Photos | Living Here | Luxury Homes | Marketing | marketupdate | Millwoods | moving | movingtoedmonton | multipleoffers | Neighbourhood | New Team Member | Parkdale | Pet Friendly | Preperation | projects | property owners | Property Taxes | purpose built rental | relocating | REMAX | renovations | rent | rental | rental culture | riverdale | Rural Parkland County, Rural Parkland County Real Estate | sales managment | school | sebabeach | sellertips | selling | selling tips | services | Sherwood Park, Sherwood Park Real Estate | Spruce Grove, Spruce Grove Real Estate | St. Albert, St. Albert Real Estate | Stony Plain, Stony Plain Real Estate | strategy | Team | the galleria | Top 10 | ukraine | Westmount | Where to buy and why | Windermere | Winter Market | woman | womansday | Yeg | Zone 01, Edmonton Real Estate | Zone 02, Edmonton Real Estate | Zone 05, Edmonton Real Estate | Zone 06, Edmonton Real Estate | Zone 07, Edmonton Real Estate | Zone 08, Edmonton Real Estate | Zone 10, Edmonton Real Estate | Zone 12, Edmonton Real Estate | Zone 13, Edmonton Real Estate | Zone 14, Edmonton Real Estate | Zone 15, Edmonton Real Estate | Zone 16, Edmonton Real Estate | Zone 18, Edmonton Real Estate | Zone 19, Edmonton Real Estate | Zone 28, Edmonton Real Estate | Zone 29, Edmonton Real Estate | Zone 30, Edmonton Real Estate | Zone 56, Edmonton Real Estate | Zone 58, Edmonton Real Estate
Copyright 2024 by the REALTORS® Association of Edmonton. All Rights Reserved.
Data is deemed reliable but is not guaranteed accurate by the REALTORS® Association of Edmonton.
The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by CREA and identify the quality of services provided by real estate professionals who are members of CREA.