Edmonton's rental market, per CMHC's latest data
CMHC re-surveys the rental market each October, with results published that December. As of the most recent survey:
| Metric | Edmonton |
|---|---|
| Purpose-built apartment vacancy rate | 3.8% |
| Average 2-bedroom turnover rent | ~$1,600/month |
This citywide figure is a starting reference point, not a substitute for local comps — rent varies block to block in a way no citywide dataset can responsibly auto-fill. Use it to sanity-check an assumption, not to set one.
Why Edmonton specifically suits MLI Select underwriting
Edmonton's price-per-unit for multi-unit rental property tends to run meaningfully below Canada's largest markets. That matters for MLI Select specifically because the program's biggest benefits — up to 95% LTV and 50-year amortization at the top tier — have the most impact on deals where the cap rate is reasonably healthy relative to the cost of debt. A market with lower price-per-unit and stable vacancy gives more deals a real shot at clearing CMHC's 1.10× DSCR minimum even at higher leverage.
What to verify before underwriting an Edmonton deal
- Local rent comps for the specific submarket and unit type, not just the citywide average.
- CMHC's Median Market Rent (MMR) for the area, since Affordability points are scored against this specific figure.
- Current premium quotes from a CMHC-approved lender, given the July 2025 pricing overhaul.
- Property-specific vacancy history, especially for older buildings where actual vacancy may differ from the citywide average.
Check your own deal's MLI Select tier in under a minute. CapShark scores your points, tests your DSCR against the 1.10× minimum, and previews forward cash flow. The full 30-year lender package is paid.
Analyze an Edmonton MLI Select Deal