![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgV-6mwW4yj2uUiUAFYjd_i7zFsNucsarkcZHkmrAtphk3sBNyYJUgLhzTZOHtLOcFU2G-7UIcOxeS2S3JzEnIeQc3MwP-hypr4nKm7KaiuBK3aqsuvIWFerURYnRicxZ8NtxCcjQ/s400/CMHC.jpg)
Edmonton's vacancy rates will drop to an unbelievable 0.7% and are expected to fall even lower to 0.5% in 2008.
"Strong demand from newcomers and a shortage of new units entering the market will reduce vacancy rates to 0.5 per cent in 2008" Canada Mortgage and Housing Corporation
Low vacancy rates means a tighter rental market and rents will have to increase accordingly.
"The average rent for a two-bedroom unit will increase from $808 per month in October, 2006, to $970 in October, 2007," CMHC predicted. "Further gains will push the average two-bedroom rent to $1,115 in October, 2008."