Yardi’s Q2 rental data
Hamilton and Kitchener-Waterloo are next-door markets moving in opposite directions. Yardi’s Q2 data has KW new-lease rents down 4.5%, the weakest in Canada, while Hamilton’s are up 1.3%.
Hamilton’s overall vacancy is 5.2%, above the national average. But bachelor vacancy is 14% while two-bedrooms sit at 3.7% with new leases up 2.2%.
The headline vacancy number hides the story. Unit mix is the underwriting.
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Source: Yardi Canadian National Multifamily Report, Q3 2026 (data as of Q2 2026), Paul Fiorilla