Nova Scotia's rental market is in crisis. With mid-market rents climbing over $1,500 in Halifax and rising quickly across the province, incomes barely keeping pace, and near-zero vacancy for units under $1,300, we're facing unprecedented pressure on the 'missing middle' of housing.
These metrics forced us to examine Homebuilder's Business Model and we conclude that the Current Approach Doesn't Work for Rental Housing Construction, It's too slow, too expensive, and too disconnected.
35%+
Cost-burdened renters in Nova Scotia
Source: CMHC
0.7%
Vacancy rate for affordable units
CMHC 2022
12%
Annual rent increase
NS rental market 2023
The below statistics reveal the core problem: while Nova Scotia has plenty of expensive new rentals and a handful of subsidized units, the middle market is critically underserved. This is exactly where Helio focuses—creating mid-market rentals that don't require the high rents of luxury buildings or government subsidies.