Nova Scotia: Discover Canada's Seacoast

Highlights on why Halifax

The Halifax Regional Municipality is composed of Halifax, Dartmouth, Bedford, Lower Sackville and Halifax County; together the population totals over 370,000 with a labour force of over 200,000 in 2004.
Nearly 50% of the province’s 940,000 population is within a one hour drive of downtown Halifax, making it the centre for finance, commercial industry, transportation and education for all of Atlantic Canada.
Three quarters of net migration to Metro-Halifax consists of people under the age of 24, a critical source of rental demand with over 90% of households in this age group renting their dwelling.
Employment growth for the 18 to 24 age group is 7% and, as a result, has been instrumental in mitigating declining rental demand related to very attractive home ownership conditions.
Monthly home ownership carrying costs are expected to rise 14% over 2005, which is expected to help tighten rental demand in the area, and result in a 3.5% increase in rents from $705/month to $730/month.

Dartmouth has a population of 70,000 people and is the largest of the municipalities in the Halifax region.
Dartmouth is expected to maintain continuous growth as renters and owners alike are opting to move to the area in order to escape the high prices of Metro Halifax, while still maintaining their close proximity to downtown Halifax via a 15 minute commute by two bridges: the Angus L. McDonald and the A. Murray MacKay, as well as the Halifax harbour’s saltwater ferry system.
Dartmouth North, the location of Oceanview, is the largest rental market in Dartmouth and home to the highest monthly rent for all of the Dartmouth sub-markets.
Plans are underway for a $50,000,000 five storey glass in-closed metro campus for the Nova Scotia Community College, which will bring 1,800 students to the Dartmouth waterfront in early 2007.
Dartmouth is made up of 69% renter households, and the vacancy rates in Dartmouth are currently averaging 4.3%; however, demand for rental housing in Dartmouth is expected to tighten due to increasing costs in Halifax, affordable rental options, proximity to the Halifax downtown core, an influx of renters from the new college and an erosion of favourable home ownership conditions in the Metro area.

All of the facts derived on this page were obtained from various CMHC reports, and were deemed to be correct at the time of printing.