2022 residential rent index increase rises to 3.3 per cent

The Government of Yukon temporarily indexed residential rent increases in 2021 to the Consumer Price Index (CPI) for Whitehorse. The index limits rental increases to the rate of change in the CPI for the previous year. The Yukon Bureau of Statistics has determined the CPI for Whitehorse has increased from 1 per cent for 2021–22 to 3.3 per cent for the year beginning May 15, 2022.

Indexing residential rent increases to the CPI is one of the initiatives the Government of Yukon is taking to support the housing needs of Yukoners. The Government of Yukon continues to take a multi-faceted approach to increase housing options for Yukoners throughout the territory. These include launching the Canada-Yukon Housing Benefit, which provides financial support directly to renters in need, as well as initiatives designed to make more housing available in the territory, such as the development of new residential lots.

An essential component of the Yukon’s economic prosperity is ensuring that tenants can access affordable housing and that landlords can continue to contribute to the rental market. The intent of this temporary residential index is to allow renters to better plan for the future, knowing their rent will not be increasing dramatically each year. It is one of a number of approaches that is underway to address the need for affordable housing in the Yukon.

The Government of Yukon will continue to work with both tenants and landlords to evaluate this initiative and look at further options to ensure Yukoners have access to housing they can afford.

The residential rent index is an element of the Confidence and Supply Agreement.