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About Urban Analytics

Urban Analytics is a Vancouver-based multifamily and urban data and analytics company.On April 7th, 2021, Urban Analytics was acquired by Zonda. The terms of the transaction were not disclosed.

Urban Analytics Headquarter Location

2323 Quebec St S. 210

Vancouver, British Columbia, V5T 4S7,



Latest Urban Analytics News

New rental market buoyed by growing demand from students, young professionals

Oct 22, 2021

Article content “The younger crowds are now moving downtown again with things opening up,” says Kendall Brown, manager of rental data at Zonda Urban (formerly Urban Analytics), which recently published its third quarter new rental report for the city. We apologize, but this video has failed to load. Try refreshing your browser, or New rental market buoyed by growing demand from students, young professionals Back to video It shows five new projects launched from June to the end of August, adding 511 new units to the market. Among them is CX Grandin west of the Legislature, which launched in the summer, with “dorm-style” apartments, she says. Despite the addition of new stock in the city, occupancy also increased from 89 per cent to 91 per cent from the second to the third quarter. The rise in depend also led to rents increasing from $1.66 to $1.70 per square foot. Despite rising demand in downtown, it remains the most supplied sub-market among new projects in the city. Advertisement Article content “Right now, in the downtown, compared with other sub-markets, there are currently 13 of 36 buildings that are actively leasing,” she says, referring to new projects that have less than 85 per cent occupancy. By comparison, the southwest sub-sector — also a development hotbed — has 37 new projects with only two actively leasing. Besides COVID-19 deterring some renters away from the city centre, Brown adds many of the new projects downtown are large high-rises as opposed to low-rise builds more common outside the city centre. “They’re quite big projects, so for example, 121 West Apartments just launched this past quarter and they have almost 400 units, which take a little bit of time to lease up,” she says. “They are just bigger buildings with also higher rents than outer sub-markets.” Advertisement Article content For example, average rents downtown are about $2.12 per square foot compared with other sub-markets around $1.60 on average per square foot. Given growing demand for rental, investors in condominium properties may also see upside in the long-slumping condominium market, says Tom Shearer, broker/owner of Royal LePage Noralta Real Estate. “Let’s say it’s a university student coming to Edmonton to go to school for four years; well, it could be a really solid investment buying a condo here for that time,” he says, pointing to the condominium market’s affordability as noted in a recent Royal LePage report. It found the median price of a condo in the city was about $200,000 in the second quarter. Rent or buy, Shearer says the city’s housing market is likely to get tighter, especially downtown, as the pandemic’s impact should lessen considerably and migration returns amid solidifying oil and gas prices in the coming several months. “Students are coming back now, but when nightlife and the energy of being in the core comes back to our city, there will be a lot of ‘I wish I got in earlier,’ ” he says. Brown sees a similar situation for the new rental market. “Now is a good time to look because rents are likely only to increase for the rest of the year and into next year, as well,” she says. Share this article in your social network Share this Story: New rental market buoyed by growing demand from students, young professionals

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