Median Market Rent definition

Median Market Rent means the median monthly rents by unit type as determined in the annual fall survey of rents for the prior calendar year published by the CMHC. If median market rents are not made available, the average market rents may be used or other rents as determined by the Region;
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Median Market Rent means the median monthly rents by unit type as determined in the annual fall survey of rents for the prior calendar year published by the CMHC. If Median Market Rents are not made available, the average market rents may be used or other rents as determined by the Region;
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Median Market Rent means the median, or midpoint, value for rent in a particular geographic area, as defined by CMHC in the annual Rental Market Survey.
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Examples of Median Market Rent in a sentence

  • Families and individuals receiving this benefit will see it increase to 75 per cent of the Median Market Rent making housing more affordable for many low-income Manitobans.

  • At Initial Occupancy the total Monthly Occupancy Costs for the Affordable Housing Units shall not exceed the lower of either one hundred percent (100%) of the Median Market Rent, or thirty percent (30%) of the monthly gross household income for the top of the 6th income decile for Peel Region renter households as reported annually by the Region.

  • At Initial Occupancy the total Monthly Occupancy Costs for the Affordable Housing Units shall not exceed the lower of either one hundred and thirty- five percent (135%) of the Median Market Rent, or thirty percent (30%) of the monthly gross household income for the top of the 6th income decile for all Peel Region households as reported annually by the Region.

  • Note: Commercial spaces or any other portion of the Project that is not Affordable Housing proposed under Mixed-Use Development models, including Housing Units at or above Median Market Rent will not be included in the calculation of the total Eligible Expenses.


More Definitions of Median Market Rent

Median Market Rent means the middle value of all monthly rents paid, inclusive of essential utilities, when placed in order of value for a designated market area and by unit type, as further set out in Appendix “D”.
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Median Market Rent or “MMR” means the rent for the specific Housing Unit type as determined by the most recent Canada Mortgage and Housing Corporation's annual Rental Market Survey (for Alberta urban communities with populations over 10,000), or Alberta's Apartment Vacancy and Rental Rate survey (for rural communities with populations between 1,000 and 10,000) for the municipality where the Project is located. If the municipality is not listed, then the MMR for the next census metropolitan area included in the survey applies;
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Median Market Rent or “MMR'' means the median monthly market rent for a rental housing unit,
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Median Market Rent means the rent for the specific Housing Unit type as determined by the most recent Canada Mortgage and Housing Corporation's annual Rental Market Survey (for Alberta urban communities with populations over 10,000), or Alberta's Apartment Vacancy and Rental Rate survey (for rural communities with populations between 1,000 and 10,000) for the municipality where the Project is located. If the municipality is not listed, then the median market rent for the next closest community included in the survey applies;
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Median Market Rent means the residential rent or payment rate in the community where the Lands are located, as determined on an annual basis by the Canada Mortgage and Housing Corporation’s annual rental market survey, or in the case of rural communities, refer to the annual Apartment Vacancy and Rental Cost survey prepared by the Government of Alberta, or equivalent;
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Median Market Rent or “MMR'' means the median monthly market rent for a rental housing unit, by unit type, as published by CMHC for the London CMA
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