Renters in New Brunswick got some good news on Wednesday.
The provincial government announced it will maintain its rent cap at three per cent for then 2027 calendar year.
A release from the province said the decision is in response to “ongoing affordability issues.”
“Following years of massive rental hikes, the rent cap has been a welcome stabilizing force for tenants in the rental market across the province,” Housing Minister David Hickey said in a statement.
The cap has been in place since February 2025 and is designed to limit big spikes in rent and reduce the number of tenants displaced by significant increases.
It limits rent increases to a maximum of three per cent, year-over-year, and is reviewed annually.
Hickey said the government is keeping the cap at three per cent to maintain predictability and stability for tenants, and to give the province more time to improve market conditions.
“This follows other supports we’ve introduced to help tenants, landlords and developers,” Hickey said.
The minister said that includes removing HST on multi-unit development projects and the ongoing review of the Residential Tenancies Act, expected to be completed in the fall.
