As the tradition of moving on July 1 approaches, Montreal’s vacancy rate sits at over three per cent for the first time in almost 20 years.

In spite of that, some families are still having a hard time finding a new home in their price range.

According to some experts, the reason rents haven’t come down is simple: condos.

“There’s lots of people buying condos to rent out, there’s lots of people (trying to sell) condos and the market is softer so they’re not selling,” said Bill Palmer, a realtor with Groupe Sutton. “They’re also putting them on the market to rent.”

The implications are especially difficult for low-income families, according to Montreal Municipal Housing Agency Director Patricia Bouchard.

“Even if the vacancy rate is high, it is not easier for low income households,” she said. “Because rents are still too high and when it’s affordable it’s sometimes in bad condition.”

Despite the relatively high rates, Montreal rents are still among the lowest in Canada. Last year, the average rent in the city was $740, roughly $500 less than Edmonton, Calgary, Vancouver and Toronto.