New Brunswick renting guide

Funding to build or convert rental housing in New Brunswick

If you are building, converting, or substantially adding rental housing in New Brunswick, two government programs can help with the cost: a forgivable loan through the Affordable Rental Housing Program, and a rebate of the provincial HST on eligible purpose-built rental. These are for creating rental housing, not for everyday renting.

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What funding is there to build or convert rental housing in New Brunswick?

For tenants

These programs are for landlords and builders who create new rental housing, so they are not something you apply for as a tenant. They matter to you indirectly: the Affordable Rental Housing Program requires the homes it funds to stay affordable, setting qualifying tenants' rent at 30% of their adjusted household income, the same way a rent supplement works.

For landlords

Two programs help with the cost of creating rental housing, both worth a look if you are building or converting rather than just renting out a place you already have. The Affordable Rental Housing Program, run by Housing NB, gives forgivable loans to private entrepreneurs, non-profits, and co-operatives for the construction, repair, or conversion of rental projects. The forgivable loan is per unit and depends on unit size and applicant: for a private entrepreneur it is $60,000 for a bachelor, $66,000 for a one-bedroom, $72,000 for a two-bedroom, and $77,000 for a three-bedroom, with higher amounts for non-profits; in exchange, qualifying tenants' rent is set at 30% of their adjusted household income. Separately, New Brunswick rebates 100% of its 10% portion of the HST on eligible purpose-built rental, administered through the Canada Revenue Agency. That rebate is aimed at larger projects: a property generally needs at least four self-contained units (or 10 private rooms or suites) and 90% long-term rental use, and it excludes single homes, duplexes, triplexes, condos, and renovations of existing housing. It applies to construction started between November 15, 2024 and December 31, 2027 and substantially completed by December 31, 2029. For the full rules and to apply, contact Housing NB at 1-833-733-7835 for the loan program, and the Canada Revenue Agency for the HST rebate.

The key facts

Affordable Rental Housing Program: Forgivable loan per unit ($60,000-$77,000 for a private entrepreneur), via Housing NB
In exchange: Qualifying tenants' rent set at 30% of adjusted household income
HST rebate: 100% of NB's 10% HST portion on eligible purpose-built rental
HST rebate scope: 4+ self-contained units (or 10 rooms); excludes duplex, triplex, single homes, renovations
HST rebate timing: Construction Nov 15, 2024 to Dec 31, 2027; complete by Dec 31, 2029 (via CRA)

Common questions

I have one unit to rent out. Do these apply to me?

Usually not directly. The HST rebate is for purpose-built rental of at least four units and excludes duplexes, triplexes, single homes, and renovations. The Affordable Rental Housing Program is for building, repairing, or converting rental projects, so it fits if you are creating housing rather than renting out a place you already have.

How much is the Affordable Rental Housing forgivable loan?

It is per unit and depends on size and applicant. For a private entrepreneur it ranges from $60,000 for a bachelor to $77,000 for a three-bedroom, with higher amounts for non-profits, in exchange for keeping the rents affordable. Contact Housing NB at 1-833-733-7835.

Who administers the HST rebate?

The Canada Revenue Agency administers it, similar to the federal rebate. New Brunswick rebates 100% of its 10% portion of the HST on eligible new purpose-built rental housing.