Jeffrey Carpenter was prepared to leave Banff.

He lived in the Alberta mountain town for 11 years, but a lack of housing and high demand led to soaring rental rates.

Carpenter said he began looking for new housing last January with the hope of finding something by June.

“I simply couldn’t continue to live in my last apartment with how much the rent was. I knew it was going to take six months,” he said of the search.

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He eventually found a spot, but not everyone in Banff is so lucky.

The town has has an estimated housing shortfall of 700-1,000 units. Put that in the context of Banff's existing housing stock of about 4,500, and it means a drastic increase is

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