The national apartment market is getting more competitive as the vacancy rate lowers and rented apartments are getting harder to find. The falling vacancy rate is attributed in part to immigration and the stable rate of rental apartment completions while demand rises. The lowest vacancy rates were in Winnipeg and Regina at 0.7%, Quebec City at 1%, Toronto at 1.6%, and Kingston at 1.7%
If you find yourself in a bind looking for an apartment, your best bets are in Windsor, Kelowna/ Abbotsford, and Charlottetown who currently have the highest vacancy rates at 9.4%, 6.6%, and 4.9% respectively.
Concurrently, the average monthly rent crept up $14 in the past year. The highest rent rates belonged in Vancouver, Toronto, Ottawa-Gatineau, Calgary, Edmonton, and Victoria at $1181, $1124, $1056, $1040, $1029, and $1024 respectively. Vancouver rates pushed as high...Read More
