By Nigel Maxwell

Rent jumps in Prince Albert

Jun 9, 2011 | 11:48 AM

It is costing you a bit more to rent an apartment in Prince Albert.

According to the Canada Mortgage and Housing Corporation, the average rent in the city for April was $729. That is an increase of $14 from the same time last year.

“Bachelor units recorded a slight decrease in prices. For the most part, we noted the significant increase was among two bedrooms,” said Michael Fabiyi, senior market analyst.

The cost to rent a two bedroom apartment in Prince Albert in April was $763. That compares to $737 dollars in April, 2010.

“Considering the pace of activity we have seen in Prince Albert and the pace in terms of the natural resource sector, we are chugging along quite nicely,” said Fabiyi.

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In comparison, the average rent in Saskatoon for April was $855. In Estevan, people were paying $900 on average.

Prince Albert's overall vacancy rate has dropped. It was 4.7 per cent in April of last year –it’s a 2.7 per cent drop.

nmaxwell@panow.com