Prince Albert averages out in rental housing

The Canada Mortgage and Housing Corporation (CMHC) has released its annual rental market report and Prince Albert appears to remain about the same.

Although rental markets in other cities seems to be in flux between 2013-14, the CMHC reports Prince Albert has kept both pricing and vacancy have only increased a slight amount from 6.5 per cent to seven per cent.

Rental prices in Prince Albert are staying at around the $800 mark for a standard two-bedroom apartment and the vacancy rate has remained around seven per cent.

Looking at Saskatoon while princes have slightly risen from about $1,000 to $1,100 vacancy rates in the Bridge City have actually dropped from 3.5 per cent to three per cent.

Moose Jaw’s rental rates are around the same as Prince Albert at $800 for the average two-bedroom home however the up and coming city has dropped vacancy rates from three per cent to 2.5 per cent which is about five per cent lower than Prince Albert.

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According to the CMHC data the biggest jump in vacancy rates is North Battleford which has gone from 4.5 per cent to eight per cent vacancy however their rent prices have remained on average about $800 for a standard two-bedroom apartment.

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