October marked the first time in five years the vacancy rate for apartments in the City of Greater Sudbury soared above two per cent, according to a rental market survey issued by the Canada Mortgage and Housing Corporation (CMHC).
A trend of tightening markets in the city led to rental vacancy rates of 0.7 per cent in October 2008, one of the lowest in the country at the time.
However, that number jumped to 2.9 per cent in October 2009.
This follows the national trend of rising vacancy rates across Canada's 35 major centres, which rose to 2.8 per cent in October 2009 over the 2.2 per cent seen in the same period in 2008.
The highest vacancy rates were seen in Windsor, with 13 per cent; Abbotsford, with 6.1 per cent; and Peterborough, with six per cent.
Prices in the rental market remained relatively stable, edging up from $800-per month for a two-bedroom apartment in October 2008, to $830-per month in October 2009.
The highest average monthly rents for two-bedroom apartments were in Vancouver, with $1,169; Calgary, with $1,099; and Toronto, with $1,096.
Thunder Bay's rental numbers stayed relatively stable, with vacancy rates barely budging to sit at a vacancy rate of 2.3 per cent, and $742 per month for a two-bedroom apartment.
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