Average rent in Windsor-Essex jumps to $772, up 3.2% in the past year
Windsor-Essex rentals hard to find, costing more
The vacancy rate in Windsor-Essex remained steady at 2.4 per cent this year, but the average cost of rent in the area rose to $772.
The annual rental market report from the Canada Mortgage and Housing Corporation shows a 3.2 per cent increase in the average rent in October, compared to $753 during the same period last year.
"Rental market conditions were unchanged owing to strong but stable rental demand and slight growth in supply," stated CMHC market analyst Amran Wali.
Here's a snapshot of current rental conditions in the region by bedroom type according to CMHC:
| Bachelor | 3.3% vacancy rate | $557 average rent |
| One bedroom | 2.4% vacancy rate | $720 average rent |
| Two bedroom | 2.0% vacancy rate | $868 average rent |
| Three or more bedrooms | 4.9% vacancy rate | $1,035 average rent |
Rates in Windsor-Essex were lower than the monthly average for a two-bedroom apartment in Canada, which saw a 2.7 per cent rise and came in at $989.
Rental rates in and around the Toronto area increased by even higher percentages with Belleville's rate increasing by 5.9 per cent, Oshawa by 5.2 per cent and Hamilton by 5.1 per cent.
with files from CBC Business