Vacancy Rate And Rents Up In Prince George

By 250 News

Prince George, B.C. -  When it comes to  rentals and vacancy rates,   Prince George is about  in the middle of the pack.  That's according to the latest release from Canada Mortgage and Housing.

The vacancy rate in  Prince George in October of this year was 3.9 % that's up from the same time  a year ago, when the rate was  1.9%.  CMHC also says renters are paying about 5.1% more this year in Prince George.

The stats indicate the  community outside the Greater Vancouver area with the  highest vacancy rate is  Kitimat at  13.8%   which is down from the previous year when the rate was  21.%  The biggest surprise is that right behind Kitimat is Fort St.John where the vacancy rate  has jumped from the 3.9% mark of october 2007 to 9.1% in October  of this year.

Provincially, the BC apartment vacancy rate was 1.0 per cent, unchanged from 2007. The average rent for a two-bedroom apartment increased 5.3 per cent compared to a year ago, about double the general rate of inflation.

Here is a look at the numbers  as they stack up in communities outside the lGVA:

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