Vacancy rate ristes to 3.1% while Rents Increase 1.3%

(Source: The Record)

The Vacancy Rate for Rental Housing in the Kitchener Census Metro Area stood at 3.1 per cent in April, up from 2.9 per cent a year ago and below the Provincial Average of 3.4 per cent, says Canada Mortgage and Housing Corporation.

Average Rents in the region rose 1.3 per cent in price over the past year, compared to 1.8 per cent for the year before.

A two-bedroom apartment cost $858 per month, an increase of $5 from April 2009 and below the provincial average of $978, the agency said.