Rental Properties
The current rental housing market in the City of Owen Sound shows a healthy
number of apartments available for rent.
While vacancy rates were extremely low in the mid-1980s, rates have risen
through the 1990s. Units in small buildings (such as conversions) and
bachelors have the highest vacancy rates currently.
Affordable homeownership has created an oversupply of apartments of all
sizes and pushed rents down slightly.
Statistical Information:
The vacancy rates for Owen Sound's 1,845 private apartments in buildings
with three or more units are compared below to those for Ontario as a
whole.
From the Canada Mortgage and Housing Corporation Rental Market Report,
November 2002.
Rental Rates |
2004 |
2005 |
2006 |
Vacancy Rates |
2004 |
2005 |
2006 |
Bachelor |
$443 |
$445 |
$437 |
Bachelor |
1.9% |
0.8% |
2.2% |
1 Bedroom |
$578 |
$581 |
$601 |
1 Bedroom |
1.7% |
1.1% |
1.2% |
2 Bedroom |
$703 |
$692 |
$735 |
2 Bedroom |
1.1% |
1.1% |
1.5% |
3+ Bedroom |
$708 |
$716 |
$737 |
3+ Bedroom |
0.4% |
2.1% |
3.5% |
Total |
$640 |
$640 |
$674 |
Total |
1.1% |
1.2% |
1.7% |
Source: CMHC October 2004, 2005, 2006 Rental Market Survey: Owen Sound Census Area
Related Information
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