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Demand grows for apartment rentals in Windsor, but vacancy rate still highest in Canada

December 16, 2009

WINDSOR, Ont. -- Windsor's apartment vacancy rate, while lower than a year ago, is still the highest in the country and is more than double that of its closest rival, according to the Canada Mortgage and Housing Corporation.

The local vacancy rate in October was 13 per cent, compared to 14.6 per cent a year ago.

"Record enrolment of post-secondary students, the stabilization of the local economy and rising prices in the resale market in the second half of the year have contributed to an increase in rental demand in the Windsor market this year," said Margot Stevenson, a market analyst for the CMHC.

By comparison, the next highest rate was recorded in Abbotsford at 6.1 per cent. The third-highest rate in Canada was recorded in Peterborough at six per cent.

Across Ontario, the average is 3.5 per cent and the national average is 2.8 per cent.

Not surprisingly, given the availability of apartments across the area, Windsor's rental rates remain among the most affordable in Canada...

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