The average price for a two-bedroom apartment in Prince George is $1,112.
That’s according to the latest data from the Canada Mortgage Housing Corporation.
In 2021, the rental price was slightly lower at $1017.
The current apartment vacancy rate in PG is 4.0% – up from the year prior when it was 2.2.
By comparison, vacancy rates for rental units in Canada dropped to one-point-nine percent – it’s lowest level since 2001
Nationally, the average price for a two-bedroom apartment is a bit higher at $1258.
The CMHC issued its 2023 Rental Report today (Thursday) and PG performed quite well on the national stage.
The northern capital came in as a much more affordable place to rent a two-bedroom than
- Vancouver ($2002)
- Victoria ($1699)
- Calgary ($1466)
- Edmonton ($1304)
- Saskatoon ($1243)
- Winnipeg ($1350)
- Hamilton ($1438)
- Sudbury ($1254)
- Kitchener-Cambridge-Waterloo ($1469)
- Bellville ($1294)
- Peterborough ($1339)
- St Catherines ($1260)
- London ($1393)
- Kingston ($1471)
- Toronto ($1765)
- Ottawa ($1625)
- Gatineau ($1269)
- Halifax ($1449)
PG is in the same ballpark as Regina ($1186) and Windsor ($1197) for two-bedroom apartment rent.
Surprisingly, Quebec City ($947) and Montreal ($1022) were cheaper than our city in this category.
As for the number of private apartment units by category in PG, it’s broken down like this:
- Bachelor – 241 Units
- 1 Bedroom – 927 Units
- 2 Bedroom – 1,458 Units
- 3+ Bedroom – 488 Units
Prince George currently has 313 apartment units under construction – over a third of them are located downtown (113 units).
A link to the 2023 rental report can be found here.
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