According to a recent survey from Padmapper, Prince George didn’t crack the top 25 when it came to renting prices for apartments.
The study was mostly focused on major cities like Vancouver, Montreal, and Toronto but did say the average rent price for a one bedroom is around $825 dollars.
However, Bob Quinlan with Doucette Realty believes that price is a little higher.
“What we’re finding is that the overall vacancy rate according to the Chamber of Commerce is 3.7%. Depending on the area and features and such, we’re looking at about $900 to a thousand dollars for a one bedroom apartment and for a two-bedroom we’re probably looking at anywhere from $1100-$1500.”
Quinlan adds they are getting quite a cross-section of people who are looking to rent instead of buying a property.
“Not only people who can’t afford to get in because of the mortgages due to the stress rules or we are just going to see people who are deciding that they are not going to buy right now, we’re getting quite the cross-section but what’s coming into that demographic a lot more is the seniors.”
He adds the population is aging within the real estate sector and a lot of older people are downsizing and are looking at the possibility of renting than buying.
The price of rent in Vancouver is just north of $2,100.
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