The overall vacancy rate for Grande Prairie’s primary rental market is down, while rent saw a roughly $100 year-over-year uptick.
According to the latest report from the Canada Mortgage and Housing Corporation as of October 2023, Grande Prairie had an overall vacancy rate of 1.5 cent down from the 4.8 per cent recorded in the same month in 2022. Across the city, there was a 5.1 per cent vacancy rate for apartment properties with three or more bedrooms, 1.3 per cent in two-bedroom apartments and a 1.4 per cent vacancy rate for one-bedroom apartments.
As of October, the average rent in the city was $1,145 up from the $1,071 reported in the same month in 2022.
According to the CMHC across the country, the primary rental market was 1.5 per cent, a reportedly new market low.