New Brunswick rental rates grew faster than the national average last year but still remain among the lowest in Canada.
That is according to the latest Rental Market Survey released by the Canada Mortgage and Housing Corporation this week.
The average price of a two-bedroom apartment in New Brunswick climbed to $892 in Oct. 2019, an increase of $50 or 5.9 per cent.
Greater Moncton saw the largest increase in the province at just over nine per cent. The average price now stands at $949, up from $870 in 2019.
The average price in the Fredericton area climbed by 3.3 per cent — from $948 to $979. In Greater Saint John, the average price climbed to $825 from $797, an increase of 3.5 per cent.
From a national perspective, the average price for a two-bedroom apartment increased by 3.6 per cent to $1,165.
Vacancy Rates Climb In N.B., Nationally
New Brunswick’s apartment vacancy rate climbed to 3.1 per cent in 2020, up from 2.6 per cent the year before.
Vacancy rates in the province range from a high as seven per cent in the Edmundston area to as low as 2.5 per cent in the Fredericton area
Greater Moncton’s vacancy rate climbed to 2.8 per cent from 2.2 per cent the year before.
In Saint John, the vacancy rate fell to 3.1 per cent from 3.3 per cent in 2019.
At the national level, vacancy rates climbed to 3.2 per cent in 2020, up from two per cent the year before.
Follow
