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The current rental housing market in the City of Owen Sound shows a healthy number of apartments available for rent.

While vacancy rates were extremely low in the mid-1980s, rates have risen through the 1990s. Units in small buildings (such as conversions) and bachelors have the highest vacancy rates currently.

Affordable homeownership has created an oversupply of apartments of all sizes and pushed rents down slightly.

Statistical Information:

The vacancy rates for Owen Sound's 1,845 private apartments in buildings with three or more units are compared below to those for Ontario as a whole.

From the Canada Mortgage and Housing Corporation Rental Market Report, November 2002.

Average Apartment Rates ($) & Vacancy Rates

Rental Rates

2004

2005

2006

Vacancy Rates

2004

2005

2006

Bachelor

$443

$445

$437

Bachelor

1.9%

0.8%

2.2%

1 Bedroom

$578

$581

$601

1 Bedroom

1.7%

1.1%

1.2%

2 Bedroom

$703

$692

$735

2 Bedroom

1.1%

1.1%

1.5%

3+ Bedroom

$708

$716

$737

3+ Bedroom

0.4%

2.1%

3.5%

Total

$640

$640

$674

Total

1.1%

1.2%

1.7%

Source:  CMHC October 2004, 2005, 2006 Rental Market Survey: Owen Sound Census Area

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