(Photo/Pixabay)
The Quinte region is leading the pack in Ontario when it comes rent increases for two bedroom apartments.
A report by the Canada Mortgage and Housing Corporation(CMHC) shows that from October of 2016 to October of 2017, the rent for the average two bedroom apartment increased by 5.9% in our region.
In October of last year, the average rent for a two bedroom unit in the Quinte area was $1,005 a month.
Two bedroom apartments are the most sought after type of rental units.
Only three cities, all in British Columbia, had higher percentage increases, with Kelowna topping the list at 8.6%.
Meanwhile, the local vacancy rate for two bedroom apartments declined to 2.1% in October of last year, from 3.3% in 2016.
In Ontario, the vacancy rate last October was 1.6%.
