Vacancy rates for two-bedroom apartments in Fort McMurray have soared to 13.2 per cent – highest in Alberta - according to Canada Mortgage and Housing Corp.(CMHC). But Fort Mac, in the Regional Municipality of Wood Buffalo, remains the most expensive place in the province for rental apartment dwellers. A two-bedroom in the oilpatch city rents for an average of $2,031 per month, down about 5.6 per cent from a year ago.
The neighbouring oil sands community of Cold Lake now has the second highest two-bedroom rent in the province – $1,175. It was up 3.6 per cent over last year. Cold Lake’s vacancy rate is “zero” according to CMHC.
The percentage increase was higher in Grande Prairie (11.5 per cent), with a two-bedroom apartment in that community bumping to $966 from $866.
Rents were up in both Calgary and Edmonton, though the increase was considerably higher in Calgary – about 7 per cent – to take the Calgary price to $1,113 per month. Edmonton rang in at $1,036 per month.
The southern Alberta cities of Lethbridge and Medicine Hat were less expensive for apartment dwellers, posting average two-bedroom rents of $862 and $694 respectively. Neither city's rents moved much from a year ago.
Okotoks posted a vacancy rate of zero in April, and an average two-bedroom rent of $956, according to CMHC.
