October 2014 Rental Market in Windsor

LONDON, ONTARIO--(Marketwired - Dec. 16, 2014) - The rental apartment vacancy rate^[1] in the Windsor Census Metropolitan Area (CMA) was 4.3 per cent in October 2014, down from 5.9 per cent in October 2013, according to the Fall Rental Market Report released today by Canada Mortgage and Housing Corporation.

"The vacancy rate was lower as rental demand increased, while the number of units in the rental universe was relatively unchanged. Greater rental demand came from higher post-secondary enrolment and a stronger employment situation, which encouraged some young adults to move out into rental. Although not as significant as last year, international migration also added to the movement into rental," said Margot Stevenson, CMHC's Market Analyst for Windsor.

On the basis of a sample of structures common to both the 2013 and 2014 surveys^[2], the average two- bedroom apartment rent increased by 1.9 per cent.

Rental Market data is also available in English and French at the following link: CMA Rental Market Report

As Canada's authority on housing, CMHC contributes to the stability of the housing market and financial system, provides support for Canadians in housing need, and offers objective housing research and advice to Canadian governments, consumers and the housing industry.

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^[1]The survey is based on privately-initiated rental apartment structures of three or more units.

^[2]Year-over-year comparisons of average rents can be slightly misleading because rents in newly built structures tend to be higher than in existing buildings. Excluding new structures and focusing on structures existing in both the October 2013 and October 2014 surveys provides a better indication of actual rent increases paid by tenants.

Additional data is available upon request.

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A table is available at the following address: http://media3.marketwire.com/docs/984180e.pdf