Rental apartment vacancy rate is up in the North Bay area

There are more apartments in the North Bay area this fall, compared to 2014 and the vacancy rate is up too.  

Twice a year, Canada Mortgage and Housing releases their Rental Market Report and the Fall edition shows there are 30 more apartment units in the North Bay area, compared to last year.

The total is now 3,061.

Meantime, the vacancy rate has nearly doubled from last fall.

It was 4.9 percent in October, compared to 2.6 percent in October 2014.

The cost of rent is also up, from a $20 increase on a bachelor apartment to $36 increase for a one-bedroom apartment.