People looking to rent in Windsor-Essex may have had an easier time this past year.
The Canada Mortgage and Housing Corporation's Fall Rental Market report shows the purpose-built rental apartment vacancy rate increased to 3.3 per cent. That's compared to 2 per cent in 2023.
The report found vacancy rates increased particularly around post-secondary institutions because of a recent cap on international study permits.
The national vacancy rate went from 1.5 per cent in 2023 to 2.2 per cent in 2024.
"Affordability for Canadian renters remains a challenge, particularly for new tenants who faced significant rent hikes as units turned over, limiting mobility for existing tenants and making it harder for prospective tenants to enter the market,' 'said Tania Bourassa-Ochoa, CMHC's Deputy Chief Economist. "However, record growth in rental supply helped slow down average rent growth and raise vacancy rates closer to the historic average, underscoring the critical role of added supply in improving housing affordability."
Renters in Windsor-Essex are paying around 5.4 per cent more this year with the average rent of a two-bedroom apartment at $1,387.
New units are even more expensive at $2,358 for a two-bedroom.