Overall vacancy rate in Thompson approached double digits in last fall’s rental market survey

The overall vacancy rate for apartments and townhouses in Thompson October 2018 was 9.2 per cent, the Canada Mortgage and Housing Corporation (CMHC) reported last fall, but for some types of rental units it was as high as 18 per cent.

Two-bedroom apartments had the lowest vacancy rate at 7.4 per cent, while 8.2 per cent of one-bedroom apartments were unoccupied. Rental units with three or more bedrooms, in row or townhouse complexes, had a vacancy rate of about 18 per cent.

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The survey was based on 1.928 rental unites, including 844 two-bedroom apartments, 719 one-bedroom apartments, 317 rental units with three or more bedrooms and 48 bachelor suites.

The average monthly rental cost of a bachelor suite was $738, while one-bedroom apartment had an average monthly rent of $825. Average rent for a two-bedroom apartment was $936 and rental units with three or more bedrooms cost an average of $1,111 per month. The overall average rent for an apartment in Thompson was $922.

Rents for a given size of apartment can vary considerably, however. The first quartile (midway between the lowest number in a group of numbers and the median, or midway point) average for all apartment rents was $769 per month, ranging from $576 for a bachelor suite to $954 for a three-plus bedroom suite. The median price of apartments was $750 for a bachelor suite, $850 for a one-bedroom, $961 for a two-bedroom and $1,066 for three-plus bedroom suites. The third quartile (the midway point between the median and the highest number in a group of numbers) ranged from $850 for a bachelor suite to $1,200 for a three-plus bedroom suite.

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