Parts of the Cariboo saw average rent go up greatly when comparing to years prior.
According to Canada Mortgage and Housing Corporation, Williams Lake’s average rent for a 2-bedroom apartment was $947 in 2022, however 2023 brought a 95 percent increase bringing average rent to $1,854.
Quesnel also saw an increase, though not as drastic, going from $831 to $1,150 in 2023, which is a 38 percent increase.
When it comes to vacancy rates, Williams Lake saw drop from 0.9 percent in 2023, to 4.4 percent in 2022.
Quesnel’s vacancy rate saw the opposite, going from 1.3 percent to 2.3 percent.
Canada as a whole set a record low 1.5 percent vacancy rate, with record high average rent growth of 8 percent in 2023.
The Canada Mortgage and Housing Corporation’s 2024 rental market report can be found on their website here.