The Canada Mortgage and Housing Corp. has confirmed several types of difficulties for finding a rented residence in Kingston. Buying rental in the city is impossible. According to the CHHC, in the second year of the Kimston vacancy, the lowest rate in Ontario is 0.6%.
With a decrease in the mortgage condition in 2017, Kingston's vacancies decreased from 0.7 per cent to 0.6 per cent. Demand for rentals is increasing. The CMH report says that the retirement rate for the third consecutive year has reached the lowest level since 1989.
CMHCC says Kingston is a relatively strong rental market. Compared to Ontario's 2.4 percent, its 10 year average vacancies stand at 1.6 percent. For the second consecutive year, 16 low metropolitan areas in Kingston and Ontario have the lowest posts. To be precise, the CMHC says that by 2018 the number of Wagon Units has to be increased by about three times, which will recover from 10 years to 1.6 per cent.
CMHC pointed out that average resident population grew by 2.7 per cent to $ 1181 per month in the last year's Kingston. One vacancy rate for Bachelor Apartments is 1.2 per cent and an average rental of $ 745. One bed had 0.5% of the houses and an average of $ 1,800 was rented. In two rooms a vacant rent was 0.6 per cent and an average of $ 1200. The units with three or more bedrooms were just 0.1 per cent and an average rental of $ 1,998.
The least number of vacancies have been registered in the Northern Kingstown (Raidau Heights, Grenville, Kinsey Court, Stratcarna Park) in all the districts of the city, according to CMHC. Vacancies in this district fell for the third consecutive year. This is the lowest level of 0.4 per cent. In the last three years alone, only 17 new units and 7% were in the sector.