PEI’s vacancy rate increases, but is still tied for lowest in Canada

Numbers from the Canada Mortgage and Housing Corporation show the vacancy rate for apartments for all of PEI was up slightly last year.
A higher rate means it’s somewhat less difficult to find a home to rent for some parts of the Island.
The rate rose from 0.8 per cent in 2022 to 1.1 per cent, based on an annual survey done in October.
But although it went up, that 1.1 per cent vacancy rate is tied with Nova Scotia for the lowest in the country.
Nationally, the vacancy rate was 1.5 per cent.  Also of note is that the vacancy rate in Charlottetown went down from 0.8 per cent in 2022 to 0.5 per cent is 2023.