Rent is on the rise in Prince George, but it’s still low compared to the provincial average.
According to the Canada Mortgage and Housing Corporation, the average rent in Prince George was $1,113 in 2023, compared to $1,018 in 2022, a nine per cent increase:
- Bachelor: $770 in 2023, $731 in 2022 (+5.3%)
- One-bedroom: $989 in 2023, $923 in 2022Â (+7.1%)
- Two-bedroom: $1,218 in 2023, $1,112 in 2022 (+9.5%)
- Three-bedroom+: $1,311 in 2023, $1,085 in 2022 (+20.8)
For comparison, the average rent in Kamloops in 2023 was $1,334.
The vacancy rate in Prince George also dropped a full percentage point to 3.0 per cent in 2023.
Williams Lake saw a drastic increase, as the average rent for two-bedroom and three-or-more-bedroom apartments nearly doubled in 2023.
In Williams Lake, the average rent for a two-bedroom went from $947 in 2022 to $1,854 in 2023, while three-or-more-bedrooms went from $1,120 to $2,100.
The average rent in British Columbia last year was $1,655, up from $1,526 in 2022 (+7.8%):
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- Bachelor: $1,358 in 2023, $1,271 in 2022 (+6.8%)
- One-bedroom: $1,558 in 2023, $1,432 in 2022 (+8.8%)
- Two-bedroom: $1,867 in 2023, $1,721 in 2022 (+8.4%)
- Three-bedroom+: $2,146 in 2023, $2,067 in 2022 (+3.8%)