The average rental rate of a two-bedroom apartment in Greater Sudbury was down a statistically insignificant amount in 2022, whereas the national rate jumped by 5.6 per cent
Average market rental rates remained statistically unchanged in Greater Sudbury last year, which was a significant departure from the 8.4-per-cent increase recorded in 2021.
There was a decline in student renters in the Laurentian University area last year. They typically favour smaller units, while efforts such as the Rural and Northern Immigration Pilot to attract skilled workers has increased the need for larger units, creating an “underlying mismatch.” Comparing October row/apartment rental rates in 2022 against 2021, the average bachelor unit was $796 in 2022 , one-bedroom units were $931 , two-bedroom units were $1,248 , and three-bedroom units were $1,359 .
Homeowner-destined construction starts in 2022 totalled 256 , which was a slight decrease from the 288 recorded in 2021.
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