The Regina rental market continues to be a strong residential real estate investment. According to the Canadian Real Estate Association’s latest report, the average rent for a 2-bedroom apartment in Regina was slightly up at $1,102 in February of 2022, a 4.3% increase from the previous year.
The average rent for a 1-bedroom apartment in Regina was also up 7.9% year-over-year at $955, while the average rent for a 3-bedroom apartment saw the biggest increase at an 11.9% increase to $1,267 a month.
The rental market in Regina remains tight with falling vacancy rates. Vacancy rates were at just 0.9%, which is down from 1.6% in the previous year. This low vacancy rate, in combination with increasing rental costs, is making it difficult for tenants to find an affordable place to live.
The provincial government has taken steps to alleviate some of the pressure on renters, including introducing rent controls in 2021 and increasing the amount of rental assistance available.
Overall, the rental market in Regina continues to be a strong real estate investment. Despite increased demand, rising rental costs and low vacancy rates, Regina remains an attractive investment option for investors.
