By Rosalind Russell – If you are looking for a place to rent or even to buy, it is not easy in the North Shore corridor.
Canada Mortgage and Housing says rental housing supply is ‘vastly insufficient’ across the country, making it very difficult for renters to find housing they can afford.
While the national vacancy rate is at a new low – 1.5 percent – the availability of apartments or home in the local area is almost at zero, especially in Espanola and the surrounding communities.
Rent is also up averaging $1,000 and higher for a one-bedroom apartment, if one can be even found.
Manitoulin-Sudbury DSAB has well over 300 families or individuals looking for housing in the local area
There is a silver lining though … the tight housing market has led to several building starts with several new apartments and home being constructed in Espanola, well over 80, in 2024.
There is little if any vacancies available in the Espanola area. New builds starting this year is expected to somewhat alleviate the housing shortage for renters. Photo – unsplash.