Sudbury's Vital Signs Report 2007
Housing
The cost of housing has been rising in Greater Sudbury over the past several years. The rental vacancy rate continues to be very low. (Table 6)
Table 6. Northern Ontarioapartment vacancy rates. Privately initiated apartments in structures
containing 3+ units
| 2005 | 2004 | 2003 | 2002 | 2001 | 2000 | 1999 | |
|---|---|---|---|---|---|---|---|
| Greater Sudbury CMA | 1.6 | 2.6 | 3.6 | 5.1 | 5.7 | 7.7 | 11.1 |
| Thunder Bay CMA | 4.6 | 5.0 | 3.3 | 4.7 | 5.8 | 5.8 | 7.5 |
| North BayCA | 2.7 | 3.7 | 3.3 | 3.3 | 2.7 | 5.5 | 5.1 |
| Sault Ste. Marie CA | 3.3 | 5.8 | 8.1 | 11.1 | 10.9 | 11.8 | 11.2 |
| HaileyburyCA | 5.2 | 4.9 | 10.7 | 13.7 | 18.6 | 13.4 | 21.1 |
| Elliot LakeCA | 5.6 | 6.3 | 6.1 | 11.9 | 14.8 | 13.2 | 11.0 |
| KenoraCA | 2.9 | 7.3 | 7.1 | 8.6 | 10.8 | 11.5 | 13.4 |
| TimminsCA | 4.0 | 8.8 | 9.2 | 10.8 | 8.1 | 13.6 | 13.0 |
| West NipissingCA | 3.6 | 2.7 | 2.2 | n/a | n/a | n/a | n/a |
Source: Canada Heritage and Housing Corporation, Updated December 2005
- Overall rental vacancy rates in Sudbury have been dropping steadily from 11.1% in 1999 to 1.6% in 2005. 38 In 2006, the vacancy rate for a 2-bedroom apartment was 0.8%, for a
- 1-bedroom 1.5% and for a 3-bedroom 1.1%. 52
- From 2000 to 2004* the average household in Greater Sudbury needed two annual incomes in order to buy a house. In Ontario and Canada during this period, 4 annual incomes on average were required to purchase a home. 39, 40
*Since 2004, Sudbury has been experiencing an overall economic boom, which has also translated into much higher house prices. These changes are not reflected in the data available. - New housing starts have been rising in Sudbury from 170 in 2000 to 440 in 2006. 41
38. Canada Mortgage and Housing Corporation. Rental Vacancy Rate, Canada, Provinces and Metropolitan Areas, 1992 - 2005.
http://www.cmhc.ca/en/corp/about/cahoob/data/data_004.cfm.
Last accessed on September 21, 2007 Back
39. Canada Mortgage and Housing Corporation, MLS Residential Price, Canada, Provinces and Metropolitan Areas (1995 - 2004); based on data from CREA.
http://www.cmhc.ca/en/corp/about/cahoob/loader.cfm?url=/commonspot/security/getfile.cfm&PageID=96839
Last accessed on September 21, 2007 Back
40. Statistics Canada. Median total income, by family type, by census metropolitan area, 2001-2005. Based on tax data.
http://www40.statcan.ca/l01/cst01/famil107a.htm
Last accessed on September 21, 2007 Back
41. Canada Mortgage and Housing Corporation (2006). Housing Market Outlook, Northern Ontario, 2006
http://dsp-psd.pwgsc.gc.ca/Collection/CMHC/HM/NH12-227E/NH12-227-2006-2E.pdf
Last accessed on September 21, 2007 Back
52. KeyFacts, City of Greater Sudbury (2006). Apartment Vacancy Rates and Average Rents.
http://www.city.greatersudbury.on.ca/content/keyfacts/documents/
HD%5FVacancy%5FRates%5FAvg%5FRent%5F2006%2Epdf
Last accessed on September 23, 2007 Back