2020 started out strong with a total of 99 new listings in the month of January 2020, As winter settled in and once covid hit the numbers plummeted to less than 50 new listings in March – April 2020. May spiked an increase of new listings with 48% increase from March to August which showed a positive rental market sign of 96 new rental listings. September dropped 77 listings.
September 2020 has been a rather interesting month for us with labour day weekend, back to school and a potential threat of a second covid outbreak. The university of Windsor remains at a halt which is hurting many landlords who are forced to have empty rooms with lower rents.
Year to date is promising! From September 2020 to 2019 we are up a total of 26% new listings. It’s even higher than 2018, 2017. As the cost of living rises and the fall of high paying jobs more and more Windsor citizens are becoming tenants. This is a positive note for all landlords.
Windsor’s average rental prices have steadily increased over the past several years. It has now reached a breaking point of affordability for Windsor tenants. Many Windsor tenants are struggling financially to make ends meet on a month to month basis.
When pricing out your unit try to capitalize on the high rental prices and offer your units just below market rents. This way, you’ll attract a long term tenant and when the market does correct itself you won’t be hit with a tenant looking for new rental unit.
|1 BEDROOM APARTMENT||2 BEDROOM APARTMENT||SINGLE FAMILY HOME|
|2019 Vacancy Rate Windsor||2.6%|
|2018 Vacancy Rate Windsor||2.5%|
|2017 Vacancy Rate Windsor||2.2%|
|2016 Vacancy Rate Windsor||2.2%|
|2015 Vacancy Rate Windsor||3.3%|
|2014 Vacancy Rate Windsor||3.6%|
|2013 Vacancy Rate Windsor||5.3%|
|2012 Vacancy Rate Windsor||6.6%|
|2011 Vacancy Rate Windsor||6.9%|
|2010 Vacancy Rate Windsor||9.7%|
|2009 Vacancy Rate Windsor||12.2%|
|2008 Vacancy Rate Windsor||13.9%|