Yukon rent hits record high: survey

A new survey in Yukon shows the cost of renting an apartment is going up — in fact, the median has reached a record high of $875.

Median rent at $875, up from $700 six years ago

A new survey in Yukon shows the cost of renting an apartment is going up — in fact, it's reached a record high.

The latest increase is part of a trend, according to the Yukon Bureau of Statistics. 

The median rent in Whitehorse in 2003 was $650; in 2007 it went up to $700; and this year it's at a new record high: $875. 

"You see it moving up slowly," said Gary Brown, senior information officer of the Yukon Bureau of Statistics. "We've had some pretty good years here in terms of the economy, with the mining and even tourism this year.

"So the economy overall has been pretty good and there's been a lot of people working, but the rents have definitely been moving up with that economic activity."

There could be some relief for renters in Whitehorse in the future. 

This year's survey shows twice as many vacancies in the city as last year. 

With more competition, rental prices could start to go down, though that hasn't happened yet.

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