CALGARY - Calgary’s vacancy rate has nearly doubled in the past year, pushing down rental rates, Canada Mortgage and Housing Corp. said Wednesday.

The apartment vacancy rate in the Calgary region rose to 5.3 per cent in October, up from 2.1 per cent the previous year. That’s the highest level since 1993.

It was also one of the highest rates in the country, and nearly double the national rate of 2.8 per cent, the agency said.

Average rents for a two-bedroom unit in Calgary fell to $1.099, down from $1,148 the previous year. That was still the second highest in the country, behind only Vancouver.

CMHC said job losses, fewer people moving to Calgary and lower home prices have boosted the vacancy rate in the past year.