The Average Price Of Renting In Vancouver Has Risen Again & Here's How Much It Now Costs
It keeps going up and up!
Renting in Vancouver is known to be pricey, but it has increased even more.
According to a new study from Liv.rent, rent prices across Metro Vancouver have soared this month, up $108 since the April rent report.
If you've moved lately, or are even considering a move to Vancouver, you might have noticed the drastic increase in prices. All around the city, rent is increasing, and there's no sign of it stopping.
The study even said that the current rent prices are at an "all-time-high."
Average Rent Price In Vancouver
The overall average rent price in the Vancouver area, for an unfurnished one-bedroom unit, is a hefty $2,016 this month, according to the study.
"This month is also significant as most of the largest price increases once again came from Vancouver itself, as well as nearby communities like Burnaby, West Vancouver and North Vancouver," the study said.
It wasn't just unfurnished rentals either. In fact, the study said that "furnished and unfurnished rental units experienced considerable volatility this month practically across the board."
The overall average rent price for a furnished one-bedroom unit sits at $2,195.
The Neighbourhoods
If you're looking at different neighbourhoods to move to, you might want to consider your wallet first.
West Vancouver is the priciest one in the area, for unfurnished units — including one, two, and three-bedroom options.
Surrey is on the other side of the spectrum, with the cheapest unfurnished one-bedroom rental units. You can expect to pay around $1,631 per month there.
Looks like it might be time to leave the city, and embrace the suburb life.