Are there any actual affordable rentals within Metro Vancouver?

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If you’re looking for affordable rentals near Vancouver, there’s hope, and we don’t mean the city of Hope.

But what does affordable even mean?

The cost of living, particularly housing affordability, is a constant conversation and source of contention around Metro Vancouver.

Various media publications constantly share stories about how hard it is to earn enough to buy a home, but the situation for renters isn’t dramatically better in Vancouver. Thankfully, there are some regions in and around Metro Vancouver where rent isn’t as absurd, and there are even some spots in Vancouver you can find from time to time that aren’t the worst.

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Depending on the platform you’re searching through, whether it’s Facebook Marketplace, Craigslist, or a website like liv.rent, your mileage will vary.

First, let’s define affordability, which will be defined differently for every resident based on income.

According to BC Housing, affordable housing is “when 30 percent or less of your household’s gross income goes towards paying for your housing costs.”

So, say you make $50,000 per year, 30% would be $15,000, equating to a rental of around $1,250 per month to qualify as “affordable” based on that salary. Most people would consider themselves lucky to find a monthly rental in Vancouver for that amount.

The average income in Vancouver varies depending on your source. Zip Recruiter, a popular job recruitment agency, suggests that, as of December 2023, the average Vancouver salary is $69,513. Thirty per cent of that is $20,853.

Based on the average Vancouver income, affordable would mean a monthly rental valued at around $1,700. The most recent Rentals.ca rent report suggests that the average rent in Vancouver for a one-bedroom apartment is $2,700, $1,000 more than the “average” income earner could afford.

Affordable rentals around Metro Vancouver

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Are there rentals in Vancouver for around $1,700?

The answer is yes, but in terms of what you’re getting, it varies greatly. It is possible to strike some gold among dingy basement suites and tiny bachelor homes. But due to Hunger Games-like competition, your odds of acquiring that spot are easier said than done. If you get a viewing of that golden spot, your references must be pristine, and you’ll have to make sure the first impression with your new landlord isn’t awkward.

Vancouver

While it might not be presented the most beautifully, this Vancouver basement suite was recently listed for $1,700 with gas, WiFi, and hydro included.

Vancouver Craigslist

Then there’s a spot like this studio near UBC, also listed for $1,700.

Vancouver Craigslist

Burnaby and New Westminster

If you want more bang and size for your buck, you’ll need to look outside of Vancouver.

For example, for $1,700, New West and Burnaby both offer apartments with way more space. They’re also often newer or newly renovated spaces.

This Burnaby rental offers decent square footage and has been entirely renovated.

Vancouver Craigslist

Surrey and Langley

You’ll likely find the best deals in Surrey and Langley. One way you might not be as lucky is transit accessibility.

The tradeoff is you may be able to find an even bigger spot, potentially even a two-bedroom unit like this suite in Fraser Heights.

Vancouver Craigslist

Where have you found luck, if any, finding an affordable spot around Metro Vancouver? Let us know in the comments.