Average one-bedroom rent in Metro Vancouver up $430 from last year
What goes up must come down, except if you’re renting in Vancouver. According to the latest rental data from liv.rent, the average rent for an unfurnished, one-bedroom unit in Metro Vancouver has increased by $430 since January 2022.
Average rental prices in Metro Vancouver â last six months
liv.rent
While there was a dip in December, rent popped up again the following month. The average rent for an unfurnished one-bedroom rose by $30 to $2,257.
Also, liv.rent predicts that with interest rate increases expected to slow in 2023, rent prices could soften this year.
Cost of rent in Metro Vancouver municipalities
Of course, the cost of living in downtown Vancouver is vastly different from Langley. Here’s a look at how rent breaks down in each region.
liv.rent
According to the latest data, the cheapest neighbourhoods to rent appear to be Surrey and Langley, where a one-bedroom unit goes for around $1,800 on average. The most expensive is West Vancouver, at $2,844 for the same type of unit. But if you’re looking for three bedrooms, Coquitlam, and Surrey offer the lowest prices.
To learn more, you can see liv.rent’s full January report.
Is your salary keeping pace with the rental increases we’re seeing in Metro Vancouver?
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