Average rent for unfurnished one-bedrooms in Vancouver is $2,541: report

May 9 2023, 7:57 pm

The people who feel the cost of living crisis in Canada the most are whoever is trying to rent an apartment in Vancouver right now. Vancouver-based rental platform liv.rent just released its latest rent report, analyzing all rental listings and averaging the asking rents across Metro Vancouver.

Following back-to-back rental increases in April and May, the asking rent for an unfurnished, one-bedroom unit in Vancouver is a whopping $2,541. In Metro Vancouver as a whole region, the average cost of rent for this unit type rose by $55, bringing the average to $2,318.

liv.rent

liv.rent

The average monthly rent price for an unfurnished, one-bedroom unit in West Vancouver topped $3,000 this May, said liv.rent. West Van has the most expensive one-, two-, and three-bedroom units in Metro Vancouver.

From April to May this year, average rent prices for one-bedroom, unfurnished units increased in every city except Burnaby and Coquitlam.

liv.rent

liv.rent

It’s uncertain whether prices will continue to rise throughout 2023 or return to previous levels, but demand is still incredibly high in Canada’s major rental markets.

You can learn more and see the full May rent report from liv.rent.

How are you affording rent in the city?

Sarah AndersonSarah Anderson

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