It’s yet another report about how expensive it is to live in the province, which is also shedding light on just how much of their income B.C. renters are spending on rent.
The report, which comes from SingleKey, unsurprisingly reveals that Vancouver renters have it the worst in Canada. The data in the report is based on analysis of rental applications to SingleKey’s platform between Jan. 1 and Aug. 15, 2025.
The data was provided directly by renters, combined with credit data from licensed credit bureaus.
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According to the data provided to us, provincially, B.C. renters on average are spending around 38.48 per cent of their income on rent. The report suggests that spending 40 per cent or more of your income on rent is considered by experts to be in “crisis territory.”
“In Vancouver, it’s already 37.46 per cent. Above the recommended 30 per cent maximum,” the report states.
However, these numbers are just averages, meaning many residents are spending more than 40 per cent of their income on rent, putting them in that affordability crisis territory.
There were some other staggering insights revealed about Vancouver from the SingleKey report.
We already know that folks around Vancouver pay the most for rent in all of the country, but the report says that the average rent for all property types in Vancouver is $3,095 per month.
It also suggests Canada has a two-tier rental market, highlighting gateway cities like Toronto and Vancouver, which attract high-income and high-credit renters, versus other regions like Calgary and Edmonton that offer a more moderate market with moderate rents and incomes.
We’ve seen similar realities when it comes to buying a home and the income required to do so. RateHub’s latest analysis suggested that, based on an average Vancouver home costing $1,173,100, household income would need to be around $238,820.
The report also shed some light on the average renter’s credit score in Canada and in specific cities. Vancouver renters have an average credit score of 730, which leads the country, and sits above the national average of 694.
Breaking down how much B.C. renters are paying for rent
Elena Berd/Shutterstock
Rent breakdowns vary depending on where you look. As mentioned above, the SingleKey report offers an average of $3,095 for all property types based on data it got from renters.
Based on all the listings currently available on the platform, Craigslist suggests that the average rent is $2,467 per month. That includes municipalities outside of Vancouver.
Rentals.ca, which posts monthly rent reports for specific municipalities across Canada, states that North Vancouver is the most expensive place to rent in B.C., with the average asking rent for a one-bedroom apartment coming in at $2,630. Vancouver follows closely behind at $2,513 per month. These numbers are based on data from July 2025.
Two-bedroom units are an entirely different ball game. In North Vancouver in July, the average rent for a two-bedroom unit was $3,500 per month; in Vancouver, it was $3,488 per month.
For the province as a whole, which includes more affordable cities, Rentals.ca said that B.C. saw an average asking rent of $2,457 in July. Higher than any other province, with only Ontario coming close.
Rentals.ca
Are you near the crisis territory regarding how much you’re paying for rent every month? Let us know in the comments.