Pricey Vancouver is becoming even less popular with renters
Vancouver has become a less popular destination for renters in Canada, according to a new report.
RentCafe has revealed that Vancouver placed 23rd out of 25 cities in the country among renters’ favourites. The city has dropped two places since the last report.
RentCafe states that while Vancouver’s placement reflects the seasonal trend and a shift towards smaller locations, it still is one of the top cities for those looking for a change in scenery.
Rentcafe
“While big cities in Canada like Toronto, Vancouver, and Montréal remain popular among renters, demand appears to have levelled off during the winter months,” explained RentCafe.
“Instead, more apartment hunters on RentCafe.com are exploring smaller cities and suburban areas for affordability, job opportunities, and extra space, particularly for remote work.”
The apartment search website gives Vancouver a rental score of 48.63. In comparison, Winnipeg received a perfect score of 100.
“Vancouver ranks 18th out of 25 cities for apartments added to favourites lists and online traffic — suggesting that renters are still interested, but they are very carefully weighing their options in this pricey city,” added RentCafe.
Winnipeg was the top-ranked city overall in Canada, placing second nationwide for page views and favourited listings. Edmonton, Victoria, Ottawa, and Halifax rounded up the top five.
RentCafe
Two other B.C. cities cracked the top 25 in RentCafe’s latest report: Nanaimo at number 10 and Kelowna at 25.
Despite over a year of consecutive monthly price drops in the city’s rental market, Vancouver is still the most expensive city to rent in the entire country.