Vancouver neighbourhood overtakes downtown as the most expensive to rent in
It is yet another rent report, and this one suggests that a new Vancouver neighbourhood has emerged as the most expensive to rent in the city.
liv.rent‘s latest monthly report, which examines average rent prices for May, has some interesting findings based on the listings on the platform. It highlights the most affordable cities and neighbourhoods to rent in and the disparity between the most expensive and the most affordable.
This month, Dunbar-Arbutus is the most expensive neighbourhood to rent in, with the average rent for a one-bedroom unfurnished unit rising to $2,734. In contrast, liv.rent also highlighted the most affordable neighbourhood.
The rental platform says renters in the Sunset–Victoria–Fraserview neighbourhood, the most affordable, pay an average of $1,958 a month for the same type of unit, marking a $776 per month difference.
Unfurnished units. (liv.rent)
Last month, downtown Vancouver was the most expensive neighbourhood to rent.
Looking at cities, Surrey is the most affordable for an unfurnished one-bedroom unit ($1,851) while West Vancouver is the most expensive ($2,754).
“Several cities saw notable changes in average rent prices this month. Looking at one-bedroom furnished units, West Vancouver (-18.75 per cent) and Langley (-15.12 per cent) saw the biggest month-to-month decreases, while Richmond (+9.65 per cent) had the biggest month-to-month increase,” says liv.rent.
“Looking now at unfurnished one-bedroom units, Coquitlam (-8.16 per cent) experienced the highest month-to-month decrease, followed by Langley (-6.45 per cent), while West Vancouver saw the biggest increase with a drop of (+6.12 per cent).”
Unfurnished units. (liv.rent)
The top five most expensive cities in all of Canada happen to be located in Metro Vancouver.
Lucky us!
liv.rent
liv.rent also shares monthly age demographics for renters. The latest report shows that most renters (37 per cent) are in the 27-34 age group, followed by 25 per cent in the 35-44 age group and 22 per cent under 22 years old.
If you’re looking for a place to rent and are having trouble finding pet-friendly rentals, liv.rent boasts that the platform offers the most in that category. The platform suggests that 54 per cent of rentals are pet-friendly, versus 30 per cent in the listings of other platforms.