If you are struggling to find affordable rent in Metro Vancouver, you are far from alone.
Rental prices across the region have dropped for the second month in a row but Canada’s top four priciest-rental markets are still located within it.
Vancouver is the country’s priciest market for rental housing, with units averaging $2,587. West Vancouver follows in second, with units averaging $2,584 in rent per month.
North Vancouver has Canada’s thirst-most-expensive market, with prices averaging $2,431. Burnaby follows in fourth, with monthly rental prices averaging $2,360.
And despite overall prices decreasing in the Lower Mainland, renters looking for accommodation in the City of Vancouver face steeper costs this month. Prices for one-, two-, and three-bedroom, unfurnished units in the City of Vancouver all increased this month over last.
The average price for an unfurnished one-bedroom unit in the city now sits at a staggering $2,587, while prices across the Lower Mainland average over $300 more, at $2,208.