VancouverMETRO VANCOUVER NEWS
What a one-bedroom apartment costs to rent in Vancouver this September
A liv.rent report puts Metro Vancouver's average rent for a newly listed unfurnished one-bedroom at $2,085 in September, slightly below August, while several local markets remain among Canada's costliest.
The average rent for a newly listed, unfurnished one-bedroom apartment in Metro Vancouver was $2,085 in September, down slightly from $2,098 in August, according to the latest liv.rent report. The regional average was down 3.95 per cent year over year, a decline of $86.
West Vancouver remained the most expensive place to rent a newly listed one-bedroom apartment, narrowly ahead of North Vancouver. Its average fell $68 from $2,533 in August to $2,465 in September, while average rents for two- and three-bedroom apartments rose sharply to $3,509 and $5,131.
North Vancouver ranked second, with one-bedroom rents rising $62 from $2,384 in August to $2,446. It also had the second-highest average rents for two- and three-bedroom units, at $3,389 and $4,563.
Vancouver remained among the three most expensive communities, with one-bedrooms averaging $2,328, up from $2,289 in August. Its two- and three-bedroom units averaged $3,092 and $3,629, respectively, the third-highest rates in the region.
Burnaby remained Metro Vancouver's fourth-most-expensive city and Canada's fifth-most-expensive rental market after moving ahead of Richmond in August. One-bedrooms averaged $2,101 in September. Burlington, Ont., ranked fourth in Canada at $2,102, just $1 more than Burnaby. Richmond rounded out Metro Vancouver's five most expensive cities, with units averaging $1,996.
Surrey offered more relatively affordable options, with one-bedrooms averaging $1,736 and two-bedrooms $2,112. Its three-bedroom units, however, were no longer the least expensive: they averaged $2,944, slightly more than in Langley. Langley one-bedrooms averaged $1,817 and two-bedrooms $2,227, while its three-bedroom units averaged $2,895, the lowest price in September.
Average rents for both furnished and unfurnished one-bedroom units fell across Metro Vancouver in September. The report's authors said furnished one- and two-bedroom rents declined together in Burnaby, Richmond, Coquitlam and New Westminster, and rose together in North Vancouver and Langley. In West Vancouver, furnished one-bedroom rents rose 2.93 per cent while unfurnished one-bedroom rents fell 2.69 per cent.