Prospective renters face eye-watering prices in the city of Vancouver, although some neighbourhoods offer significantly cheaper options.
B.C.'s largest city is Canada's third-most-expensive rental market in January 2025, with the average price to rent a newly-listed, unfurnished one-bedroom unit averaging $2,490 and two bedrooms averaging $3,262, according to the latest report from liv.rent.
While prices for one-bedroom rentals in the city remained flat month-over-month, two-bedroom rents increased by $54 from December 2024.
West Vancouver was Canada's priciest city, with one-bedroom rents averaging an eye-watering $3,624, while North Vancouver had the second-highest costs, with rents averaging $2,552
Metro Vancouver's average prices for the same one-bedroom rental units fell a modest $4 from $2,297 to $2,293 this month. This price is nearly $200 less than Vancouver's average, although several neighbourhoods in the city averaged less than the regional average in which to rent this month. One even averaged below the $2,000 mark (see slides two and three for map and rankings).
Have a look at the cheapest places to rent an apartment in Vancouver proper this month.
Top 10 cheapest Vancouver neighbourhoods to rent in - January 2025
- Sunset-Victoria Fraserview: People hoping for affordable rent in the city should check out Sunset-Victoria Fraserview. The east Vancouver neighbourhood was the only one in the city with rents averaging under $2,000 at $1,976.
- Marpole: The Marpole area is the next-best option for renters in the city looking for cheaper options, with rents averaging $2,072.
- Hastings-Sunrise: East Vancouver's Hastings Sunrise neighbourhood is the third-cheapest option, with rents averaging $2,200.
- Killarney: Killarney is the fourth least expensive option for renters, with prices averaging $2,202.
- Renfrew-Collingwood: The Renfrew-Collingwood neighbourhood rounded out the top five cheapest options, with prices at $2,220.
- Dunbar-Arbutus: The Dunbar-Arbutus neighbourhood also has rents averaging under $2,300, at $2,254.
- Kerrisdale: Kerrisdale is the seventh-most-affordable option this month, with rents averaging $2,302.
- Shaughnessy: While it is known for its pricey real estate, the Shaughnessy neighbourhood ranked in the top 10 cheapest areas to rent this month, with prices averaging $2,374.
- Strathcona-Grandview Woodland: Prices start to get quite high after Shaughnessy. The Strathcona-Grandview Woodland area offers the next best option, with prices averaging $2,430, or just $60 below Vancouver's monthly average.
- West End: The West End rounded out the top 10 "cheapest" options, with its units averaging $2,457.
