Rental prices are rarely affordable in the Lower Mainland, even in the cheapest neighbourhoods.
Canada's four most expensive cities to rent a newly listed, one-bedroom, unfurnished unit were located in Metro Vancouver this March, according to liv.rent's latest report.
West Vancouver is the priciest city, with one-bedroom units renting for an average of $2,864. North Vancouver's units averaged a couple hundred less, at $2,609 in March.
The city of Vancouver retains the third-most expensive title, with its one-bedroom units averaging $2,460 (up slightly from $2,468 in February). Richmond rounded out the top four, with its units averaging $2,305.
Metro Vancouver's average rental prices also increased, with unfurnished, one-bedroom rental units climbing by $9 from $2,293 to $2,306.
However, several areas offer significantly cheaper rent than the regional average.
Where can I find cheaper rent in Metro Vancouver this March?
Abbotsford remains the cheapest place to rent a newly listed, one-bedroom, unfurnished unit, with prices averaging $1,634 this March.
Renters looking to stay within Metro Vancouver will find the widest selection of low-cost housing in Surrey, with several neighbourhoods averaging under $2,000. Newton offers the cheapest options, averaging $1,768. Fleetwood has the next-lowest units, with an average rent of $1,722, while Guildford has the third-cheapest prices at $1,798.
Surrey City Centre also has units under $2,000, with prices averaging $1,943 this month. White Rock averaged just above $2,000 at $2,055.
Langley also offers affordable options for Lower Mainland renters. The Willowbrook neighbourhood's units averaged $1,877 while Willoughby's averaged $2,002.
Burnaby, Metro Vancouver's fifth-priciest city overall, even has a couple of more affordable neighbourhoods. SFU/Burnaby Heights units averaged $2,019 and South Slope averaged $2,067.
In Coquitlam, the Burquitlam area averaged $2,180. Richmond's cheapest neighbourhood, Steveston, also averaged $2,180.
Vancouver’s cheapest neighbourhood, Sunset-Victoria-Fraserview, had an average rent of $1,931. It was the only area with rents averaging under $2,000. However, the Hastings-Sunrise neighbourhood area averaged slightly more, at $2,042.
Dunbar-Arbutus rents averaged $2,141 while Marpole's averaged $2,178. A couple of options also had average rents in the $2,200 range. Renfrew-Collingwood rents averaged $2,203 while Killarney averaged $2,213.
