Vancouverites face the second-priciest average rental prices in Canada this June — but there are some more affordable areas to hunt for housing in the city.
The Metro Vancouver region has seen average rental prices climb since March, which was the last time the region saw a decline in soaring costs. In June, the average cost to rent a one-bedroom, unfurnished unit has risen by $12 to $2,330, according to the latest report from Liv.rent.
In the City of Vancouver, prices increased by $71 from $2,541 to $2,612 for the average one-bedroom, unfurnished unit. Two- and three-bedroom units have also continued to increase in price, with rents averaging $3,648 and $4,735 per month respectively.
In the city, downtown Vancouver has the highest prices, with one-bedroom, unfurnished units averaging $2,741. Several other neighbourhoods feature high average costs, such as $2,659 in Mount Pleasant or $2,608 in Kitsilano.
The cheapest neighbourhoods in the City of Vancouver for rental housing in June 2023
Folks looking for rental options in Vancouver for under $2,000 won't find many options. In fact, there are no neighbourhoods in the city that average below that price point, although there are some individual listings that rent below it.
While Renfew-Collingwood is the cheapest neighbourhood, renters still face an average of $2,237 per month for a newly-listed one-bedroom, unfurnished unit in the area.
Marpole, the second-most-affordable option, won't set housing hunters back much more, with listings for the same units averaging $2,246 this month.
Strathcona-Grandview Woodland provides the third-best market for renters, with single-bedroom homes averaging $2,316 this month. Fairview apartments are about $84 more, with units averaging $2,400.
West Point Grey/UBC rounded out the top five lowest-priced neighbourhoods, with one-bedroom, unfurnished units averaging $2,450.
- Renfrew-Collingwood $2,237
- Marpole $2,246
- Strathcona-Grandview Woodland $2,316
- Fairview $2,400
- West Point Grey/UBC $2,450
- Kerrisdale $2,455
- South Cambie-Riley Park-Kensington Cedar Cottage $2,373
- Kitsilano $2,608
Have a look a the cheapest rental options across the Metro Vancouver region.
