Renters looking for cheap options in the Lower Mainland face steeper average prices this month.
In April, the average price for an unfurnished one-bedroom apartment in the region costs $2,263, up $55 from March when the average cost was $2,208, according to liv.rent's latest report.
For unfurnished, one-bedroom units, "Coquitlam, West Vancouver, and Surrey had the most significant increases this month, while the only two month-to-month declines occurred in New Westminster and Vancouver."
Four of the top five most expensive cities in Canada are located in the Lower Mainland. West Vancouver is the most expensive city in the country, with one-bedroom units averaging $2,730.
The City of Vancouver is the second priciest market, with units averaging $2,523. North Vancouver follows in third, with its units averaging $2,476.
Burnaby was the fourth most-expensive market, with prices averaging $2,361 for a one-bedroom, unfurnished unit.
The cheapest Metro Vancouver neighbourhoods for rental housing in April 2023
Renters are unlikely to find options below $2,000 per month in any neighbourhood in the City of Vancouver, but there are a few options in other cities.
Abbotsford offers the most affordable prices for locals looking to get the most bang for their buck, with one-bedroom, unfurnished units averaging $1,565.
Folks looking to stay in the Metro Vancouver region can find rental units averaging $1,913 in Langley's Willoughby neighbourhood.
In Surrey the Guildford neighbourhood costs an average of $1,759 this month, while South Surrey units average $1,919. The Newton neighbourhood units cost an average of $1,934.
Renters hoping to score low-cost options in the City of Vancouver will find their dollars go the furthest in the Strathcona-Grandview Woodland neighbourhood, with units averaging $2,110. Another lower-cost option is Renfrew-Collingwood, where units average $2,156.
The third least-expensive Vancouver neighbourhood is Marpole, with units averaging $2,241 this month.
