Metro Vancouver renters face even steeper costs for unfurnished, one-bedroom units in the region this April but some neighbourhoods offer a respite from sky-high prices.
Liv.rent's latest rent report shows average prices for newly-listed rental units have increased by $39 (+1.68%) between March and April, climbing from $2,337 to $2,376.
Prices for a one-bedroom, unfurnished unit have increased year-over-year by $113.
West Vancouver is now the most expensive city in which to rent an unfurnished, one-bedroom unit, with prices increasing to $2,733, up from $2,531 in March.
North Vancouver - previously the most expensive city to rent in - wasn't far behind West Vancouver, with prices averaging $2,709, an increase from $2,677 in March.
Folks in the City of Vancouver face the third-highest average costs, with prices for newly-listed rental units averaging $2,562 this month, up from $2,531 in March.
Where can I find cheap rent in Metro Vancouver in April 2024?
Renters looking for lower average costs can find cheaper options in some neighbourhoods but the pickings are slim, particularly for people searching within areas that have rental options that average under the $2,000 a month mark.
To score the lowest prices, people must travel from Metro Vancouver to the Fraser Valley. Abbotsford continues to offer the lowest costs for unfurnished, one-bedroom units, averaging $1,701 in April, or nearly $300 below the $2,000 point.
Langley also has more options for locals looking to keep their rent under $2,000. Price in its Willowbrook neighbourhood averaged $1,922 in April.
Prices are also low in another Langley neighbourhood, Willoughby, but monthly rents for units made available in April still snuck over the $2,000 mark, averaging $2,010.
The Surrey Cite Centre neighbourhood's unfurnished, one-bedroom units averaged $2,075, while the Guildford neighbourhood's units averaged $2,093.
The same type of unit rents for an average of $2,127 in Vancouver’s cheapest neighbourhood, Sunset-Victoria Fraserview.
Folks in Vancouver can also find cheap rent in the Marpole neighbourhood, where units averaged $2,184. In the city's Renfrew-Collingwood area, rental units averaged $2,291.
Newly listed one-bedroom rental units in Burnaby's SFU/Burnaby Heights neighbourhood averaged $2,230 per month.
One-bedroom options hitting the listings in Richmond's Bridgeport averaged $2,366 in April.
