If you're finding it hard to find cheap places to rent in Metro Vancouver, you are far from alone.
Four of the five priciest rental markets in Canada are located in the Lower Mainland. West Vancouver is the most expensive city in the country to rent in, with average prices for newly-listed one-bedroom, unfurnished rental averaging $2,844 per month. North Vancouver isn't far behind in second, with its units averaging $2,576 rent this month, according to liv.rent's latest report.
No longer the priciest market in Canada, the City of Vancouver saw prices fall this month over last. But Vancouverites won't exactly find many low-cost options; it is the third-priciest city in the country, with units averaging $2,627.
Across Metro Vancouver, average rental prices for newly-listed unfurnished, one-bedroom apartments rose by $26 from $2,341 in December 2023 to $2,367 in January 2024.
Where can I find cheap rent in Metro Vancouver?
If you're willing to expand your horizons (or don't have a job that requires you to go downtown), the Fraser Valley offers some of the most affordable options for rent. One-bedroom rental units coming to the market this month cost an average of $1,598.
Langley has the second-cheapest options, with prices averaging $1,822 and $1,867, in the Willoughby and Willowbrook neighbourhoods, respectively.
Surrey also has rental options available for under the $ 2,000-a-month mark. The Fleetwood area's prices start at $1,843, while Guildford's start at $1,855. South Surrey's units averaged $1,941, while Newton's averaged $1,955.
One neighbourhood in Vancouver proper made it under the $2,000 mark this month, too: Sunset-Victoria Fraserview's units averaged $1,865.
The second cheapest option in the city was the Hastings-Sunrise neighbourhood, where units averaged $2,129.
