Burnaby's rental market continues to be one of the most expensive in the country.
According to Rentals.ca's latest report, Burnaby had the second highest rental prices in May with a one-bedroom listed at $2,545 per month while a two-bedroom costs more than $3,000 at $3,213.
Vancouver continues to hold top spot with a one-bedroom listed at $2,671 while a two-bedroom currently is averaging a price of $3,628.
Across Canada, all residential property types hit an all-time high average of $2,202 last month, surpassing the $2,200 mark for the first time.
“Canada’s rental market is entering the peak summer season with continued strength,” the report stated.
"Markets such as Vancouver and Toronto that had experienced some softening in rents in previous months are stabilizing near record highs, while many of the country’s mid- and small-sized cities are still posting double-digit rent increases.”
Provincially, B.C. holds the highest average rental prices with a one-bedroom listed at $2,250 while a two-bedroom is $2,860 and three-bedrooms hitting $3,242.
