(Black Press Media files)

Vancouver, Victoria, Kelowna home to Canada’s most expensive rentals: report

According to PadMapper, units in larger B.C. cities cost $1,300 to more than $3,000

Spending more than $1,000 a month on a one bedroom has become a reality for most renters in B.C.’s busiest cities, as rental rates continued to rise through 2018.

According to PadMapper’s Canadian rent report, a one bedroom in Vancouver, Burnaby, Victoria and Kelowna costs between $1,300 and $2,200 on average. Meanwhile, a two-bedroom costs anywhere between $1,600 and $3,200.

PadMapper’s report, released Tuesday, analyzes rental data from thousands of active listings across the country to calculate average asking rents for the top 24 most populous metro cities. The data does not include short term or Airbnb listings.

Toronto topped the list, where most renters can expect to pay about $2,200 for a one bedroom, and $2,850 for a two bedroom.

Rent in Vancouver for a one-bedroom went up 6.5 per cent from 2017 to last year, according to the data, and less than one per cent for a two bedroom.

READ MORE: Vacancies remain low as rents rise in B.C.

READ MORE: Kelowna ranked 7th most expensive rental market in Canada

Victoria saw the largest uptick year-over-year for both kinds of units. One bedroom units reached $1,390 – a 16 per cent increase from 2017 – and two bedrooms totalled an average of $1,590, which was a five per cent increase.

Abbotsford, the only city in B.C. included in the report with an average rental rate of just under $1,000, also saw double-digit increases to prices.

A one bedroom in the Fraser Valley city averaged $950 in 2018 – up 12 per cent from the year before. A two bedroom was priced at $1,080, which was a 12.5 per cent increase.

The average prices follow a November report by the Canadian Mortgage and Housing Corporation, which found that B.C.’s rental vacancy rate sat at 1.4 per cent last year.

The corporation said B.C. had the highest average rent of $1,387 for a two-bedroom, compared to $1,266 in Toronto and $1,215 in Alberta.


@ashwadhwani
ashley.wadhwani@bpdigital.ca

Like us on Facebook and follow us on Twitter.

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Surrey-born Trybe social media app’s award system connects with Nickelback singer

‘It’s turned into so much more than we originally conceived,’ says co-founder of the new platform

Drifting sailboat runs aground on White Rock beach

Vessel dragged anchor in high wind, no environmental damage sustained

Peace Portal Seniors Village staff member tests positive for COVID-19

Staff member currently in isolation at home, enhanced control measures in place

B.C. food awards for Surrey-made honey, chips and ‘plant-based comfort food’

Online celebration for KB Honey, Hardbite Chips and Connie Marples’ Boosh Food, among others

Sullivan Heights, Tamanawis each report second COVID-19 exposures

Fraser Health has created a new webpage listing COVID-19 cases in schools

BC Liberal Leader talks drug addiction in the Lower Mainland

Drug addiction and public safety a top priority says Andrew Wilkinson

Pandemic derails CP Holiday Train

Canadian Pacific will work to get donations to food banks while also producing an online music concert

Vanderhoof’s Brian Frenkel takes on top job in tough times

We can get through this, new local government leader says

Join Black Press Media and Do Some Good

Pay it Forward program supports local businesses in their community giving

Mounties cleared by watchdog in fatal shooting of man with schizophrenia in Maple Ridge

Kyaw Din was killed by the RCMP during a mental health incident in August 2019

Local councils important, Horgan says as municipal conference ends

B.C. NDP leader says ‘speed dating’ vital, online or in person

Penticton woman sentenced to one year in prison for manslaughter of teen boyfriend

Kiera Bourque, 24, was sentenced for manslaughter in the 2017 death of Penticton’s Devon Blackmore

B.C. Green leader says NDP abandoning environmental plan

Horgan’s claim of unstable government false, Furstenau says

Most Read