As life returns to normal, rents are rising in Vancouver neighbourhoods.
But -- if you know where to look -- there are still some neighbourhoods (10, to be exact) where the average one-bedroom apartment is still less than $2,000 per month. Just don’t expect these prices to last.
According to a report from online rental platform Zumper, the median rent in Vancouver was $2,275 in May. This marks a 17% year-over-year jump in price and the highest rate recorded since Zumper started tracking data in 2016. This month, the city saw 227 apartments for rent.
According to the report, over the past month, the average rent for a studio apartment in Vancouver remained flat. Meanwhile, the average rent for a one-bedroom apartment increased by 3% to $2,275 and the average rent for a two-bedroom apartment increased by 6% to $3,300.
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But there were notable price variations between the city’s different neighbourhoods. A breakdown reveals average prices as low as $1,500 in Hastings-Sunrise and as high as $2,870 in Quilchena.
Other more affordable cities include Arbutus, where the average rent can go for $1600 per month and Grandview-Woodland, where the average rent can go for $1,748 per month. On the other end of the spectrum, in addition to Quilchena, you’ll also find the city’s priciest rentals in Downtown Vancouver, where the average rent can go for $2,500 per month, and West Point Grey, where the average rent can go for $2,400 per month.
Here is a full breakdown of the city's current rent prices:
Downtown Vancouver | $2,500 |
West End | $2,175 |
Mt. Pleasant | $2,250 |
Fairview | $2,000 |
Marpole | $1,950 |
Renfrew-Collingwood | $2,000 |
Kitsilano | $1,963 |
Sunset | $1,914 |
Killarney | $2,050 |
Kensington-Cedar Cottage | $2,000 |
Riley Park - Little Mountain | $2,360 |
Oakridge | $1,995 |
West Point Grey | $2,040 |
University Endowment Lands | $2,218 |
Kerrisdale | $2,075 |
Grandview-Woodland | $1,748 |
Cambie | $2,350 |
Dunbar | $2,000 |
Quilchena | $2,870 |
Hastings-Sunrise | $1,500 |
South Granville | $1,750 |
Strathcona | $1,973 |
Victoria-Fraserview | $1,750 |
Arbutus | $1,600 |
According to Zumper, the most popular neighbourhoods in Vancouver are Downtown Vancouver (where there are 155 listings), the West End (where there are 106 listings), and Mt. Pleasant (where there are 28 places).
Recent rent hikes aren't limited to Vancouver. Rent prices keep climbing across the country, as supply falls short.