Vancouver One-Bedroom Rent Hits Another Record High In July

Vancouver’s already-expensive rent has broken yet another record, according to PadMapper’s latest report.

In July, the average rent in Vancouver for a one-bedroom apartment increased 2.5%, reaching $2,090. This was the first time rent for this home type jumped higher than the $2,000 mark since PadMapper started tracking this data across Canada.

Two-bedroom rent, on average, was $3,230 in Vancouver in July. This is up 2.5% compared with June but remains lower than the average of $3,240 seen in May.

Year-over-year, one-bedroom rent has jumped 15.5% in Vancouver, and two-bedroom rent has increased 2.5%.

Vancouver remains – by far – the most expensive major city in Canada in which to rent an apartment. Toronto once again came in second place with rents of $1,800 and $2,430 for one- and two-bedroom apartments, respectively. One-bedroom rents in Canada’s largest city are, on average, 16% lower than in Vancouver, and two-bedroom rents are almost 33% lower.



The average rent for a one-bedroom unit in Victoria fell 5.1% to $1,120. Two-bedroom rent inched up 0.7% to $1,410.

PadMapper compiles rental data statistics from Canada’s 25 biggest metropolitan areas in terms of population size.

References: biv.com