(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.

Just Posted

Nelson’s Charlie PS shortlisted for CBC award

Voting ends Tuesday for the prize

Nelson Nordic Club gets nerdy at provincials

The club had several podium finishes at Sovereign Lake Nordic Centre

Rescued snowmobilers ill-prepared for emergency, Castlegar RCMP say

Two men rescued Wednesday night were not ready for overnight in back country

Bronze for Nelson boxer at Canada Winter Games

Brayden Hellekson defeated Seamus O’Brien on Wednesday

B.C. Interior free from measles

Vancouver measles outbreak hasn’t spread to the B.C. Interior

Sell regulated heroin to curb B.C.’s overdose problem: report

B.C. Centre on Substance Use points to organized crime and money-laundering as contributing factors

Galchenyuk scores in OT as Coyotes edge Canucks 3-2

Vancouver manages single point as NHL playoff chase continues

B.C. legislature moving suspended staff controversy to outside review

Whale watching, Seattle Mariners trips billed as emergency preparedness, Speaker Darryl Plecas says

More people signing up for compulsory vaccines

Maple Ridge mom says public tired of hearing about measles

UPDATE: Man charged in stabbing of woman, off-duty cop outside B.C. elementary school

Manoj George, 49, is facing two counts of aggravated assault and two counts of assault with a weapon after the incident on Wednesday, Feb. 20.

Why do zebras have stripes? Perhaps to dazzle away flies

Researchers from University of Bristol look into why zebras have stripes

Poll: More voters believe Canada doing worse under Trudeau government

22 per cent believed the country is doing better and 27 per cent said things are the same

HBC shuttering Home Outfitters across Canada

North America’s oldest retailer is revamping its various stores to improve profitability

BC SPCA investigates Okanagan woman with prior animal abuse convictions

BC SPCA is investigating a property near Vernon

Most Read