Van­cou­ver tops rental cost list

One-bed­room unit in the city costs al­most $2K per month

StarMetro Vancouver - - VANCOUVER - Wanyee li

Van­cou­ver renters look­ing for a one-bed­room unit need to fork over al­most $2,000 ev­ery month on aver­age, ac­cord­ing to Jan­uary 2017 data from PadMap­per, a rental-list­ings web­site.

The sec­ond-most ex­pen­sive city for rentals was Toronto, where peo­ple can rent a onebed­room for al­most $300 less per month.

But that city is ex­pe­ri­enc­ing a sharp in­crease in rental prices, with av­er­ages go­ing up by five per cent in just one month.

An aver­age one-bed­room rental in Van­cou­ver in Jan­uary 2017 cost $1,900, a 1.6 per cent in­crease from the pre­vi­ous month, ac­cord­ing to the PadMap­per re­port.

That price point is the high­est it has ever been in the coun­try since June 2016, when PadMap­per first started an­a­lyz­ing rental data.

But peo­ple will­ing to live an hour out­side Van­cou­ver can pay half the amount.

It’s $800 to rent an aver­age one-bed­room unit in Abbotsford, ac­cord­ing to PadMap­per.

But there is some good news for Van­cou­ver renters, be­cause the mar­ket for two-bed­room units cooled slightly with units go­ing for a monthly aver­age of $3,130, down 0.6 per cent from Jan­uary.

Mean­while, Victoria came in third place with a one-bed­room ,go­ing for $1,290 a month.

No­table jumps in rent in­clude both one- and two-bed­room units in Kelowna, where rates went up by four per cent and five per cent, re­spec­tively.

PadMap­per com­piles rental list­ings from across Canada ev­ery month, in­clud­ing about 1,000 from Van­cou­ver alone to cre­ate its monthly rental re­ports.

Jen­nifer Gau­thier/Metro file

The me­dian price for a one-bed­room unit in Van­cou­ver is $1,900 ac­cord­ing to new numbers by PadMap­per, far and away the high­est in the coun­try.

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