(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

West Kootenay RCMP charge man with impaired driving in school zone

Sgt. Chad Badry reports on impaired drivers and other high risk offences

Company granted leave to appeal Lemon Creek charges

Executive Flight Centre won a decision in the BC Court of Appeal

Kaslo bus fueled by vegetable oil to begin service next month

Mountain Man Mike’s will run routes to Vancouver and eventually Edmonton

Police investigating felling of old cedars at Cottonwood Lake

One of the cedars was 300 to 450 years old

Castlegar non-profit’s stolen van located

Kootenay Society for Community Living’s van was stolen May 14.

Killer of Calgary mother, daughter gets no parole for 50 years

A jury found Edward Downey guilty last year in the deaths of Sara Baillie, 34, and five-year-old Taliyah Marsman

Cost jumps 35% for Trans-Canada Highway widening in B.C.

Revelstoke-area stretch first awarded under new union deal

Is vegan food a human right? Ontario firefighter battling B.C. blaze argues it is

Adam Knauff says he had to go hungry some days because there was no vegan food

Winds helping in battle against fire threatening northern Alberta town

Nearly 5,000 people have cleared out of High Level and nearby First Nation

B.C. sends 267 firefighters to help battle Alberta wildfires

Out of control fires have forced evacuations in the province

Calgary Police looking for missing man who may be heading to B.C.

A man last seen on May 15 in Calgary may be heading to the Kootenay region, according to police

LETTER: Fletcher ‘blurs reality’ on B.C. union public construction

Bridge, highway projects awarded to companies, not unions

Federal government funds millions to help B.C. police spot drugged driving

Many police departments have expressed wariness about using the only government-approved roadside test

Most Read