Locals looking to see some relief from soaring rental costs will not find many options this April.
A new report finds that Metro Vancouver’s average rental rates for an unfurnished, one-bedroom unit have risen to $1,908 this April from $1,856 in March. While the increase is negligible, it follows several increases over the past few months — and the region continues to see the highest rental prices in the country.
, a rental platform based in Vancouver, finds that the average price of unfurnished, one-bedroom units in the City of Â鶹´«Ã½Ó³»is also up 2.50 per cent.
All of the Metro Â鶹´«Ã½Ó³»municipalities saw an in rental prices in April, with notably large increases in West Vancouver and North Vancouver, according to the report.
Metro Â鶹´«Ã½Ó³»rent by city/municipality
North Â鶹´«Ã½Ó³»has the highest rental rates for unfurnished, one-bedroom units in April at an average of $2,344. West Â鶹´«Ã½Ó³»is the second most costly, with unfurnished apartments going for $2,196.
The City of Â鶹´«Ã½Ó³»had the region's third-highest unfurnished, one-bedroom units, with prices averaging $2,090.
Surrey has the region's most affordable rates, with one-bedroom apartments listed for $1,453 this month.
Liv.rent notes that unfurnished rentals "saw steady increases almost across the board, while furnished rentals were quite a bit more volatile than in previous months."
Downtown Â鶹´«Ã½Ó³»is the most expensive neighbourhood in which to rent an unfurnished, one-bedroom unit, at $2,348. Mount Pleasant and Point Grey/UBC aren’t far behind, at $2,213 and $2,181 respectively.
Where are the cheapest neighbourhoods to rent in Metro Vancouver? Have a look at this rental map to find the lowest price listings in the region.