If you are looking for affordable Metro Â鶹´«Ã½Ó³»rent, you might be looking for quite some time.
Average prices for unfurnished, one-bedroom rental units are down for the third consecutive month but continue to rank at the top of the country.
This December, the average price for a rental unit is $2,341, down $41 from $2,362 in November, according to liv.rent's latest report.
But prices in the City of Â鶹´«Ã½Ó³»are significantly higher than the regional average, sitting at an eye-watering average of $2,659.
Prices in other cities, such as West Â鶹´«Ã½Ó³»and North Vancouver, aren't much cheaper, at $2,613 and $2,597, respectively.
Looking at neighbourhoods in Â鶹´«Ã½Ó³»proper shows even higher costs, with prices in areas like Dunbar-Arbutus averaging $3,514 this month. Thankfully, it is the expensive outlier, with all of the other neighbourhoods in the city averaging under $3,000.
Are there any affordable Metro Â鶹´«Ã½Ó³»rent options?
Downtown Â鶹´«Ã½Ó³»might not be the best area to explore if you are looking for affordable rent. However, several areas in the Lower Mainland offer more affordable options.
While it is outside of Metro Vancouver, folks looking to move out to the country (Abbotsford) can enjoy prices averaging $1,710.
Apartment-seekers looking to stay inside Metro Â鶹´«Ã½Ó³»lines will also be able to find low-cost options in Surrey and Langley.
Surrey's Guildford neighbourhood costs an average of $1,756, while South Surrey units averaged $1,794. The Fleetwood neighbourhood is also an affordable option, with units averaging $1,958.
Langley's Willoughby neighourhood costs an average of $1,841.
After Langley and Surrey, options across the region look dimmer; no other neighbourhoods are under $2,000 this December. That said, Burnaby's South Slope area sits at $2,129 while New Westminster averaged $2,195.
Folks who have their hearts set on living in Â鶹´«Ã½Ó³»proper will find the cheapest options in the Hastings-Sunrise area, which has an average rental cost of $2,275.
