Â鶹´«Ã½Ó³»rent prices continue to skyrocket as students begin the start of a new school year.
Metro Â鶹´«Ã½Ó³»has seen rental prices for a one-bedroom, unfurnished unit increase for the past six consecutive months, with September's eye-watering new average of $2,438 setting a new record for the region and marking the sixth increase, according to the from Liv.rent.
September's average rose $32 from August's regional average of $2,406. Year over year, September's average price has increased by a whopping $191.
For the fifth month in a row, all of Canada's top five most expensive markets to rent are located in Metro Vancouver. While Â鶹´«Ã½Ó³»continues to be the priciest place to rent a one-bedroom unit, West Â鶹´«Ã½Ó³»is only $1 behind. North Â鶹´«Ã½Ó³»had the third-highest average price tag, while Richmond followed in Fourth. Burnaby rounded out the top five.
Metro Â鶹´«Ã½Ó³»apartments for rent: Average rent by listing type
The City of Â鶹´«Ã½Ó³»is the priciest place to rent a one-bedroom, unfurnished unit, with prices averaging $2,802 this September. However, this price is slightly lower than the average price for the city last month, when prices climbed to $2,849.
As previously stated, West Â鶹´«Ã½Ó³»isn't far behind (-$1), with prices for the same units averaging $2,801. North Â鶹´«Ã½Ó³»rounded out the top three, with its units averaging $2,719. Both of the cities saw an increase in their respective average rent prices this month over last.
Richmond was the fourth most expensive market in Metro Â鶹´«Ã½Ó³»and across Canada this month despite its average prices dropping overall. One-bedroom units in the region averaged $2,629.
Burnaby rounded out the top five priciest places, with its one-bedroom, unfurnished units averaging $2,536 and also marking an increase in prices for the city.
For the second consecutive month, Langley had the least expensive average rent prices for one-bedroom, furnished, unfurnished units.
Â鶹´«Ã½Ó³»rent by neighbourhood in September
West Point Grey/UBC has the city's steepest prices this month, with one-bedroom units averaging an eye-watering $3,144.
Downtown Â鶹´«Ã½Ó³»has the second-highest prices, with units averaging $2,944 in September. Mount Pleasant's units were the third-most costly, averaging $2,812.
Kitsilano was the fourth priciest market, with its units averaging $2,674, while Fairview rounded out the top five with rentals averaging $2,630.
