Happy New Year: Average Rent Prices In BC Are Expected To Reach $2600 In 2020

Average Rent Price In BC

That time of the year when we start thinking about new year resolutions is near, but there’s one thing that isn’t changing for the better: the average rent price in BC.

According to Rentals.ca, an Ottawa-based listings-provider and data aggregator, the average rent price in Vancouver is expected to surpass $2,423 in 2020, spiking to $2,585 by December 2020.

The average rent price in BC in November 2018 was $2,353, and $2,507 in November 2019.

Overall, the average rent in Vancouver in 2019 was $2,351. That includes all property types, such as basement apartments, rental apartments, condominiums, townhouses, semi-detached homes, and single-detached homes.

RELATED: Happipad Uses Dating-App Processes To Help You Find An Affordable Rental

Vancouver ranks fourth on the Rentals.ca National Rent Rankings for December 2019, with average 1-bedroom rent at $1,967 and average 2-bedroom rent at $3,058.

Ontario’s Toronto, Etobicoke, and Richmond Hill rank at the top of the list, with Toronto’s average 1-bedroom rent at $2,314 and average 2-bedroom rent at $2,966.

When you consider the fact that a downtrodden driveway here costs $108,000 and the most expensive mansion in Vancouver costs $58 million, however, these numbers likely don’t come as a shock.

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