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

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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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