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$2,056 For A One-Bed Rental In Vancouver Considered “Affordable”

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Photo: Ted McGrath / 604 Now Flickr Pool

Are you able to pay $2,056 a month for a one-bed rental in Vancouver?

Well, according to the City of Vancouver, that’s actually “affordable”.

The city recently released an updated bulletin that outlines what affordable rent rates are for 2019.

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The maximum rent for studios on the East Side has been set at $1,607. On the West Side, the maximum rent allowed for studios is $1,768.

When it comes to one-bedroom rentals, rent is set at $1,869 on the East Side and $2,056 on the West Side.

Here’s the full rental breakdown for the East Side and West Side:

Photo: City of Vancouver

In 2018, the East Side rental rate for a one-bedroom unit was $1,730 and $1,903 on the West Side.

Projects creating new rental supply, “where 100% of the residential development is rental in tenure are eligible for a DCL (Development Cost Levy) waiver for the rental portion of the development”.

Here’s how a project can be eligible for the DCL Waiver System:

Photo: City of Vancouver

Apart from meeting the rental rates requirements, projects eligible for a full or partial waiver must not exceed the maximum unit size for all unit types outlined in the DCL By-laws.

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