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Real Estate

A Two-Bedroom Apartment In Vancouver Costs Over $3,000 To Rent

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Photo: Ted McGrath / 604 Now Flickr Pool

The cost of living in Vancouver just keeps on going up. A new report by rentals.ca highlights how much it costs to rent a two-bedroom apartment in Vancouver.

The average monthly rent for a two-bedroom apartment in Vancouver costs a whopping $3,049. A one-bedroom apartment will cost you $2,028.

Photo: Rentals.ca

“Vancouver rent levels are rising quickly, but the data is lumpy because of fewer listings on Rentals.ca”, reads their website.

Burnaby came fifth on the list with a two-bedroom apartment costing $2,146 a month in rent, while a one-bedroom apartment costs $1,554.

When it comes to average rent per square foot for condo and apartment rentals, Toronto had the highest rents at $3.60 psf in July, with an average unit size of 750 sf.

Vancouver came in second at $3.40 psf, with a slightly lower unit size of 746 sf.

The report also highlighted how bleak the situation is for low-income renters.

“Affordability for low-income renters is getting worse, as 10th percentile rent inflation is very high.”

Back in July, the Canadian Centre for Policy Alternatives (CCPA) released a report that said you need to make $35.43 an hour to rent a two-bedroom apartment in Vancouver.

While Vancouver may be home to beautiful houses like this $58M, 1.3-acre mansion, there’s many who are still struggling to find affordable housing.


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