Metro Vancouver renters feeling highest financial crunch in the country

Metro Vancouverites, once again, are paying the highest rents in the country, according to new rental data. Kier Junos reports on how increasingly high rents affect who can build a future in the region.

Metro Vancouver has always been tough on renters thanks to low vacancy rates and a lot of competition, but the cost of renting continues to skyrocket.

The national report from shows Metro Vancouver has the highest average rents in the country.

Renting a single bedroom place in the region last Monday set locals back an average of $2,300 a month. That’s up 18 per cent from last year.

The year-over-year increase is almost 25 per cent for those renting a two-bedroom unit which goes for about $3,300 a month.

The report also found Vancouver had the highest average apartment rent (at about $2,750 per month) compared to other Canadian municipalities. Toronto follows with about $2,300 a month and Etobicoke at $2,175 per month.

Vancouver was one of a handful of municipalities that experienced significant month-over-month increases in average rent with 3.3 per cent monthly increase.


Nationally, the cheapest places to rent are Saskatoon, Red Deer and Regina.

The national average rent for a one-bedroom place is about $1,500 while two-bedroom unit is just under $2,000.

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