(Black Press Media files)

Vancouver, Victoria, Kelowna home to Canada’s most expensive rentals: report

According to PadMapper, units in larger B.C. cities cost $1,300 to more than $3,000

Spending more than $1,000 a month on a one bedroom has become a reality for most renters in B.C.’s busiest cities, as rental rates continued to rise through 2018.

According to PadMapper’s Canadian rent report, a one bedroom in Vancouver, Burnaby, Victoria and Kelowna costs between $1,300 and $2,200 on average. Meanwhile, a two-bedroom costs anywhere between $1,600 and $3,200.

PadMapper’s report, released Tuesday, analyzes rental data from thousands of active listings across the country to calculate average asking rents for the top 24 most populous metro cities. The data does not include short term or Airbnb listings.

Toronto topped the list, where most renters can expect to pay about $2,200 for a one bedroom, and $2,850 for a two bedroom.

Rent in Vancouver for a one-bedroom went up 6.5 per cent from 2017 to last year, according to the data, and less than one per cent for a two bedroom.

READ MORE: Vacancies remain low as rents rise in B.C.

READ MORE: Kelowna ranked 7th most expensive rental market in Canada

Victoria saw the largest uptick year-over-year for both kinds of units. One bedroom units reached $1,390 – a 16 per cent increase from 2017 – and two bedrooms totalled an average of $1,590, which was a five per cent increase.

Abbotsford, the only city in B.C. included in the report with an average rental rate of just under $1,000, also saw double-digit increases to prices.

A one bedroom in the Fraser Valley city averaged $950 in 2018 – up 12 per cent from the year before. A two bedroom was priced at $1,080, which was a 12.5 per cent increase.

The average prices follow a November report by the Canadian Mortgage and Housing Corporation, which found that B.C.’s rental vacancy rate sat at 1.4 per cent last year.

The corporation said B.C. had the highest average rent of $1,387 for a two-bedroom, compared to $1,266 in Toronto and $1,215 in Alberta.


@ashwadhwani
ashley.wadhwani@bpdigital.ca

Like us on Facebook and follow us on Twitter.

Just Posted

North Island Eagles minor rep ockey organization hand out year-end awards in Port McNeill

It was quite the season and then some for minor rep hockey here in the North Island.

North Island resident to campaign on climate, economy for Liberal Party seat in Ottawa

Peter Schwarzhoff joins race for the second time in North Island-Powell River riding

Press release: Port Alice Health Centre service model announced

“a sustainable and dependable model of health care service delivery in Port Alice is a priority”

First annual Pride Day coming to Port Hardy in August

Pride contributes to a more inclusive and safe community for LGBTQ+ identifying individuals.

Blaney plan helps seniors late with taxes

Simple solution to important issue: North Island-Powell River MP

‘Teams that win are tight’: B.C. Lions search for chemistry at training camp

The Lions added more than 50 new faces over the off-season, from coaching staff to key players

Growing wildfire prompts evacuation of High Level, Alta.

Chuckegg Creek fire has been burning for several day, but grew substantially Sunday

Top women’s hockey player Natalie Spooner coming to B.C.

Natalie Spooner special guest at annual Grindstone charity weekend in Kelowna

Take-home drug testing kits latest pilot to help curb B.C.’s overdose crisis

Researchers look to see if fentanyl testing could be a useful tool for those who use drugs alone

Facebook takes down anti-vaxxer page that used image of late Canadian girl

Facebook said that the social media company has disabled the anti-vaccination page

Search crews rescue kids, 6 and 7, stranded overnight on Coquitlam mountain

Father and two youngsters fall down a steep, treacherous cliff while hiking Burke Mountain

Raptors beat Bucks 118-112 in 2OT thriller

Leonard has 36 points as Toronto cuts Milwaukee’s series lead to 2-1

Rescue crews suspend search for Okanagan kayaker missing for three days

71-year-old Zygmunt Janiewicz was reported missing Friday

B.C. VIEWS: Reality of our plastic recycling routine exposed

Turns out dear old China wasn’t doing such a great job

Most Read