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Vancouver Rental Stats

If you're looking to rent in Vancouver and area, you may want to know what you're in for. Below are various stats regarding the rental market in Vancouver and surrounding cities.

Quick Stats

A few quick stats regarding the Vancouver apartment rental market.

  • The vacancy rate for the city of Vancouver was 0.6%, as reported in the Fall of 2015 [source: CMHC].
  • The average rent for a two bedroom in the city of Vancouver was around $1650, as of October 2015 [source: CMHC]. Thus, sharing an 'average' two bedroom apartment in Vancouver with a roommate you're looking at around $825 each.
  • Landlords in BC can legally raise the rent for existing tenants 2.9% in 2016.

Apartment Rental Rates in Vancouver and Area

The following are the average monthly rents for apartments in Vancouver and surrounding cities. Stats are provided by CMHC as of the October of 2015. Average rents shown have been rounded slightly from the official figures.

Vancouver

  • Bachelor Apartment @ $980
  • 1 Bedroom Apartment @ $1175
  • 2 Bedroom Apartment @ $1640
  • 3+ Bedroom Apartment @ $2070

Rents are higher than average in the West End, Stanley Park, English Bay, Downtown Vancouver, and around UBC. Rents are lower than average in East and South East Vancouver.

Burnaby

  • Bachelor Apartment @ $760
  • 1 Bedroom Apartment @ $890
  • 2 Bedroom Apartment @ $1120
  • 3+ Bedroom Apartment @ $1300

Rents are lower than average in South East Burnaby.

Richmond

  • Bachelor Apartment @ $805
  • 1 Bedroom Apartment @ $960
  • 2 Bedroom Apartment @ $1220
  • 3+ Bedroom Apartment @ $1430

North Vancouver

  • Bachelor Apartment @ $920
  • 1 Bedroom Apartment @ $1085
  • 2 Bedroom Apartment @ $1370
  • 3+ Bedroom Apartment @ $1570

Figures above are for the City of North Vancouver. The surrounding District Municipality of North Vancouver has slightly higher rental rates for each apartment type.

West Vancouver

  • Bachelor Apartment @ $1115
  • 1 Bedroom Apartment @ $1400
  • 2 Bedroom Apartment @ $2170
  • 3+ Bedroom Apartment @ $3485

West Vancouver is the most expensive place to rent in the Vancouver area.

New Westminster

  • Bachelor Apartment @ $715
  • 1 Bedroom Apartment @ $860
  • 2 Bedroom Apartment @ $1200
  • 3+ Bedroom Apartment @ $1480

Surrey

  • Bachelor Apartment @ $670
  • 1 Bedroom Apartment @ $775
  • 2 Bedroom Apartment @ $955
  • 3+ Bedroom Apartment @ $1100

 

 

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