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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 0.9%, as reported in October 2017 [source: CMHC].
  • The average rent for a vacant two bedroom in the city of Vancouver was around $2100, as of 2017 [source: CMHC]. Thus, sharing an 'average' two bedroom apartment in Vancouver with a roommate you're looking at over $1000 each.
  • Landlords in BC can legally raise the rent for existing tenants 4% in 2018, and 2.5% in 2019

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 2017. Average rents shown have been rounded slightly from the official figures.

Vancouver

  • Bachelor Apartment @ $1100
  • 1 Bedroom Apartment @ $1300
  • 2 Bedroom Apartment @ $1850
  • 3+ Bedroom Apartment @ $2300

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 @ $925
  • 1 Bedroom Apartment @ $1100
  • 2 Bedroom Apartment @ $1380
  • 3+ Bedroom Apartment @ $1600

North Vancouver

  • Bachelor Apartment @ $1000
  • 1 Bedroom Apartment @ $1200
  • 2 Bedroom Apartment @ $1600
  • 3+ Bedroom Apartment @ $2000

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 @ $1200
  • 1 Bedroom Apartment @ $1500
  • 2 Bedroom Apartment @ $2400
  • 3+ Bedroom Apartment @ $3400

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

New Westminster

  • Bachelor Apartment @ $825
  • 1 Bedroom Apartment @ $1000
  • 2 Bedroom Apartment @ $1400
  • 3+ Bedroom Apartment @ $1630

Surrey

  • Bachelor Apartment @ $835
  • 1 Bedroom Apartment @ $910
  • 2 Bedroom Apartment @ $1080
  • 3+ Bedroom Apartment @ $1200

 

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