Map: Here are the cheapest neighbourhoods for rent in Metro Vancouver this March
March 9, 2023
If you are struggling to find affordable rent in Metro Vancouver, you are far from alone.
Rental prices across the region have dropped for the second month in a row but Canada’s top four priciest-rental markets are still located within it.
Vancouver is the country’s priciest market for rental housing, with units averaging $2,587. West Vancouver follows in second, with units averaging $2,584 in rent per month.
North Vancouver has Canada’s thirst-most-expensive market, with prices averaging $2,431. Burnaby follows in fourth, with monthly rental prices averaging $2,360.
And despite overall prices decreasing in the Lower Mainland, renters looking for accommodation in the City of Vancouver face steeper costs this month. Prices for one-, two-, and three-bedroom, unfurnished units in the City of Vancouver all increased this month over last.
The average price for an unfurnished one-bedroom unit in the city now sits at a staggering $2,587, while prices across the Lower Mainland average over $300 more, at $2,208.
The cheapest Metro Vancouver neighbourhoods for rental housing in March 2023
While renters don’t have many affordable options in the City of Vancouver, there are some cheaper options in other parts of the Lower Mainland. In Abbotsford, for example, an unfurnished, one-bedroom unit averaged $1,502 this month, making it the best market for locals looking to rent on a budget. Prices in the Fraser Valley city also saw a substantial drop this month over last, decreasing by $133 to $1,635.