Hint: It’s not cheap.
If you’re looking to take a break from skyrocketing rental prices in Vancouver by moving to another neighborhood, you may be out of luck.
While prices vary across the city, most neighborhoods in Vancouver cost significantly more than their regional counterparts.
Zumper, an online rental company, released average rental prices for Vancouver in May 2022, which shows price increases for almost every category. To compile the data, the company scans its active inventory to find rental price trends.
Prices have risen sharply over the past month, with one-bedroom apartments rising 3% to $2,275 and two-bedroom apartments rising 6% to $3,300. The studios, however, remained stable.
Three-bedroom apartments cost an average of $4,287 in May, which is a staggering 34% year-over-year increase. Those looking for a four-bedroom rental face an average of $5,995, which is a staggering 67% increase.
Since 2021, one-bedroom apartments have seen an increase of 17% and two-bedroom units have increased by 22%.
Here are the average rents for neighborhoods in Vancouver.
|Kensington Cedar Cottage||$2,000|
|Riley Park – Little Mountain||$2,360|
|West Point Gray||$2,040|
|University endowment lands||$2,218|