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While it’s no secret that renting an apartment in Vancouver is expensive and highly competitive, a new report argues that the cost is reasonable when compared to those living in the world’s top financial centres.
 
The study, conducted by U.S.-based apartment listing service RentCafé, found affordability in Vancouver is reasonable when compared to other global financial cities, determined on the basis of competitiveness and transaction volume.
 
“Vancouver is the 20th most important financial centre in the world, but with [an average one-bedroom rent of] $1,400 per month [in U.S. dollars], it drops to number 24 on our list,” the company said.

As part of the study, RentCafé measured rents across the globe and translated them into U.S. dollars. The $1,400 USD per month listed for Vancouver translates to just under $1,900 CDN, which is consistent with the average rent found by Canadian listing service Padmapper.
 
Here’s Hayley Woodin from Business in Vancouver with more:
 
 
For more information, please see RentCafé’s study in its entirety by clicking here.

For all other inquiries related to the Lower Mainland’s multi-family market, please contact Marcus & Millichap’s Vancouver office to speak with one of our highly skilled commercial real estate advisors.
 
You can also view our current listings by visiting out Property Search Portal.
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