More Jobs, Higher Retail Sales, and Great Commercial Real Estate Opportunities in Vancouver, BC
Real Estate News for Vancouver
Average Vancouver One-Bedroom Rent Reaches All-Time High
Tags:
(Posted on Feb 17, 2017 at 02:51PM by Michelle Bogle)
According to a February 2017 Canadian Rent Report by the apartment website PadMapper, the average rent for a one-bedroom apartment in Vancouver, B.C. remains the highest in the country, plus it increased another 1.6% in February, reaching the highest level on record.
Â
On average, tenants pay $1,900 for a one-bedroom unit in Vancouver, beating out Toronto, which has an average price of $1,620 for this home type.
Â
Prices for two-bedroom apartments in Vancouver fell 0.6% in the month to $3,130. The city’s rent in this category remains in a class of its own in terms of high cost. The next most expensive city for this home type is Toronto at $2,060, making Vancouver a staggering 52% more expensive.Â
Â
Elsewhere in B.C., one-bedroom apartments cost 1.6% more in Victoria (as of February), with an average rent of $1,290. On the other hand, two-bedroom rents fell 1.3% to $1,470.
Â
To view the February 2017 Canadian Rent Report, please click here.
Â
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.
Â
You can also view our current listings by visiting out Property Search Portal.
Powered by Webstager