October data from liv.rent shows the average price to rent a newly listed, unfurnished one-bedroom in Metro Vancouver was $2,083, with the lowest-neighbourhood rents starting in Surrey.
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Metro Vancouver’s October rental market remained Canada’s priciest region, according to the latest liv.rent data, with the average rent for a newly listed, unfurnished one-bedroom coming in at $2,083.
The regional average was nearly flat from September, dropping slightly from $2,085, but several neighbourhoods still charged substantially more than the Metro Vancouver figure.
In West Vancouver, prices rose by $67, increasing from $2,465 in September to $2,532 in October. North Vancouver and the City of Vancouver also averaged above the regional average, at $2,452 and $2,329 respectively.
Despite that, several areas offered more affordable one-bedroom rents in October. Surrey’s Newton neighbourhood had the lowest average rent in the region at $1,449.
The next-cheapest option was in Abbotsford in the Fraser Valley, where rents averaged $1,453. In Surrey, multiple neighbourhoods also came in under $2,000, including Fleetwood at $1,596, Guildford at $1,630, Surrey City Centre at $1,714, and South Surrey at $1,881.
Outside Surrey, White Rock averaged $1,829, while Langley had two neighbourhoods under $2,000: Willowbrook at $1,699 and Willoughby at $1,831. Richmond had two under-$2,000 neighbourhoods as well, with Steveston averaging $1,878 and Brighouse/City Centre at $1,970.
In Burnaby, South Slope averaged $1,772 and SFU/Burnaby Heights averaged $1,807. In the Tri-Cities, the data showed no options below $2,000.
Renters in the City of Vancouver also had more lower-cost neighbourhood options than in September, with six neighbourhoods in October compared with three in September. Victoria-Sunset Fraserview was the cheapest at $1,717, followed by Killarney at $1,900 and Hastings-Sunrise at $1,964. Other options included Renfrew-Collingwood at $1,934 and Kerrisdale at $1,975, with Marpole just under $2,000 at $1,991.
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