vancouver, rental stats, infographic, real estate

Vancouver Rental Stats – June 2019 Snapshot

Let’s dive into this month’s rental stats for Vancouver by taking a closer look into average rent prices, renter demographics, and rent changes in Greater Vancouver based on June 2019’s figures. The most remarkable numbers this month point to an overall drop in rental rates across the Lower Mainland with Downtown Vancouver seeing a 6.42% drop and Surrey an almost 10% drop (9.82%).

Vancouver Rental Stats June 2019 - Average Rental Prices - Renter demographics - Renter Market

Vancouver Renter Demographics

In June 2019, again, more women were actively seeking a rental property than men – 56% and 45% respectively, and the large majority of rental seekers, 45%, fell into the 25-34 year old category.

Male vs. Female renters in Vancouver

Pet Friendly Vancouver Rental Stats

For all of you out there with furry friends, liv.rent continues to feature the largest percentage (33%) of pet friendly listings compared to 13% on other platforms (13%).

Pet friendly rentals in Vancouver - liv Rent Platform vs. Other Platforms

Furnished vs. Unfurnished Rent Averages

The average rent for an unfurnished one bedroom apartment in June dropped further from May’s low of $1,762 to $1,646, as did the average cost of a furnished apartment, from May’s $2,064 to $1,913.

Average Rental Prices in Vancouver - Unfurnished vs. FurnishedHighest vs. Cheapest Rent in Vancouver

Surrey continues to have the lowest average rent for a 1 bedroom unit at $1,423 (down slightly from May) compared to Downtown Vancouver’s average of $1,886 for a comparable home (down almost $200 from May).

Which area has the cheapest rent in Vancouver - Highest rent in Vancouver vs. Cheapest rent in Vancouver

Despite paying premium rates to live in Vancouver, tenants are saving in other ways, primarily on car-related expenses (vehicle, insurance, fuel and repairs). In addition, time is money, and living near where you work pays mental health dividends in terms of reduced commuting times and associated stress.

If, however, prices and space requirements push you further away from the downtown core, consider buying an electric vehicle this year. Thousands of dollars in rebates could be yours in 2019 if you make the switch, considerably reducing the cost of commuting. Check out our post outlining all of the benefits and incentives of a 2019 e-vehicle purchase.

Be sure to subscribe to our mailing list for all future updates on the Vancouver rental market!


For more rental stats, read our previous post, Vancouver Rental Stats – May 2019 Snapshot.

Follow us on Instagram for monthly rental stats in other major metropolitan cities.

 

Kristina Ikavalko

Kristina Ikavalko

Creative Content Creator for Liv, based in Vancouver. Fan of field hockey, food, fashion & politics.

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