What can $1800 in rent get you in Metro Vancouver? [UPDATED]
Vancouver Rental Market 2020
As with most industries, the outbreak of COVID-19 brought big changes to the rental market in Vancouver. As reported in the April Rent Report, the average rent price dropped 3.67% from March. While rental prices are starting to rise, the average rent price in August is still 6.95% lower than December 2019.
- Average Rent in Vancouver
- Find A Place To Rent For $1,800 Or Less Near You
- Renting In Metro Vancouver
Average Rent in Vancouver
Greater Vancouver’s average monthly rent for an unfurnished, 1 bedroom generally hovers around the $1,800 mark, however, in July it was $1,657. That being said, this is an average and the same property in downtown Vancouver costs $2,024 in contrast to a comparable unit in Surrey at $1,341.
Here is a quick breakdown of average rent by area:
Find A Place To Rent For $1,800 Or Less Near You
Downtown Vancouver continues to attract people in droves thanks to its vibrant economy, restaurant and nightlife scene as well as its proximity to parks, theatres, and beaches. There is no doubt that living in the city has its perks, however, you will pay for them dearly. Downtown Vancouver has some of the highest rents in the country.
For a complete list of Vancouver rentals, click here.
RECOMMENDED: West End Neighbourhood Guide
Easily accessed on the Canada Line (Langara & 49th and Marine Drive Stations) as well as Translink bus routes, South Vancouver is an attractive, more affordable alternative to downtown living. Your money will go further, buying you more space and typically newer options. For the price of a downtown 1 bedroom or studio apartment, you can find a number of two-bedroom rental units in this area.
RECOMMENDED: Marine and Cambie Hub Neighbourhood Guide
Further south on the Canada Line lies the bustling, fast-growing suburb of Richmond. Multi-cultural, home to many company head offices and Vancouver International Airport, Richmond is a suburb worth considering in your search for a Metro Vancouver rental.
For all current listings for rent in Richmond, click here.
Burnaby lies just east of Vancouver and is well serviced by Translink bus lines and the Skytrain. Home to countless parks, community centres and Simon Fraser University, Burnaby may offer you everything you need and save you money.
For the complete list of Burnaby rentals, check out our Burnaby listing page here.
Surrey is Metro Vancouver’s fastest-growing city and offers a variety of rental options at affordable prices. Your dollar will go furthest here as Surrey consistently boasts the lowest rents in the region.
For more Surrey listings, click here.
RECOMMENDED: Average Near Transit in Metro Vancouver
Historic New Westminster is a 30 minute Skytrain ride from downtown Vancouver and home to a revitalized downtown core that features a variety of new rental options for home seekers. Located on the banks of the Fraser River, New Westminster rental rates are considerably lower than those in nearer suburbs but easy access downtown makes it an attractive location.
For a complete listing of available rentals in New Westminster, click here.
RECOMMENDED: New Westminster Neighbourhood Guide
North Vancouver is the perfect suburb for the outdoor enthusiast. Close to the North Shore mountains, you will have access to world-class skiing, hiking and mountain biking. Some of the best schools are on the North Shore so it is a great place to raise a family as well.
For a complete list of North Vancouver listings, click here.
RECOMMENDED: Neighbourhood Guide: North Vancouver
Renting In Metro Vancouver
So, if you are flexible and willing to live further from the downtown core, there is no question your $1800 will go further. You will gain a little extra elbow room, slightly better amenities and/or more contemporary finishes by moving further afield. You just need to ask yourself some tough questions about what is most important to you when seeking a rental home!
To help you decide which part of Metro Vancouver to make your home, check out our post – Choosing the Right City for You.
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