- Unfurnished, one-bedroom average rent near transit is highest at Waterfront, Burrard & Vancouver City Centre stations
- Unfurnished, two-bedroom average rent near transit is highest at Waterfront, Burrard, Granville, Vancouver City Centre, Olympic Village & Broadway-City Hall stations
- The difference between the highest and lowest average rent near transit for unfurnished, 1 bedroom listings is $900
- The difference between the highest and lowest average rent near transit for unfurnished, 2 bedroom listings is $1,350
With Downtown rents consistently and considerably higher than in areas outside the city centre, many are taking a closer look at properties further away but with easy access to transit. In addition, the ongoing COVID-19 pandemic is also pushing people to areas with slightly less population density, making more affordable suburbs extremely attractive to renters.
Our assessment compared one and two-bedroom unfurnished rentals along Greater Vancouver’s transit lines revealing that some of the greatest value for renters is found at the end of long train rides.
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Rental Trends along transit lines
As seen by the graphs below, rental rates near city centres and colleges and universities like Downtown Vancouver, Metrotown, Lougheed Town Centre, and Langara are notably higher when compared to other stations.
On the Expo transit line which starts at Vancouver’s waterfront and ends at Surrey King George, the rents drop significantly as you head east out of the downtown core. There is a slight increase in rental rates at Lougheed Town Centre in Burnaby as it boasts many amenities and easy access to the Simon Fraser University campus.
Starting in East Vancouver, the Expo Line runs through Burnaby all the way to Coquitlam. Rental rates along this line are fairly steady with a high near the recently renovated Brentwood Town Centre.
The Brentwood neighbourhood has seen tremendous growth in recent years and features a master-planned, amenity-rich community that offers a variety of housing options for renters. It’s also only 15 minutes by train to Downtown which makes it excellent for commuters.
The Canada Line, built for the 2010 Vancouver Winter Olympic Games, runs from Downtown Vancouver’s Waterfront south to Richmond. Rental rates are highest near the Downtown stops (Waterfront, Vancouver City Centre, Yaletown) and gradually decrease as you move into Richmond with a peak at the Langara stop given its proximity to Langara College.
The Marine Drive stop is the last one on the Vancouver portion of this transit line and serves the new Marine Gateway neighbourhood which features a cluster of residential towers. This is a great area to look for reasonably priced rentals and offers easy access on the Canada Line to both Downtown and Richmond.
Vancouver Rentals near Transit Stops
The most expensive stations for unfurnished, 1 bedroom listings to live nearby, not surprisingly, are in Downtown Vancouver.
- The average difference between the most expensive stations (Downtown Vancouver – $2,200) and the least expensive (Gateway – $1,300) is $900.
- Rentals near the Vancouver City Centre, Waterfront, Burrard and Granville stops have an average 1 bedroom rent price of $2,200. The units in all 5 of these stops would be of comparable size and quality.
- Neighbouring Yaletown is only slightly cheaper at $2,150.
- The lowest rents in Vancouver can be found to the east by the Renfrew stop where a 1 bedroom costs $1,500. Considering this is only 15 minutes on a train to the downtown core, this neighbourhood offers renters good value.
The most expensive stations for unfurnished, 2 bedroom listings to live nearby are in Downtown Vancouver as well.
- The gap between the most expensive and least expensive stops is even wider at $1,350 (comparing Downtown Vancouver’s $2,850 and Gateway’s $1,300)
- Rentals in Downtown Vancouver near the Vancouver City Centre, Waterfront, Burrard and Granville stops as well as the Olympic Village and Broadway-City Hall stops have an average21 bedroom rent price of $2,850.
- Stations near Downtown Vancouver are only slightly cheaper at $2,800.
For a closer look at Vancouver’s latest rental rates, be sure to check out our monthly Rent Reports
Richmond Rentals near Transit Stops
Heading south on the Canada transit line, renters see some relief as South Vancouver becomes Richmond.
- Bridgeport Station in Richmond is just across the river from Vancouver and boasts an average rate of $1,825 – almost $400 less than Downtown Vancouver.
- Richmond Brighouse at the end of the line, but conveniently near Richmond Centre and other amenities, has the cheapest average rent in Richmond at $1,600. It is 25 minutes away by train from Downtown.
Click here to browse listings in Richmond on liv.rent.
Burnaby Rentals near Transit Stops
Neighbouring Vancouver to the east, Burnaby is well serviced by Expo and Millennium transit lines making it an attractive, affordable area for renters.
- The lowest Burnaby rents can be found near SFU at the Production Way-University stop where the average, 1 bedroom costs $1,520.
- Brentwood Town Centre, closer to Vancouver and recently revamped, has the most expensive average rent at $1,865.
Click here to browse listings in Burnaby on liv.rent.
New Westminster Rentals near transit stops
Historic New Westminster is a unique area offering easy access to the Expo line, river views and many historical buildings.
- New Westminster rents are highest near the Columbia and New Westminster stops at $1,555.
- Closer to the Royal Columbian Hospital, near the Sapperton stops, the average rent is $1,475.
Click here to browse listings in New Westminster on liv.rent.
Coquitlam Rentals near transit stops
The suburb of Coquitlam is northeast of Vancouver and is part of the Tri-cities region which also includes Port Coquitlam and Port Moody. The Millennium transit line extension services these suburbs.
- Rentals near the Moody Centre stop have the lowest rental rate in the area at $1,650.
- Inlet centre, the next stop east of Moody Centre, has the highest average rents at $1,780.
- Rentals near the Coquitlam Centre stop, located near Coquitlam Mall and the Coquitlam Town Centre, have an average cost of $1,720.
For liv.rent’s Coquitlam 1 bedroom, unfurnished rentals, click here.
Surrey Rentals near transit stops
Surrey is Canada’s fastest-growing city and covers a vast swath of land but thankfully, many of the 1 bedroom rentals are clustered around transit stations and are the most affordable in the Lower Mainland.
- The lowest rents are found at the Gateway stop – $1,300/month.
- Prices are slightly higher near the King George stop which, curiously, is further away at $1,450.
- Surrey Central stop is located next to SFU’s Surrey Campus and has affordable housing options for students.
Click here to browse listings in Surrey on liv.rent.
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