{"id":21787,"date":"2020-08-03T11:00:00","date_gmt":"2020-08-03T18:00:00","guid":{"rendered":"https:\/\/liv.rent\/blog\/?p=21787"},"modified":"2021-03-31T14:27:27","modified_gmt":"2021-03-31T21:27:27","slug":"august-2020-vancouver-rent-report","status":"publish","type":"post","link":"https:\/\/liv.rent\/blog\/rent-reports\/august-2020-vancouver-rent-report\/","title":{"rendered":"August 2020 Vancouver Rent Report"},"content":{"rendered":"\n

Rental Trends in August 2020 <\/h2>\n\n\n\n

This month, we take a closer look at the reported average rent prices across the Greater Vancouver Area. Based on data gathered from numerous listing websites and our own liv.rent platform, our rent reports seek to identify and share key market data and trends, to help inform and educate landlords and tenants alike. <\/p>\n\n\n\n

Jump to the following Rent Report sections: <\/p>\n\n\n\n

Average Rent <\/a><\/p>\n

Month-to-month Rent Change<\/a><\/p>\n

Most Popular Listing Type<\/a> (NEW)<\/p>\n

Renter Demographics<\/a><\/p>\n

Pet-Friendly Rentals<\/a><\/p>\n

Unfurnished Vs. Furnished Averages<\/a><\/p>\n

Neighbourhood Breakdown<\/a><\/p>\n

Rent Per Square Foot<\/a><\/p>\n

Average Rent in Canada<\/a><\/p>\n

Downloadable Resources<\/a><\/p><\/div>\n\n\n\n

Complete August 2020 Vancouver Rent Report: Download Here<\/a><\/strong><\/p>\n\n\n\n

Average Rent across Greater Vancouver<\/h2>\n\n\n\n

Here we see the average rent of a 1 bedroom, unfurnished apartment over the 6-month, March-August time frame. The average rent for unfurnished, 1 bedroom apartments amidst the COVID-19 pandemic continued to see a slight uptick which is an improvement on the pandemic-induced downward pressure experienced in June<\/a>.<\/p>\n\n\n\n

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We encourage you to subscribe<\/a> to our mailing list for updates on the Vancouver rental market and for our continued reporting on the impact of COVID-19 on the rental industry.<\/p>\n\n\n\n

>> RECOMMENDED: Average Rents near Transit in Great Vancouver<\/a><\/strong><\/p>\n\n\n\n

Month-to-Month Rent Change<\/h2>\n\n\n\n

Below we show the percentage change in average rent from July to August. The biggest decrease was in South Vancouver where unfurnished 1 bedroom rentals dropped by 4.36%, while West Vancouver saw an increase of 27.48% for furnished rentals. <\/p>\n\n\n\n

In previous months during the pandemic, the largest decreases, predictably, were seen in the furnished rental market which is typically shorter-term rentals for business travelers, international students, or temporary visitors. This month we see a recovery. Other reasons for this jump could be because people are needing these rentals to quarantine, they are visiting the Greater Vancouver Area from other parts of Canada (the Canada\/US border remains closed), or their immigration process has started up again after a pandemic-related pause.<\/p>\n\n\n\n

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Most Popular Listing Type<\/h2>\n\n\n\n

This month we provide a breakdown of most popular listing types searched for on liv.rent<\/a>. As is typically the case, 1 bedroom units are most in demand with almost 37% of liv.rent users looking for this type of accommodation while close to 29% of users were looking for 2 bedroom units.<\/p>\n\n\n\n

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Renter Demographics<\/h2>\n\n\n\n

In August, the vast majority of rental seekers, 45%, fell into the 25-34 yr old category while 29% were in the under 25 categories.<\/p>\n\n\n\n

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Pet-Friendly Rentals<\/h2>\n\n\n\n

liv.rent<\/a> continues to host more pet-friendly listings than any other platform with 25% of listings willing to house pets.<\/p>\n\n\n\n

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