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Pacific Canada  + Canada + Cross Border News  + Apartments  | 
Vancouver landlords are earning the highest apartment rents in Canada, says a news report.

Vancouver Home to Canada’s Highest Residential Rents

Vancouver landlords are earning the highest apartment rents in Canada, says a news report.

Authored by Urbanation, the report shows that Vancouver’s asking rent averaged $3,215 per month in October, although that figure was down 3.7% from October. Annual rent growth declined to 4.4% from 7.7% in October.

The figures apply to Vancouver proper, excluding suburbs. But Canada’s three most expensive small-and-medium-sized cities are Vancouver suburbs. North Vancouver, B.C., led the country as its monthly asking rate averaged $3,360 in October, while Coquitlam, B.C., ($3,116) and Richmond ($3,051) placed second and third respectively.

Richmond posted the second-highest annual increase, 29.1%, trailing the small Montreal suburb of Côte Saint-Luc, Que., which saw a 36.6% yearly rise.

Vancouver posted the highest average monthly one-bedroom ($2,872) and and two-bedroom rents ($3,77) in the country, while the adjacent suburb of Burnaby was second at $2,647 and $3,341, respectively.

The findings come after the B.C. government introduced legislation that restricts short-term accommodation rentals to boost long-term supply and reduce rents.


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About Monte Stewart

Monte Stewart serves as Content Director - Canada for Connect Commercial Real Estate. Based in Vancouver, British Columbia, Monte provides daily news coverage of major Canadian commercial real estate markets, including Vancouver, Toronto, Montreal and Calgary. He has written about the real estate sector for various media outlets and Avison Young since the early 2000s. In addition, he has covered sports, general news and business for several leading wire services and publications, including The Canadian Press, The Associated Press, The Calgary Herald, The Globe and Mail, Research Money, The Daily Oil Bulletin, Natural Gas World and The Toronto Star. Monte is active in his community as a youth basketball coach and raises funds for such charitable causes as Movember.

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