Have you struggled to find affordable rent in Metro Vancouver?
You are far from alone. This November and nation-wide, Vancouver remains the most expensive place in which to rent an apartment. For an unfurnished one-bedroom apartment, Vancouver renters must pay an average of a whopping $1,791; a furnished one costs an average of $2,000.
Liv.rent, a rental platform based in Vancouver, creates monthly reports for the Metro Vancouver region. They find several neighbourhoods offer comparably lower rental prices than the areas they are located in.
The company has compiled a list of the nine cheapest neighbourhoods to rent in across the region and breaks down how much the neighbourhoods cost in comparison to the cities they are located in.
The average rent for a city is often far higher than its cheapest neighbourhood. For example, a one-bedroom rental in Surrey will cost $1,375 and two-bedrooms will cost an average of $1,735. Guilford Town Centre neighbourhood's one-bedroom rentals are priced on average slightly lower, at $1,357, while the two-bedroom offers substantial savings, at $1,525.
Similarly, renting in a South Vancouver neighbourhood like Victoria-Fraserview is usually far cheaper than in the heart of downtown. In South Vancouver, the average rent for unfurnished rentals is $1,718 for a one-bedroom and $2,394 for a two-bedroom, In Victoria-Fraserview, a one-bedroom costs an average of $1,500 and $1,900 for a two-bedroom.
The average rent of Richmond’s unfurnished rentals is $1,762 for a one-bedroom and $2,172 for a two-bedroom, according to liv.rent’s rent report data from November 2021. In the city's South Arm neighbourhood, however, one-bedrooms price an average of $1,450 and two-bedrooms cost $1,700.
Here are the nine cheapest neighbourhoods to rent in Metro Vancouver:
- Guilford Town Centre, Surrey
- Victoria-Fraserview, Vancouver
- South Arm, Richmond
- Brow Of The Hill, New Westminster
- Sunset, Vancouver
- Central Coquitlam, Coquitlam
- Richmond Park, Burnaby
- Port Moody
- Lynnmour South, North Vancouver
Have a look at the cheapest neighbourhoods per Liv.rent.