Canada's top five priciest cities to rent in are located in the Lower Mainland -- but not all of the neighbourhoods feature equivalent, sky-high costs.
The Metro Vancouver region has seen average rental prices climb since March, which was the last time the region saw a decline in soaring costs. In June, the average cost to rent a one-bedroom, unfurnished unit has risen by $12 to $2,330, according to the latest report from Liv.rent.
West Vancouver remains the most expensive city in which to rent in the Lower Mainland. The city has the most expensive unfurnished one-, two-, and three-bedroom units this June.
But there are some cities that feature somewhat more economical price tags.
The cheapest Metro Vancouver neighbourhoods for rental housing in June 2023
If you're looking to score an apartment for under $2,000 in Metro Vancouver, your options are few and far between. And if you want to find a spot in the city, you might not have many options.
But renters willing to travel just outside of the region have some affordable options in Abbotsford, where one-bedroom, unfurnished units averaged $1,592 this June.
Folks wanting to rent in Metro Vancouver have a couple of other affordable options. For example, Guildford units average only slightly more than those in Abbotsford, at $1,614. The neighbourhood offers significant savings over Surrey's typical prices, which average $1,918 city-wide.
A Langley neighbourhood, Willoughby, offers the third-best prices, with units averaging $1,904 this June.
Surrey City Centre rounded out the top five cheapest options, with units averaging $1,971.
Newton, Surrey was the sixth-best option, with units averaging $2,083. White Rock followed in sixth, with units averaging $2,097.
A couple of options in the City of Vancouver managed to sneak into the top ten. Renfrew-Collingwood's units averaged $2,237 while units in Marpole averaged $2,246 in June.
Top ten cheapest neighbourhoods
- Abbotsford $1,592
- Guildford, Surrey $1,614
- Willoughby, Langley $1,904
- Steveston, Richmond $1,958
- Surrey City Centre $1,971
- South Surrey $2,058
- Newton, Surrey $2,083
- White Rock $2,097
- Renfrew-Collingwood, Vancouver $2,237
- Marpole, Vancouver $2,246