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One-bedroom apartments in Vancouver cost a whopping $2,200, report finds

The average two-bedroom in Vancouver costs a whopping $3,030 a month.
False-Creek-Vancouver
A view of downtown Vancouver. (via Shutterstock)

A recent reports find that Vancouver has the second highest average rent across Canada for one-bedroom apartments and the highest rent for two-bedrooms. 

Conducted by Padmapper.ca, the report analyzes rental data from hundreds of thousands of active listings across the country. From there, listings are aggregated on a monthly basis to calculate median asking rents for the top 24 most populous metropolitan areas.

For the month of December, Toronto remained the most expensive city in Canada with one-bedrooms down 2.1% to $2,300 a month; two-bedrooms cost $3,000 a month. Vancouver came next, with one-bedroom costs staying relatively the same at $2,200 a month. Two-bedrooms, however, saw a 5% drop to $3,030. 

Burnaby was the third most expensive market, with one-bedroom rents falling 2.9% to $1,700; two-bedrooms increased 0.9% to $2,350. Victoria followed in fourth, with one-bedroom rents increasing 2.6% to $1,560, while two-bedroom rents increasing 4.8% to $1,740. Report authors note that, "on a year over year basis, two bedroom rent here is up 15.2%."

The fifth most expensive market was Montreal, with one-bedroom rent decreasing 2% to $1,500 and two-bedrooms staying flat at $1,950.

Canadian-Rent-Report-122019jpgPhoto: Padmapper
The report is based on all data available in the month prior to publication. Any data that is reported does not include short term or Airbnb listings.