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Poll: Huge gap between new rents and what Vancouverites think is "fair"

A small fraction think the average rent for a new listing in Vancouver is fair.
The difference between what locals think is fair for rent and what the average is for an apartment entering the market is around $900.

It seems most people in Vancouver think the average rent for people living in Vancouver is unfair.

In a poll run earlier this month by V.I.A. the vast majority of readers suggested that the fair rent for an unfurnished one-bedroom apartment in the city should be below $1,499. Of readers, 59 per cent of locals and 62 per cent of all readers figured that $1,500 should be the bar for a newly listed unfurnished one-bedroom.

In reality, the average, according to rental platform Liv.Rent, in Metro Vancouver is $2,367. For Vancouver it's $2,572. That's more than $1,000 per month between the average and what readers think is far, or more than $12,000 per year.

As one might expect, the next most popular choices are each the next lowest.

More than 87 per cent or respondents think rent for a single bedroom apartment with no furniture should be below $2,000. Only a handful of the cheapest neighbourhoods across the metro region fit into that.

On the flipside, fewer than one in eight people thought rent should be over $2,000. And, while the average rent in the City of Vancouver is more than $2,500, around 4.5 per cent of people polled thought prices above $2,500 is fair.

That's fewer than one in 20.

Vancouver Is Awesome polled 1410  readers and asked the question: What do you think a fair amount for an unfurnished one-bedroom apartment in Vancouver should be?

The poll ran from 5/5/2024 to 5/18/2024. Of the 1410 votes, we can determine that 600 are from within the community. The full results are as follows:

Below $1,499 59.17% local, 61.91% total    
$1,500 to $1,999 28.67% local, 26.81% total    
$2,000 to $2,499 7.67% local, 6.60% total    
$2,500 to $2,999 1.67% local, 1.56% total    
$3,000 to $3,499 0.83% local, 0.64% total    
$3,500+ 2.00% local, 2.48% total    
  Local   Total

Results are based on an online study of adult Vancouver Is Awesome readers that are located in Vancouver. The margin of error - which measures sample variability - is +/- 2.61%, 19 times out of 20.

Vancouver Is Awesome uses a variety of techniques to capture data, detect and prevent fraudulent votes, detect and prevent robots, and filter out non-local and duplicate votes.