Vancouver remains the most expensive city in Canada when it comes to rent, but Burnaby is not far behind.
According to the latest report from Rentals.ca, Burnaby is still among the three most expensive cities in Canada when it comes to renting a property.
Rent for a one-bedroom apartment in the city reached an average price of $2,566 in July, up 0.9 percent from June, while the average price for a two-bedroom apartment was $3,184, neither an increase nor a decrease from the previous month.
The average rent for a one-room apartment has increased by one percent compared to the same period last year, while the rent for a two-room apartment has even fallen by 5.6 percent.
According to Rentals.ca, Vancouver is still the most expensive city in Canada, with an average price of $2,761 for a one-bedroom apartment and $3,666 for a two-bedroom apartment.
BC is still the most expensive province in the country to rent, with a studio costing an average of $1,988 in July, a one-bedroom apartment costing $2,304, a two-bedroom apartment costing $2,902 and a three-bedroom apartment costing $3,311, for an overall average of $2,570.
“In our data, three of the provinces covered had the highest average rents, including Alberta, British Columbia and Quebec, all of which hit record highs in July,” the report said.
“Vancouver maintained its position as the most expensive city for roommate rent with an average cost of $1,476, representing an annual increase of 1.4%.”
