How much will apartments for rent in Vancouver cost in July 2022?

Vancouver has passed its crown as the nation’s most expensive rental city to a close neighbor

Vancouver is no longer Canada’s most expensive city to rent an apartment, according to a new report. But the most expensive city in July is also not far away.

live. rent, a rental platform based in Vancouver, released its July 2022 Metro Vancouver Rent Report, noting that average rents in Metro Vancouver fell slightly as of June ($27).

According to the most recent data, the average cost of renting an unfurnished one-bedroom unit in the region is $2,029 for July; this price marks the first time in several months that total prices for the region have fallen month-over-month.

However, in the city of Vancouver, rents rose by an average of 7.7 percent in July. Despite this growth, BC’s largest city is no longer Canada’s most expensive city to rent a one-bedroom apartment in July.

North Vancouver is now the most expensive city in the country, with unfurnished one-bedroom units costing an average of $2,509 per month.

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Photo via Liv.rent

Metro Vancouver apartments for rent: Average rent by ad type

North Vancouver has taken the title of Metro Vancouver’s most expensive municipality for both furnished and unfurnished one-bedroom units. According to Liv.rent, an unfurnished one-bedroom apartment in the city costs an average of $2,509 in July, while a furnished apartment costs $3,557.

The city of Vancouver saw prices for unfurnished one-bedroom apartments rise this month from last month, with costs rising to $2,430 in July. West Vancouver isn’t far behind, with one-bedroom units costing an average of $2,360 this month.

Burnaby was the fourth most expensive city to rent in July, with one-bedroom apartments costing an average of $1,997. Richmond was only slightly less expensive, with unfurnished one-bedroom rental properties averaging $1,967.

Langley has replaced Surrey as the cheapest place to rent unfurnished one-bedroom units for an average of $1,622 a month.

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Photo via Liv.rent

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Photo via Liv.rent

Renting Vancouver: Prices by Neighborhood

In July, Fairview took the title of Vancouver’s most expensive neighborhood, averaging $2,618 per month for an unfurnished one-bedroom unit. Downtown Vancouver is only slightly cheaper, though, with prices averaging $2,598 this month.

The third most expensive neighborhood to rent a one-bedroom apartment in July was Kitsilano, with apartments averaging $2,473. Shaughnessy had the fourth most expensive rental, averaging $2,449.

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Photo via Liv.rent

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