4 per cent rent hike: Median price now $1,870 for one-bedroom
The Vancouver skyline is shown in an image taken from CTV's Chopper 9.
Published Thursday, January 19, 2017 3:31PM PST
The cost of renting an apartment in Vancouver is up four per cent, with renters asked to shell out a median price of $1,870 per month for a one-bedroom unit.
Data released by listings site PadMapper this week showed the city was once again the most expensive city for Canadian renters.
Based on listings for all vacant or available rental units in December 2016, the report showed the median price of a one-bedroom unit was up 3.9 per cent from the month before.
One-bedrooms were listed at a median rate of $1,870 last month, compared to $1,800 in November. The rate for a two-bedroom unit was up 4 per cent from the previous month, with a median listing price of $3,150.
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Vancouver rates were significantly higher than those in the second-place city, Toronto, where one-bedrooms were available at a median rate of $1,550. Two-bedroom units were listed at a median of $1,970 – nearly $1,200 less than the Vancouver median.
Three other B.C. cities were included in the 25 markets PadMapper looked at: Victoria, Kelowna and Abbotsford.
Victoria was the third most expensive city to rent in, with one-bedrooms listed 4.1 per cent higher than last month at $1,270. The price of two-bedrooms was down two per cent, at $1,490 for the month of December.
Kelowna came in ninth, where one-bedrooms went for a median of $980 and two-bedrooms were listed at $1,400. Abbotsford was in 22nd place, where residents pay a median of $790 for a one-bedroom and $930 for two.
The data did not include statistics from Canada's territories, where rental units are harder to find and rates are often higher than those further south.
Recent statistics from listings site RentSeeker.ca suggested that Whitehorse residents paid an average of $950 for a one-bedroom and $1,035 for a two-bedroom unit.
In Yellowknife, one-bedrooms went for an average of $1,401, and two-bedrooms were listed at $1,636.
No numbers were available for Iqaluit, but when CTV News tried to find an apartment available for rent, the lowest priced unit posted online at the time was a furnished one-bedroom for $2,250 a month.