Monthly Rental Market Report- February 2023

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Metro Vancouver is an area with a wide range of rental rates. For example, West Vancouver had the highest prices for one, two and three-bedroom homes, both furnished and unfurnished, in consecutive months, while North Vancouver had the highest prices for furnished units. On the other hand, Coquitlam had the least expensive one-bedroom furnished units this February.

For six consecutive months, the cities with the highest rental prices in Canada have all been located within Metro Vancouver. Among these cities, West Vancouver has consistently had the steepest rent rates for unfurnished one-bedroom units with an average cost of $2,533 each month. This February, Vancouver is second on the list of costly rents with an average one-bedroom unit costing $2,525 per month.