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Monthly Rental Market Report April 2022

Average rental prices across Metro Vancouver have spiked once again, up yet another $52 this month. For April, the region’s average cost for an unfurnished, one-bedroom unit tops $1,900, and is now at $1,908 for the month. This sets yet another high for the area’s average rental rates, going as far back as when our monthly rent reports began in February 2019. Notably, Vancouver itself saw increases in price for both unfurnished and furnished rentals this month, as did nearly every other Metro Vancouver municipality we’re looking at here – with particularly large increases in West Vancouver and North Vancouver.