Monthly Rental Market Report July 2022

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July brings a welcome cool-off period for Metro Vancouver’s rent prices, with a slight drop from $2,056 in June to a new average of $2029. This $27 decrease comes after months of steady increases, signaling that the region’s rental prices may have peaked — or at least temporarily settled in at these new highs. Vancouver itself saw moderate increases in rental prices, with more significant shifts in a variety of Metro Vancouver cities. We’ll cover these changes and potential catalysts as we dive deeper into this month’s data, statistics, and trends.