Monthly Rental Market Report – May 2023

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Unfurnished one-bedroom units across the Metro Vancouver region have seen a rise in rent prices, with the exception of Burnaby & Coquitlam. The average rent price in May was $2,318, which is $55 higher than the average price in April of this year. West Vancouver boasted the highest average rental rates for furnished one-, two- and three-bedroom homes, while Vancouver had the most expensive unfurnished two- and three-bedroom homes this May.

Chart outlining the rental market in Metro Vancouver for the month of May 2023.