Monthly Rental Market Report – November 2022

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November sees yet another month-to-month average price increase in Metro Vancouver. From October to November 2022, the region-wide average rent increased by $61 to a new average of $2,317 per month for an unfurnished, one-bedroom unit. This marks yet another yearly high and brings prices well above the $2,300 mark, with some cities posting even higher numbers this month. Though the busy summer renting season is now over and done with, we expect prices to remain comparatively high throughout the winter as interest and mortgage rates climb higher and vacancies remain low.