Monthly Rental Market Report – October 10, 2022

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October sees Metro Vancouver’s average rent prices continuing to rise, albeit just barely. As the dust settles following the busy summer renting season, we’re starting to see rent prices settle in once again, just above the $2,250 mark. Between September and October 2022, Metro Vancouver’s average rent climbed just $9, from $2,247 to $2,256 this month. With students now settled in their new rentals and the hyper-competitive summer months now drawing to a close, we should see prices hold steady or begin to decline throughout the remainder of the year. We’ll take a closer look at the trends driving this change throughout this report.