According to the latest Canadian Rental Report from Zumper, the median rental price has hit an all-time high in the city.

It says a one-bedroom rental in Vancouver will now set you back $2,700 per month — an increase of about 20.5 per cent year over year.

Zumper says compared to last month, rents in June have risen almost four per cent.

Lots more info in the Zumper report.

  • festus
    link
    fedilink
    English
    arrow-up
    2
    ·
    1 year ago

    Does anyone know if people are actually paying these rents or if these are the listings of desperate investors wanting a renter to cover their whole mortgage payment?

    As an aside, shout-out to my landlord who’s never once raised my rent in the 4 years I’ve lived here (thanks Chris!)

    • Boris Mann@news.cosocial.ca
      link
      fedilink
      English
      arrow-up
      1
      ·
      1 year ago

      Yes, these are real rents, paid by real renters. I have rent from 13 years ago, plus about 10 years of annual 2% increases. The pandemic made my landlord forget about rent increases or something.

      • festus
        link
        fedilink
        English
        arrow-up
        1
        ·
        1 year ago

        Well I’m asking because the report specifies that they only get the data from rental listings, so if a lot of landlords are setting rents to ridiculous levels expecting a tenant to pay it (and tenants aren’t paying it), the report will still show an increase.

        • Boris Mann@news.cosocial.ca
          link
          fedilink
          English
          arrow-up
          2
          ·
          1 year ago

          You’d have to dig into the report to check the methodology but anecdotally I know friends who have moved here recently and pay rents in this range.

          • festus
            link
            fedilink
            English
            arrow-up
            1
            ·
            1 year ago

            Thanks. Damn then, looks like these prices will stick.

  • zephyreks
    link
    fedilink
    English
    arrow-up
    1
    ·
    1 year ago

    Waiting for the surrounding areas to start densifying as well. Surrey, Richmond, and Coquitlam can do better.

  • jerkface
    link
    fedilink
    English
    arrow-up
    1
    ·
    edit-2
    1 year ago

    Full time @ $15/hr isn’t enough to pay the rent alone.