Metro Vancouver rent prices have increased overall in June but several neighbourhoods offer lower-priced options.
The average rent price for a newly listed, unfurnished, one-bedroom unit in Metro Vancouver increased by $10, to a new average of $2,377, according to the latest report from liv.rent.
Prices increased by only $10 from $2,367 in May and May's prices decreased slightly from April.
But Canada's top five priciest cities to rent in are located in Metro Vancouver.
West Vancouver is Canada's priciest city for housing rentals this June, with prices for newly listed, unfurnished one-bedroom units averaging $2,694. North Vancouver wasn't far behind, with prices for the same kinds of units averaging $2,682.
Vancouver rounded out the top three, with its units listed for an average of $2,587 in June, which is a $15 increase from $2,572 in May.
Where can I find cheaper rent in Metro Vancouver in June 2024?
Locals looking for neighbourhoods that cost less than the region's soaring average aren't entirely out of luck this month.
Earlier this year, all areas across the Lower Mainland showed an average of over $2,000 for newly listed unfurnished, one-bedroom units.
Renter-hopefuls can browse listings with some options available for under $2,000 in five neighbourhoods this month.
Surrey offers the most affordable options, with its Newton neighbourhood's newly listed unfurnished, one-bedroom units averaging $1,687. This price is $690 less than the regional average of $2,377 (see slide three).
Surrey's Fleetwood area also offers cheaper prices, with units averaging $1,873.
One-bedroom units in South Surrey and Guildford also averaged under $2,000, at $1,904 and $1,997, respectively.
Langley had the only other Metro Vancouver neighbourhood with rent under $2,000. The Willoughby area's units averaged $1,850 in June.
Richmond was the only city that saw prices increase for both unfurnished one-, two-, and three-bedroom units. The cheapest neighbourhood in June is Steveston, with prices averaging $2,141 for newly listed unfurnished, one-bedroom units.
Rentals in Burnaby, Canada's fourth-priciest city, averaged $2,495 in June. The cheapest neighbourhood in Burnaby is SFU/Burnaby Heights, with prices averaging $2,497.
In Vancouver, the Kerrisdale neighbourhood offers the least expensive rental units, averaging $2,178 (see slide two).
