Think rents in the City of Burnaby are bad?
You’re right, but you’re also wrong. They are far worse than you imagined and they are getting even worse.
That’s according to a new report. PadMapper have just released their latest Canadian National Rent Report that analyzed hundreds of thousands of listings last month to examine rent prices across the 24 largest cities in the country.
Burnaby ranked as the 3rd most expensive rental market in the nation last month with the prices of one and two bedrooms settling at medians of $1,750 and $2,330, respectively.
But it’s not just that those rents are high – it’s that they have skyrocketed with the price of one bedrooms is up 10.8% since this time last year, according to the report.
The full report can be found here: https://blog.padmapper.com/canadian-rent-trends
Read it and weep.