Here's how much rent is expected to increase in Vancouver in 2020

A new report ranks Vancouver as the fourth most expensive rental market in the country

While Vancouver rents increased in 2019, a new report predicts that they will continue to climb in the new year. has released the average rent for Canadian properties in November 2019, and it found that Vancouver had the fourth most-expensive market. Toronto was ranked the most expensive, followed by Etobicoke, Ontario. Richmond Hill in Ontario placed third.

article continues below

According to the November data, Vancouver one-bedroom rentals have climbed one per cent to $1,967, while two-bedroom rentals have climbed 3.7 per cent to $3,058. 

In the chart below, looked at the average rent for all property types in Vancouver from October 2018 to November 2019. In addition, it includes the and Bullpen Consulting forecast for 2020.

The graph shows that the average rental rate for November 2018 was $2,353 for all property types listed on That rate increased to $2,507 for November 2019, with an increase of 6.5 per cent annually. As such, the overall average rent for 2019 in Vancouver was $2,351 per month (through 11 months).


In 2020, the forecast calls for average rent of $2,423, "with December 2020 rent at $2,585 per month, a three per cent annual increase (3.1 per cent from November 2019). This forecast is a moderation from the seven per cent annual growth forecasted by and Bullpen last year."

The report adds that new rental apartment completions are expected to rise in Vancouver in 2020. Coupled with relatively flat resale market conditions, this should result in less rent inflation.

Read the full report here.

Read the original article here.


Read Related Topics


NOTE: To post a comment you must have an account with at least one of the following services: Disqus, Facebook, Twitter, Google+ You may then login using your account credentials for that service. If you do not already have an account you may register a new profile with Disqus by first clicking the "Post as" button and then the link: "Don't have one? Register a new profile".

The Vancouver Courier welcomes your opinions and comments. We do not allow personal attacks, offensive language or unsubstantiated allegations. We reserve the right to edit comments for length, style, legality and taste and reproduce them in print, electronic or otherwise. For further information, please contact the editor or publisher, or see our Terms and Conditions.

comments powered by Disqus

Popular Real Estate

Popular Vancouver Courier