If you're looking to rent a one-bedroom apartment in Vancouver right now, you need to know where to look in order to avoid getting hit by rising prices.
According to a September report by liv.rent, average rent prices for unfurnished, one-bedroom units in the area increased by $71 to a whopping $2,247 over the past month, a rise which it credits to the return of students and Canada's rising interest rates.
Luckily, the report also highlights some of the cheapest places to rent — and it shows that it is still possible to get a good deal.
Here are the most affordable areas to rent an unfurnished one-bedroom apartment in Metro Vancouver right now, ranked by average price in descending order.
Surprisingly, the average one-bedroom apartment to rent in Burnaby is cheaper to rent furnished than unfurnished.
A furnished one-bedroom pad is currently going for $1,946 per month, whereas an unfurnished place is averaging $2,108 per month, according to liv.rent's report.
Right now, the average unfurnished single-bedroom apartment in Coquitlam is $1,971 per month according to liv.rent, while you'll pay around $2,139 per month if you're looking for something furnished. A trip to IKEA it is!
Surrey is the second most affordable area of Metro Vancouver for a one-bedroom, unfurnished rental, according to the report.
The average one currently goes for $1,771 per month, which a furnished place will set you back $1,930 on average.
Langley has the cheapest average rent for both furnished and unfinished one-bedroom apartments in the entire Metro Vancouver area.
Currently, the average one-bedroom, unfurnished apartment goes for $1,724 per month and the same type of apartment furnished goes for $1,888.