That's gotta hurt.
A new rental report shows just how expensive rental prices in Vancouver really are. The report by Rentals.ca shows that the average rent for condos and apartments in Vancouver as of May 2021 is a whopping $2,315 per month.
If you're paying that rate for an entire year, you're looking at an overall cost of $27,780.
So, if you're making a salary of $50,000 annually, you'll be throwing over half of your income into your rent payments.
"Vancouver experienced the largest month-over-month increase among the major municipalities with a monthly increase of 5.4% in average rent to $2,315, the highest in the country," said the report.
In comparison, the average rent price in Toronto, the place with the second-highest average, is $2,027.