Rent Prices Went Down In These BC Cities & One Had The Biggest Drop In All Of Canada
Time for a move?
Rent prices in B.C. are actually going down in a couple of cities, so it might be time for a move if you want to save some extra cash — looking at you, Vancouver renters.
One of the cities had the biggest decrease in median rent price for a one-bedroom apartment in all of Canada.
People love living in B.C. for so many reasons, but the high price tag can be a huge drawback. It might just be about looking in the right places though, where you can still enjoy that B.C. life, but without the cost.
While the province is known for having one of the highest costs of rent in the country, it seems like some areas have become a little more affordable.
According to Zumper's February 2022 Canadian Rent Report, rent for a one-bedroom apartment went down in January compared to December in two different cities in the province — Victoria and Abbotsford.
Victoria is still the third priciest city overall, but the median cost of a single bedroom dropped month-over-month by 4.9%, to $1,750. The decrease was the largest in Canada!
The second city where rent dropped was Abbotsford, declining by 2.1% month-over-month with a one-bedroom rent costing around $1,390.
That might seem high to anyone outside of B.C., but comparing it to Vancouver's median rent costing $2,200 for a one-bedroom, it's not too bad. This rent price actually puts the city at the top of the list for the priciest rent in the country.
It's not very lonely at the top at least, because Toronto is right beside Vancouver, taking second place. Although Toronto did actually see a 0.5% decrease, the rent price is still around $1,840.