Here's How Much Money You Need To Make To Afford Rent Payments In Vancouver
Vancouver is still the most expensive place to rent in Canada.
A new report sent to Narcity from liv.rent shows just how much you need to make ends meet when renting an apartment in Vancouver.
According to the June report by liv.rent, Vancouverites are paying an average of $1,842 per month for furnished one-bedroom apartments and $1,704 for unfurnished apartments of the same size.
At that price point, Vancouver currently has the most expensive rent in Canada, sitting above Toronto by only a few dollars.
The data show that people in Vancouver are spending around 30% of their income on their monthly rent payments. In that case, if you want to live in Downtown Vancouver, where the average price of a one-bedroom rental is $2,323, you need to earn over $80,000 annually.
So, if you're able to find a place that costs around $1,000 per month, you may be able to get by on a salary of $40,000 without spending the majority of your paycheque on that single bill.