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.

Here's How Much Money You Need To Make To Afford Rent Payments In Vancouver
Volodymyr Kyrylyuk | Dreamstime
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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.

vancouver rent
VancouverCanadaReal EstateReal Estate
  • Britanny Burr
    Britanny Burr was a Staff Writer at Narcity Canada, who drove growth within Narcity's Western coverage and readership. Having lived between her hometown, Canmore, Alberta and Calgary, Montreal, Vancouver, and NYC over the past 10 years, she is obsessed with finding the best local hot spots. She holds a B.A. in English and has over six years of professional writing experience as Head Writer and Editor for YUL.Buzz in Montreal, and Creative Copywriter at JAKT in NYC. News by day, poetry by night — the written word is Britanny's nearest and dearest.

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