The average rent for a one-bedroom apartment in Vancouver dipped slightly in December, but the city still has Canada’s highest rent for that home type.
On average, Vancouverites are paying $1,820 for an apartment with one bedroom, which is down 1.1% compared with November. The reason for the drop isn’t entirely clear.
“It is unclear whether the falling one bedroom prices are due to the recently passed legislation or merely seasonality that we frequently see in the rental market as we get into the winter months,” PadMapper’s Greg Vanderhorst said.
Prices were up for two-bedroom apartments, however. Between November and December, the average rent for that home type increased 3.7% to $3,030.
Toronto had the country’s second-highest average rent for a one-bedroom apartment. Rent for that home type increased 4.9%, reaching $1,500. Two-bedroom units increased 4.4% to $1,900.
Victoria came in third place, as the average one-bedroom rent increased 4.3% to $1,220 and two-bedroom units increased 4.1% to $1,520.