Vancouver Rental Rates Increased the Highest in Canada ~ Own Your Life Episode

Vancouver Rental Rates Increased the Highest in Canada ~ Own Your Life Episode

Vancouver rental rates increased the highest in all of Canada

In this episode of Own Your Life, we plan to cover the ridiculous increase in Vancouverโ€™s rental rates and how it compares to the rest of Canada.

๐Ÿ‘‰ Learn more, call Jessi at 604 716 6474, email or schedule a time to chat here:

If you recall, last year, everyone was freaking out, understandably, after rental rates went up 20-30%. According to, the average condo in Vancouver went up a whopping 24.3% in the last 12 months alone. The average 2-bedroom condo now sits at over $3,700. That is insane!

The average 1-bedroom condo now sits at almost $2,700. Any idea why there is such a skyrocket in pricing? Three factors come to mind:

#1 Lack of rental inventory

#2 Higher mortgage interest rates

#3 Record breaking immigration

A Canadian government immigration goal of around 465,000 to 500,000 for the next 3-5 years will likely cause rental rates to keep increasing. For those who donโ€™t know, these are record breaking (immigration) numbers.

Letโ€™s take a look at the top Canadian cities with the highest (rental ?) increases

#1 Vancouver at 24.3% (thatโ€™s the City of Vancouver itself)

#2 Toronto is right behind at 23.7%

#3 Burnaby almost tied at 23.6%

Thatโ€™s all for this episode, donโ€™t forget to pick up a copy of my best-selling book on Amazon, Rockstar Real Estate Investing if you havenโ€™t yet and we are here for your questions at any time.

Pick up my book here: Also, let us know if you are interested in becoming a realtor and joining our team at eXp. We have one heck of a program for new and experienced agents.


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