October's median asking price for a one bedroom apartment in Vancouver has climbed up to a whopping $2,120 a month.
PadMapper's latest Canadian rent report was released yesterday and it shows asking prices for Vancouver rental listings have gone up again, keeping the city in the top spot as the country's most expensive rental market.
A one bedroom apartment in Vancouver has taken a 5% jump from just last month and a 15.8% jump over last October. Meanwhile, a two bedroom apartment is about $3,200 a month, a 1.3% increase from September and a 14.3% increase from last October.
Among those in the top five most expensive cities are Toronto in second place, with $1,940 for one bedroom apartments and $2,430 for two bedroom and Barrie Ontario in third place with one bedroom apartments priced at a median of $1,210 and two bedroom at $1,560.
The PadMapper Canadian rent report looks at rental data from hundreds of thousands of active listings across Canada. Only listings for long term rental properties from rental management companies and smaller independent landlords are included.
The report does not include short term listings such as Airbnb, and calculates the median rent for all advertised listings - not occupied units - in each city for each month.