(Black Press Media files)

(Black Press Media files)

B.C. suburbs could see increased demand for rental units as people work from home

Vancouver’s average monthly rent is the highest out of 35 cities across Canada

As more people work from home during the ongoing pandemic, renters are looking for cheaper units with more space – including homes further away from their place of work – a new national rent report suggests.

According to the report, released Wednesday (Oct. 14) and conducted by Bullpen Research and Consulting and Rentals.ca, B.C. is one of two provinces seeing year-over-year increases to average rental prices.

Tenants are looking for larger units, either by square footage or by number of bedrooms, the collected data suggests. People also appear to be avoiding the most expensive single-family properties and condominium apartments in major cities, such as downtown Vancouver.

“Many prospective tenants desire more space as they work from home,” said Matt Danison, CEO of Rentals.ca.

The report also suggests that employment rates are continuing to adjust to closer levels of what were seen before the height of the pandemic in March and April.

Canada added nearly 380,000 jobs in September, and analysts have estimated that 75 per cent of employees who lost their jobs during the beginning of COVID, have been rehired or found new work.

This could result in demand for rental units climbing upward again this winter, Danison said.

Rentals.ca also released a rank-list of 35 cities across Canada, including five in B.C., based on highest average monthly rent prices for one- and two-bedroom units.

Vancouver is second on the list out of the 35 cities for an average monthly rent for a one-bedroom home in September at $1,941. Renting a two-bedroom home averaged at $2,712.

Despite Vancouver rental prices dropping year-over-year at 1.6 per cent for apartments and condo rentals, the city still ranks highest for the average annual rent at $2,249, across Canada.

Surrey was ranked eighth for one-bedroom units, averaging at $1,724, and 17th for two-bedroom homes, at $1,826.

Burnaby followed Surrey, at ninth, for one-bedrooms at $1,689 but sixth for two-bedroom units at $2,200.

Victoria was ranked 11th for a one-bedroom home, renting each month at $1,616 and two-bedrooms at $2,021. Year-over-year, rent for a one-bedroom unit increased 9.6 per cent. Whereas, monthly rent for a two-bedroom was up 0.8 per cent.

New Westminster was ranked in 15th spot with one-bedrooms at $1,540, as well as ranked 10th with two-bedroom units averaging at $2,100.

Like us on Facebook and follow us on Twitter.

Want to support local journalism? Make a donation here.

Real estate

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Shawn Decaire does a blessing ceremony for the Hama?Elas Community Kitchen in Campbell River. Photo by Marc Kitteringham, Campbell River Mirror
Community Kitchen blessed by Laichwiltach First Nation

Hama?Elas Community Kitchen will provide safe place to eat for Campbell River’s vulnerable

A photo from 2017, of Nuchatlaht First Nation members outside court after filing a land title case in B.C. ( Submitted photo/Nuchatlaht First Nation).
Vancouver Island First Nation calls on B.C. to honour UNDRIP in historic title case

Nuchatlaht First Nation says Crown counsel continues to stall the case using the ‘distasteful’ argument that the Nation ‘abandoned’ their land

Environment Canada has issued a special weather statement forecasting windy weather Sunday and Monday. (News Bulletin file photo)
More windy weather on the way for Vancouver Island

Environment Canada issues special weather statement for Victoria, east coast of Island, north Island

West Vancouver Island’s Ehattesaht First Nation continues lock down after 9 active cases were reported today after a visitor tested positive last week. (Ehattesaht First Nation/Facebook)
Ehattesaht First Nation’s COVID-19 nightmare: nine active cases, a storm and a power outage

The Vancouver Island First Nation in a lockdown since the first case was reported last week

North Island mayors say their voices should be heard by DFO before final decisions are made about fish farms. (Black Press file photo)
Mayors asking to be let in on fish farm consultations

DFO evaluating 18 Discovery Island fish farms and transitioning from open-net farms

Mary Cox and Jack Plant dance in their pyjamas and slippers at the morning pyjama dance during the Rhythm Reelers’ 25 Annual Rally in the Valley Square Dance Festival in Chilliwack on June 4, 2011. Sunday, Nov. 29, 2020 is Square Dancing Day. (Jenna Hauck/ Chilliwack Progress file)
Unofficial holidays: Here’s what people are celebrating for the week of Nov. 29 to Dec. 5

Square Dancing Day, Disability Day and International Ninja Day are all coming up this week

Black Press Media and BraveFace have come together to support children facing life-threatening conditions. Net proceeds from these washable, reusable, three-layer masks go to Make-A-Wish Foundation BC & Yukon.
Put on a BraveFace: Help make children’s wishes come true

Black Press Media, BraveFace host mask fundraiser for Make-A-Wish Foundation

Is it time to start thinking about greener ways to package cannabis?

Packaging suppliers are still figuring eco-friendly and affordable packaging options that fit the mandates of Cannabis Regulations

A small crash in the water south of Courtenay Saturday afternoon. Two men had to be rescued, but reports indicate there were no serious injuries. Photo by Mike Chouinard
Small plane crash in Comox Valley waters Saturday afternoon

Two rescued from plane that had flipped in water; no serious injuries reported

114 Canadians were appointed Nov. 27 to the Order of Canada. (Governor General of Canada photo)
Indigenous actor, author, elder, leaders appointed to Order of Canada

Outstanding achievement, community dedication and service recognized

The Ahousaht First Nation confirmed its first case of COVID-19 on Nov. 26, 2020. (Westerly file photo)
Ahousaht First Nation on lockdown over COVID-19

“Emotions are high. The anxiety is high. We want our community to pull through.”

Screenshot of Pastor James Butler giving a sermon at Free Grace Baptist Church in Chilliwack on Nov. 22, 2020. The church has decided to continue in-person services despite a public health order banning worship services that was issued on Nov. 19, 2020. (YouTube)
2 Lower Mainland churches continue in-person services despite public health orders

Pastors say faith groups are unfairly targeted and that charter rights protect their decisions

Most Read