Community for the city of Vancouver, BC
Does anyone know if people are actually paying these rents or if these are the listings of desperate investors wanting a renter to cover their whole mortgage payment?
As an aside, shout-out to my landlord who's never once raised my rent in the 4 years I've lived here (thanks Chris!)
Yes, these are real rents, paid by real renters. I have rent from 13 years ago, plus about 10 years of annual 2% increases. The pandemic made my landlord forget about rent increases or something.
Well I'm asking because the report specifies that they only get the data from rental listings, so if a lot of landlords are setting rents to ridiculous levels expecting a tenant to pay it (and tenants aren't paying it), the report will still show an increase.
You’d have to dig into the report to check the methodology but anecdotally I know friends who have moved here recently and pay rents in this range.
Thanks. Damn then, looks like these prices will stick.
Go (Metro) Vancouver! Burnaby next door is #3, so we've got both Gold and Bronze!
Full time @ $15/hr isn't enough to pay the rent alone.
Yeah Toronto just hit 2800 the other week. Great stuff (:
Waiting for the surrounding areas to start densifying as well. Surrey, Richmond, and Coquitlam can do better.