Metro Vancouverites can still find low-cost rent options despite residing in Canada's priciest market.
Four out of five of Canada's most expensive cities in which to rent right now are located in Metro Vancouver. West Vancouver tops the list, with the average price to rent a newly listed, one-bedroom unfurnished unit averaging $2,771 monthly, according to liv.rent's January 2025 rent report.
North Vancouver follows in second, with prices averaging $2,552 for the same units. The city of Vancouver rounds out the top three pricey cities, with costs averaging $2,490 this month.
Regional averages are considerably lower than the top pricey offenders, with Metro Vancouver's overall rents averaging $2,293.
However, several neighbourhoods across the Lower Mainland have rent prices averaging under $2,000 this month. Many other areas averaged just over $2,000 to $2,200, too.
Have a look at some of the cheapest options available in January 2025.
The cheapest Metro Vancouver neighbourhoods for rental housing in January 2025
Locals looking to spend several hundred dollars less than the average cost in Metro Vancouver can find lower prices in the Fraser Valley. Abbotsford remains the cheapest city in the general region, with prices for a newly listed, one-bedroom unfurnished unit averaging $1,676 (see slide two).
People preferring to stick within the Metro Vancouver region can find the cheapest options in Surrey. The cheapest neighbourhood is Newton, with rents averaging $1,850. The Fleetwood area is the second-best, low-cost option, with rents averaging $1,871.
Surrey's third-cheapest option is Surrey City Centre, with rents averaging $1,983. Guildford has the fourth-best options, with rents averaging $1,932.
South Surrey rounds out B.C.'s fastest-growing city's top five cheapest options, with rents averaging $1,981.
White Rock's rents have also dropped close to the $2,000 mark this month, with rents averaging $2,020.
Burnaby's South Slope neighbourhood also offers rent for newly listed, one-bedroom under $2,000, with costs averaging $1,900 per month as of January. The SFU/Burnaby Heights area is the next-best option, although prices averaged $2,103.
Langley doesn't have options under $2,000 this month but the Willoughby area's rents averaged $2,003.
Richmond's rents are considerably higher than most of Metro Vancouver's, excluding the top three most expensive cities. The cheapest rent available is in the Bridgeport area, averaging $2,257.
Coquitlam's Burquitlam rents averaged just below Richmond's cheapest area, at $2,238.
People hoping for affordable rent in the city of Vancouver should check out Sunset-Victoria Fraserview. The east Vancouver neighbourhood was the only neighbourhood in the city with rents averaging under $2,000 at $1,976 (see slide three).
Marpole is the next-best option for renters in the city looking for cheaper options, with rents averaging $2,072.
Hastings-Sunrise is the third-cheapest option, with rents averaging $2,200, while Killarney is the fourth most economical, with prices averaging $$2,202.
The Renfrew-Collingwood neighbourhood also averaged under $2,300, with prices at $2,220 this month.
