Coquitlam is getting up there in price for those in the market for a bigger living space, according to a new national rankings list.
Rentals.ca says, in December, $2,188 was the average price for a rental unit with at least two bedrooms in the city, a hop of almost three per cent compared to the same month in 2020.
According to Bullpen Research and Consulting president Ben Myers, that's the sixth-highest rate in all of Canada.
The communities with more expensive two-bedroom suites include Vancouver, Toronto, Victoria, Etobicoke, Ont., and York, Ont.
While the COVID-19 pandemic certainly played a role, Myers explains it's still unclear if the current situation aided in the latest increase.
"Average rental rates [across Canada] moderated in December after rents surged following the April market bottom, where rents had fallen by over nine per cent annually," he said in a statement to the Tri-City News.
Bullpen was hired to work alongside Rentals.ca to compile its National Rent Report.
"It is too early to tell if Omicron will have a prolonged deflationary impact on the rental market, but Bullpen Research & Consulting and Rentals.ca still believe there will be significant upward growth in rents in 2022 in Canada’s major markets."
Meanwhile, Coquitlam residents housed in a one-bedroom rental paid an average of $1,561 in December — a drop of 7.4 per cent monthly and 8.1 per cent yearly.
Despite the decrease, it was the 15th most expensive price in Canada, five dollars behind Victoria ($1,566) and far cheaper than Vancouver, who topped the list once again with an average rent of $2,176.
A two-bedroom rental in Vancouver currently goes for nearly $3,000 monthly.
Across the country, Canadian properties averaged $1,789 in monthly rent — a year-over-year uptick of 3.8 per cent.
No other Tri-City community appeared in the top 35 for Rentals.ca's National Rent Report.
