Hoo boy! We knew that Vancouver was getting pricier by the month, but we never expected things to have gotten to this point. A new report from the rental marketplace Zumper has found that Vancouver is hundreds of dollars more expensive to rent in than Toronto. Yes, hundreds.
According to the October version of their monthly rent report, the average cost of a 1-bedroom apartment in Vancouver now sits at a whopping $2,130 a month. Meanwhile, Toronto has stayed relatively stable at $1,800 a month. Do a little quick math, and the difference is a serious $330/month.
The gap grows even more when talking about 2-bedroom apartments. The report has found that the median price for Vancouver sits around $2,900, as Toronto’s median price has actually fallen to $2,250. Yeah, it’s a $650 a month difference between the two.
Rent in Vancouver is also literally double the price of some of the cheapest cities nationwide. Edmonton, Winnipeg, Regina and Quebec are all sitting around or under $1,000/month. Yeesh, we guess living in some of Canada’s most desirable cities comes at a hefty price.
Is it worth it? Well, that’s on you to decide! We’re personally fans of the big city vibes, but honestly, we’re just happy we’ve found cheaper-than-average deals over the past few years.