Rental prices dropped during the last month and throughout the year during 2024.
According to Rentals.ca's January report, a one-bedroom unit hit an average of $2,366 in December while a two-bedroom averaged $3,055.
December's numbers equated to a 0.5 per cent monthly drop compared to November.
Burnaby experienced a decrease of nine per cent throughout 2024 for one-bedroom rentals, as well as a dip of 0.2 per cent monthly and 3.1 per cent annually for a two-bedroom unit.
The number one spot still belongs to Vancouver with a one-bedroom average of $2,512 and $3,430 for two-bedrooms.
According to the data, compiled by Rentals.ca and Urbanation, rents also dropped three per cent throughout Canada last year compared to 2023, noting the 2024 numbers equated to a 17-month low of $2,019 last month.
Provincially, B.C. still has the highest average of anywhere else in the country with a price of $1,930 for a bachelor, $2,188 for one-bedroom, $2,797 for two-bedrooms and $3,466 for three.
Other B.C. cities to make the top 35 highest rental prices in Canada for December were Victoria (ninth), Kelowna (15th) and Nanaimo (22nd).
