Even though a new report shows prices in Burnaby are on the decline, the city still ranks as one of the most expensive communities to rent in Canada.
Rentals.ca's September report shows Burnaby sat in second during August behind Vancouver with a one-bedroom averaging $2,500.
That was a drop of 2.6 per cent compared to July of this year and -2.2 per cent year over year.
A Burnaby two-bedroom comes in at more than $3,000 at $3,109 — a 2.4 per cent decrease from July and -9.5 per cent from August 2023.
For comparison, a one-bedroom in Vancouver averaged $2,708 in August and $3,632 for a two-bedroom.
Provincially, B.C. remains the highest province to rent from with an overall average of $2,536, but dropped five per cent compared to July.
A studio apartment averaged $1,955 last month (-2 per cent year over year) while a one-bedroom came in at $2,264 (-6 per cent year over year), two-bedroom $2,873 (-2 per cent year over year) and three-bedroom $3,370 (+1 per cent year over year).
Nationally, all residential property types averaged $2,187 for August, increasing by 3.3 per cent over the past year.
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