The residential rents in Burnaby consistently rank as some of the highest in Canada, making dubious national lists.
Liv.rent, a rental platform based in Vancouver, creates monthly reports for the Metro Vancouver region. They find several neighbourhoods offer comparably lower rental prices than the areas they are located in.
The company has compiled a list of the nine cheapest neighbourhoods to rent in across the region and breaks down how much the neighbourhoods cost in comparison to the cities they are located in.
And this is what the site has to say about Burnaby.
Burnaby’s average rent for unfurnished rentals is $1,805 for a one-bedroom and $2,239 for a two-bedroom, from its November 2021 rent report.
But if you take a closer look at Richmond Park, you might be able to get a place for less. Zumper’s data puts an average rental cost at $1,300 for a one-bedroom and $2,500 for a two-bedroom.
Neighbourhood Breakdown: Richmond Park
About: Richmond Park is an extremely diverse neighbourhood, with immigrants making up 59% of the population. This area offers something for everyone, with quick access to transit as well as Downtown Burnaby’s many shopping centres and restaurants.
Proximity to Downtown Vancouver: 45 minutes by car and 40 minutes by public transit to Downtown Vancouver.
About: There are lots of low and high-rise apartment buildings for rent here, and the neighbourhood strikes a great balance between being close to the city and a quiet, suburban lifestyle.
By comparison, in an unfurnished one-bedroom apartment, Vancouver renters must pay an average of a whopping $1,791; a furnished one costs an average of $2,000.
The average rent for a city is often far higher than its cheapest neighbourhood. For example, a one-bedroom rental in Surrey will cost $1,375 and two-bedrooms will cost an average of $1,735. Guilford Town Centre neighbourhood's one-bedroom rentals are priced on average slightly lower, at $1,357, while the two-bedroom offers substantial savings, at $1,525.
Similarly, renting in a South Vancouver neighbourhood like Victoria-Fraserview is usually far cheaper than in the heart of downtown. In South Vancouver, the average rent for unfurnished rentals is $1,718 for a one-bedroom and $2,394 for a two-bedroom, In Victoria-Fraserview, a one-bedroom costs an average of $1,500 and $1,900 for a two-bedroom.
The average rent of Richmond’s unfurnished rentals is $1,762 for a one-bedroom and $2,172 for a two-bedroom, according to liv.rent’s rent report data from November 2021. In the city's South Arm neighbourhood, however, one-bedrooms price an average of $1,450 and two-bedrooms cost $1,700.
Here are the nine cheapest neighbourhoods to rent in Metro Vancouver:
- Guilford Town Centre, Surrey
- Victoria-Fraserview, Vancouver
- South Arm, Richmond
- Brow Of The Hill, New Westminster
- Sunset, Vancouver
- Port Moody
- Lynnmour South, North Vancouver
- With additional reporting by Elana Shepert, Vancouver is Awesome.
