This will be an inaugural post for what I hope can be an interesting piece of information. I will attempt to track the rental market for houses, duplexes, townhomes and suites within houses.
First, a disclaimer: these numbers are not intended to be instructive for the setting of rental amounts. I strongly urge you not to use them for that purpose or in making any other financial decision. There is not enough data available to create reliable statistics in this market, and the methodology is unscientific. Instead, you should rely on the local market knowledge of a licensed Rental Property Manager for advice.
Methodology: Craigslist is the only source being considered for the time being. I am filtering for properties that have 3 bedrooms or more and with a minimum price of $2000/month. Apartments are not included. Whether a rental property is furnished or unfurnished is not considered. Listings are collected from the 7 days prior to this post.
Additional info: Both median and mean numbers can be skewed by just a few listings. Values in one neighbourhood could be vastly different from those in the adjacent neighbourhood. We are tracking listing prices. Actual rental prices could be different for each property. I will start this by focusing on North and West Vancouver only. If it remains an interesting exercise, I may expand it to include areas of Vancouver proper.
Vancouver Rental Market Statistics
Data collected from January 30th-February 6th
|Rental Market||Number of unique Listings||Mean Rental Price||Median Rental Price||Avg. Price per Sq Ft.|
|North Vancouver||46||$4, 116||$3, 500||$1.73|
|West Vancouver||63||$7, 611||$5, 500||$2.04|