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Burnaby rents see small drop but are still the second most expensive in Canada

Vancouver holds top spot for highest rent prices.
Burnaby is the second most expensive city to rent from in Canada, according to a new report.

Burnaby's rental prices saw a small drop last month, according to a new national report, but are still among the top three in the country.'s July update shows the average price of a one-bedroom rental in Burnaby is more than $2,500 at $2,543. A two-bedroom is more than $3,000 at $3,183. 

June's averages are 1.4 and 0.9 per cent drops respectively compared to the same time period last year. 

Vancouver holds the top spot with a one-bedroom going for $2,724 per month and $3,648 for a two-bedroom. 

British Columbia is also the most expensive province across Canada to rent in with a total average of $2,526. 

A bachelor suite sits at an average of $2,015, $2,289 for a one-bedroom, $2,784 for a two-bedroom and $3,314 for a three-bedroom. 

"Among Canada’s most expensive mid- and small-sized cities for average apartment rents, North Vancouver ($3,285), Burnaby ($2,918), Richmond ($2,836), Coquitlam ($2,809), and Langley ($2,604) ranked highest in B.C.," the report stated. 

Canadian average asking rents dropped 0.8 per cent in June compared to May, which says is the largest month-over-month decline since early 2021 during COVID-19 and reverses the typical seasonal trend of increase rents at this time of year.