The price of a one-bedroom rental in Burnaby jumped $10 in February, according to PadMapper’s latest rent report.
The median cost of a one-bedroom abode in Burnaby increased to $1,440 in February, up from $1,430 in January and up more than 15 per cent over the same time last year, according to the Canadian Rent Report, a monthly report published by online rental listings site PadMapper that analyzes rental data from listings across the country and calculates the median rents for the top 26 most populated metropolitan areas in the country.
Burnaby is still the third most expensive place to rent in Canada following on the heels of Toronto and Vancouver, noted the report. One-bedroom rentals in Toronto averaged $2,060 a month in February – the most expensive price in all of Canada – while one-bedrooms in Vancouver were at $1,990 a month.
The cost of a two-bedroom rental, meanwhile, dropped slightly in Burnaby this month.
Renting a two-bedroom home in Burnaby will cost $2,130 a month, down from $2,150 in January, according to the report.
TOP FIVE MOST EXPENSIVE CITIES TO RENT IN CANADA
- Toronto: one bedroom – $2,060; two bedroom – $2,550
- Vancouver: one bedroom – $1,990; two bedroom – $3,200
- Burnaby: one bedroom – $1,440; two bedroom – $2,130
- Montreal: one bedroom – $1,350; two bedroom – $1,660
- Barrie: one bedroom – $1,270; two bedroom – $1,560
Source: PadMapper Canadian Rent Report