What it costs to rent a one-bedroom suite in Burnaby dropped a bit in March, according to the Canadian Rent Report.
One-bedroom units are renting for an average of $1,420 a month, according to the report, published every month by online rental listings site PadMapper, which analyzes rental data from listings across the country and calculates the median rents for the top 26 most populated metropolitan areas in the country.
Two-bedroom units in Burnaby also dipped slightly in March. The average for a two-bedroom was $2,040 per month, down 4.2 per cent from $2,130 in February.
But despite the drop in average rent prices, Burnaby remained the third most expensive city in the country for renters behind Toronto and Vancouver, which have the most expensive rents across Canada, according to the report.
TOP FIVE MOST EXPENSIVE CITIES TO RENT IN CANADA
Vancouver: one bedroom – $2,000; two bedroom – $3,150
Toronto: one bedroom – $1,970; two bedroom – $2,500
Burnaby: one bedroom – $1,420; two bedroom – $2,040
Montreal: one bedroom – $1,300; two bedroom – $1,5,80
Barrie: one bedroom – $1,270; two bedroom – $1,530
Source: PadMapper Canadian Rent Report