Established Vancouver renters pay a fraction of what those who’ve recently moved do

The rental market in Vancouver is competitive and expensive, with recent renters paying an average of $2,000 for a two-bedroom unit and existing renters paying $1,500. Renters, especially those under 34, are more likely to be living in unaffordable housing than owners. With rising interest rates, homeownership is becoming increasingly difficult to attain and competition for rental housing will only become more intense. The only way to secure an affordable rental is to have signed the lease several years ago.