Apartment rates rise slightly

Vacancy rates are down and monthly rents have climbed an average of $10 to $20 from a year ago.

Metro Vancouver apartment vacancy rates are down slightly to 1.7 per cent and monthly rents have climbed $10 to $20 from a year ago, according to a new survey.

The Canada Mortgage and Housing Corp.’s Rental Market Report shows the average rent paid for a one-bedroom apartment in Metro Vancouver is now $1,005 (up from $982), while two-bedroom units rent on average for $1,281 (up from $1,261.)

In Abbotsford-Mission, rent averages $676. The vacancy rate dropped here to 3.9 per cent.