The residential rents in New Westminster consistently rank as some of the highest in Canada, as part of an overall trend for Metro Vancouver.
Liv.rent, a rental platform based in Vancouver, creates monthly reports for the Metro Vancouver region. They find several neighbourhoods offer comparably lower rental prices than the areas they are located in.
The company has compiled a list of the nine cheapest neighbourhoods to rent in across the region and breaks down how much the neighbourhoods cost in comparison to the cities they are located in.
And this is what the site has to say about New Westminster.
New Westminster’s average rent for unfurnished rentals is $1,599 for a one-bedroom and $2,183 for a two-bedroom, as of May 2021’s liv.rent report.
The Brow of the Hill neighbourhood is extra affordable because it has an average of $1,485 for a one-bedroom and $1,750 for a two-bedroom according to Zumper’s data.
Neighbourhood Breakdown: Brow of the Hill
About: This quaint neighbourhood brings residents close to all the best New Westminster has to offer. A short walk will take you to Quayside, where you can grab a drink at Steel & Oak Brewing Co. or go for a leisurely walk along the Fraser River at the Waterfront Esplanade and Park. Close to Douglas College and New Westminster Station, this is a prime spot for students and commuters alike.
Proximity to Downtown Vancouver: 35 minutes by car and 30 minutes by public transit to Downtown Vancouver.
Rental types: Renters can find a variety of new and old apartment buildings in this highly desirable neighbourhood.
By comparison, in an unfurnished one-bedroom apartment, Vancouver renters must pay an average of a whopping $1,791; a furnished one costs an average of $2,000.
The average rent for a city is often far higher than its cheapest neighbourhood. For example, a one-bedroom rental in Surrey will cost $1,375 and two-bedrooms will cost an average of $1,735. Guilford Town Centre neighbourhood's one-bedroom rentals are priced on average slightly lower, at $1,357, while the two-bedroom offers substantial savings, at $1,525.
Similarly, renting in a South Vancouver neighbourhood like Victoria-Fraserview is usually far cheaper than in the heart of downtown. In South Vancouver, the average rent for unfurnished rentals is $1,718 for a one-bedroom and $2,394 for a two-bedroom, In Victoria-Fraserview, a one-bedroom costs an average of $1,500 and $1,900 for a two-bedroom.
The average rent of Richmond’s unfurnished rentals is $1,762 for a one-bedroom and $2,172 for a two-bedroom, according to liv.rent’s rent report data from November 2021. In the city's South Arm neighbourhood, however, one-bedrooms price an average of $1,450 and two-bedrooms cost $1,700.
Here are the 8 cheapest neighbourhoods to rent in Metro Vancouver:
- Guilford Town Centre, Surrey
- Victoria-Fraserview, Vancouver
- South Arm, Richmond
- Brow Of The Hill, New Westminster
- Sunset, Vancouver
- Port Moody
- Lynnmour South, North Vancouver
- Richmond Park, Burnaby
- With additional reporting by Elana Shepert, Vancouver is Awesome.
