Cost of rent in Prince George depends on availability

A quick look on the CMHC data portal shows that the average cost of a two bedroom in Vancouver was $1748 a month in October 2019. In Prince George, for the same kind of unit during the same period, renters paid an average of $921.

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However, if you use Kijiji and you are not looking for a two bedroom unit, you can filter out other types of rentals and you end up with a different picture. A one bedroom can go for as low as $500 in Vancouver, but $800 in Prince George.

Melissa Barcellos, Manager of Economic Development for Prince George says, “I think really, our economy is driving this need for rentals, and rental vacancy rates are extremely low in Prince George.”

Furthermore, the CMHC explains that, “rental prices in medium population centers like Prince George are heavily dependent on population growth, which is mostly driven by migration from other provinces or from abroad.”

Blake Buckham, Owner of NEST Property Management adds that “it makes it tough for a lot of people to find places, and I would say that there’s probably a little bit of a shortage of rental properties here.”