Average Vancouver rent price drops in October but still up 6.7% over last year

Rental prices in Vancouver dropped in October but are still up compared to last year. The decrease is attributed to cooling weather and an increase in rental listings. However, experts believe this is a temporary shift and will not affect long-term affordability. Vancouver remains the most expensive city for renters in Canada. The average one-bedroom unit is listed at $2,872, while a two-bedroom is listed at $3,777. The drop in rental prices is not expected to impact the overall trend of rising rental costs in the future.