The Median Rent In Vancouver Fell In September

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The median rent in Vancouver fell 0.4% in September and Vancouver rents have now decreased by a total of 0.9% over the past 12 months

The median rent in Vancouver fell 0.4% in September, according to the October report from Apartment List.

Rents in the areas have now decreased by a total of 0.9% over the past 12 months. The rent growth over the past year has fallen behind the state average (1.0%) and is similar to the national average (-0.7%).

Vancouver rent growth in 2024 pacing above last year

Nine months into the year, rents in Vancouver have risen 3.2%. This is a faster rate of growth compared to what the city was experiencing at this point last year: from January to September 2023 rents had decreased 1.1%.

The median rent in Vancouver fell 0.4% in September and Vancouver rents have now decreased by a total of 0.9% over the past 12 months

Vancouver rents are 0.5% lower than the metro-wide median

Across the Portland metro area, the median rent is $1,694 meaning that the median price in Vancouver ($1,685) is 0.5% lower than the price across the metro as a whole. Metro-wide annual rent growth stands at 1.3%, above the rate of rent growth within just the city.

The table below shows the latest rent stats for 9 cities in the Portland metro area that are included in the Apartment List database.

Among them, Lake Oswego is currently the most expensive, with a median rent of $2,107. Gresham is the metro’s most affordable city, with a median rent of $1,548. The metro’s fastest annual rent growth is occurring in Beaverton (4.1%) while the slowest is in Vancouver (-0.9%).

The median rent in Vancouver fell 0.4% in September and Vancouver rents have now decreased by a total of 0.9% over the past 12 months

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