Is Vancouver pricing itself out of the rental market?

With rents continuing to rise Vancouver is becoming increasingly unaffordable. 

With a vacancy rate of just 1.8 per cent and rent controls allowing inflation plus 2 per cent, some are finding that they can’t find property they can afford or are just not willing to pay more for less.

A report in the Vancouver Sun highlights the issue through the eyes of a single woman who has taken the decision to move to Montreal to be able to afford to live. Having found Vancouver rentals such as a 500 square foot apartment for $1,500 per month she decided that she’s rather take chance on Montreal’s tougher weather conditions and move.