Renters in North Vancouver top everyone else in Canada in terms of how much they’re paying.

According to Rental.ca’s most recent report, the average renter on the North Shore pays $3,002 for their place, the highest in the country.

That’s nearly $250 more expensive than rent in the City of Vancouver and the only place in Canada to surpass three-grand.

Giacomo Ladas with Rentals.ca says part of the solution to lowering prices would be to increase the number of multi-bedroom apartments hitting North Vancouver’s market. 

“Obviously in a very expensive market like North Vancouver, the way to make your rent cheaper is to get roommates,” said Ladas. 

“You have to have roommates, generally. Sometimes, a higher number of roommates than other cities,” said Saville. 

But, City of North Vancouver Mayor Linda Buchanan says the average family size in her community is less than two people and based on housing sales, multi-bedroom units aren’t a hot commodity.

Instead, she says an option could be allowing single-home lots to increase the people living on them.

“If families already own land, how can we help them, maybe give them a little more FSR, and allow them to build what’s going to work for their family. That’s going to help drive down costs,” said Buchanan.

Lowering average rental prices won’t happen overnight but Ladas says one upside for renters willing to wait is that the North Shore’s high prices will eventually work in their favour.

“You’re going to see less Canadians move out west, especially to Vancouver and North Vancouver, just because the price tag is still very high. Which should bring down demand in general, which typically does bring down prices”