Vancouver’s high cost of living could crimp high-flying tech sector, report suggests

November 23, 2016 11:21 pm

the vancouver sun

Vancouver has the most expensive average rental apartment costs of Canada’s top-10 technology markets, while ranking in the middle of the pack when it comes to average tech salaries, according to a new report by CBRE.

In the second quarter of this year, the average annual rental cost of a Vancouver apartment was $15,214, or $1,268 a month, according to the report called 2016: Scoring Canadian Tech Talent. Toronto apartment renters faced an annual rental cost of $14,514, the second most expensive out of the top ten cities. Montreal ranked 10th on the list, with an average annual rent cost of $8,859 — $6,355 cheaper than Vancouver.

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