An online ad aimed at University of British Columbia students is offering a top bunk for rent for $550 per month and the bottom for $620.
The Craigslist post explains that the shared room is just one of the options on offer in a "beautiful mansion" in the tony Dunbar-Southlands neighbourhood, which is dominated by single-family homes with more than four bedrooms sitting on multi-million dollar pieces of property. The commute to UBC is about 10 minutes by car and 20 by bus.
The ad says the home has a total of 10 bedrooms and nine bathrooms. It does not say how many people in total live on the property.
While a private room is renting for $1010 plus $70 per month for utilities, the shared space is billed as a "cheaper option." It features the bunkbeds (a single on top, a double on the bottom) as well as a separate single bed which is also available for $620.
"All beds have their own dressers and night tables," the post adds.
The shared spaces include a living room, a "huge" family room, a library, an exercise room, a large kitchen and laundry.
"The house is very big and the shared open spaces are very large. As a result, the house is fairly quiet," the ad continues.
Parking, a garden, a patio and a "basketball play area" are among the outdoor amenities.
If the prices advertised seem steep for a shared student space, a comparison with rates for a dorm room at UBC shows they are a relatively cheaper option.
A shared room at one residence is just under $850 per month while another is slightly less than $750.
Further, finding a market rental in the city, even of a shared space far from campus, is a daunting proposition – particularly for someone looking to spend less than $1,000 a month.
Canada Mortgage and Housing Corporation's annual renter's report, released in January, showed that Vancouver rents continued to be the highest in the country. The vacancy rate dropped to below one per cent, meaning there are scant options and fierce competition for what is available.
The average price for a two-bedroom unit increased by 6.3 per cent in 2022 – to $2,002 for a purpose-built unit and $2,504 for a condo.
For people with less money, the situation is particularly dire.
"Important imbalances exist in the Vancouver rental market. Our data show that lower-income households face significant challenges finding units that they can afford," the report said.
Only about one in three market units is affordable to a household with an annual income of less than $55,000, and only one in 200 is affordable to households with the lowest 20 per cent of incomes, the report noted.
