The Price of NEW: Trends in Chilliwack’s Rental Properties Market
- Sean Sliman
- Feb 4
- 2 min read
Chilliwack Rental Properties
Chilliwack Rental Properties market is going through some interesting shifts, especially when compared to the broader BC housing landscape. The market here is quite diverse, with different housing types experiencing varying levels of demand and pricing trends.
The Basement Suite Oversupply
One of the biggest challenges for investors in Chilliwack right now is the oversaturation of basement suites. With an increasing number of these units available, supply has started to outpace demand, leading to a noticeable dip in rental prices in this category. If you’re a property owner with a basement suite, it’s more important than ever to ensure your unit stands out through competitive pricing and high-quality features.
Condos & Townhomes on the Rise
On the flip side, condos and townhouses are seeing steady demand. New one-bedroom condos are now renting for $1,700+ per month, and modern three-bedroom, 2–2.5 bathroom townhomes are commanding $2,600 or more. This demand is driven by renters seeking newer, well-located properties that offer modern amenities and a more community-focused living experience.
Why New Construction Stands Out
One of the biggest factors influencing rental prices right now is the growing demand for new properties. With fewer tenants being forced to move due to sales, external pressures on the rental market have eased. However, renters are now making moves by choice—seeking out newer, trendier, and better-located homes.
This is particularly evident in developments like The York in Garrison Crossing and Iron Horse in Vedder, where rental prices are consistently 15-20% higher than older comparable units. Tenants are willing to pay a premium for modern finishes, energy-efficient designs, and vibrant community settings, making new construction a strong investment opportunity.
Final Thoughts
Since there are no official published statistics for rental trends in BC, these insights are based on my professional market analysis and firsthand experience in Chilliwack’s rental landscape. If you’re a property owner or investor looking for guidance on pricing, tenant demand, or property management, feel free to reach out—I’d be happy to help.
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