Rents continue to creep up in large cities with Vancouver leading the pack: Canada Mortgage and Housing Corporation

A new report from Canada Mortgage and Housing Corporation shows the rental market vacancy rate in this country's largest cities reached 3.2 per cent last year, while the rate in Metro Vancouver more than doubled to 2.6, the highest it has been in more than two decades.

CMHC chief economist Bob Dugan says the pandemic cut into rental demand for several reasons including lower international migration, fewer student renters and a sagging employment market.

But the report says rents continue to creep up in large cities.

Report suggests Vancouver is leading the pack at just under 1,800 dollars per month for an average two-bedroom apartment.

That's more than $150 per-month higher than Toronto, the next most expensive city.