Rent in Vancouver, BC is through the roof. Downtown, water view, I won't even comment on. Your looking at $1500 and up. But, in the near suburbs, it's a little better. You can get a real nice brand new construction at one of the many condo buildings they are putting up. Designer kitchen, stainless steel appliances (fridge, gas stove/oven, microwave, dishwasher and garburator) high speed internet, stacked wash/dry, patio view, 900-1000 SF, 2 bed, 2 bath (One master) for about $1200. Amenities include Gym, Pool, Private, secured parking, steps away from shopping, etc. The lowest I've ever seen an apartment, was probably $650-800 for a 2 bed 1 1/2 bath.
It's definitely a better investment to buy a home and get a mortgage 30 yr fixed, whatever it may be. Rather than pay someone else's mortgage, to pay your own, here in Vancouver.