2 Bedroom Apartment for Rent in Langley

What we’d expect it to ask

$1,754 / month

8 times in ten the answer lands between $1,305 and $2,333. That is the width of what we actually know, measured against listings this model had never seen — not a margin we chose.

Asking $2,000 is $246 above that — further above than the ±11.8% we can put down to our own error. Something about it may justify that; the ad may also simply be ambitious.

Nearby two-bedrooms disagree with each other by about 44% from quartile to quartile, so the estimate is only as sharp as they are.

What moves that number

The advertisement does not state a floor area, so size is not priced in.

Each line is the difference this one thing makes, holding everything else where it is. They do not add up to the rent.

Location

No SkyTrain station within walking distance, about 95 min to Waterfront.

Scored from the map pin alone — rapid transit, town centres and parks, in straight lines. It knows nothing about the street, the hill, the building or the neighbours, and buses and the SeaBus are not in it, so places served by those score lower here than they deserve.

Against the ones next to it

$2,000 is $199 below the middle of the 133 two-bedrooms we are tracking in Langley right now ($2,199). Most of them ask between $1,875 and $2,395.

A straight count of asking prices in the area, with nothing adjusted for — unlike the estimate above, it does not care that this one is bigger or closer to a station.

What the estimate cannot see

Floor, view, condition, noise and everything inside the walls are missing from all but a handful of the advertisements we index, so none of them are priced in above. Two identical floor plans, one renovated and one not, get the same estimate from us. This ad does not give a floor area either, so size is not in it.

The advertisement doesn’t say, and it matters:

• Which way does it face?
• Is parking included or extra?
• Are pets allowed?
• When is it available?