Things seem to be looking up for renters as the average rent in Vancouver, Canada, for a one-bedroom apartment continues to drop. Furnished units saw a 2.32% drop to an average of $2,333/month, while unfurnished units fell 2.27% to $2,223/month. Although still among the highest rates in the country, the news is welcome as economic uncertainties and the cost of living still challenge affordability in the West Coast city.
The Bank of Canada recently announced on June 4th that it’s keeping the overnight interest rate at 2.75%, and many people think this could mean rent and home prices might keep dropping into 2025. All these indicators could be hopeful signs as urban demand continues to grow. Tracking Vancouver rental trends will ensure you find the best available units at an affordable price, so be sure to check the liv.rent rent report and blog for the most up-to-date rental data.

Vancouver’s Average Rent – June 2025 at a glance
Taking a closer look at June, average rent prices across Metro Vancouver have declined. The average monthly rent for an unfurnished one-bedroom unit dropped by $52, bringing it down to $2,223. Compared to June 2024, that’s a total decrease of $114. Take a look at the average rent breakdown by listing type in the table below:
Unit Type | Unfurnished | Furnished | MoM Change |
1-bedroom | $2,223/month | $2,333/month | -2.30% |
2-bedroom | $2,866/month | $2,965/month | +1.19% |
Planning on raising rent this year? B.C.’s new annual allowable rent increase limit for 2025 is 3%. Find out when and how to increase rent and ensure you comply with provincial guidelines by reading our updated Guide to B.C. Rent Increases.
Where is Rent Highest and Lowest in Vancouver?
There’s now an $869/month gap between Vancouver’s priciest and most affordable neighbourhoods. Downtown leads as the most expensive neighbourhood, with average rent for a one-bedroom unfurnished unit at $2,764/month. On the opposite end, Hastings-Sunrise is the most budget-friendly, averaging just $1,895/month.

We’ve expanded our monthly reports to include even more neighbourhoods. To access data on these additional areas, furnished rental statistics, and detailed neighbourhood breakdowns across Metro Vancouver, make sure to download the full report here.
Are you a student? It can be difficult to know how to rent as a newcomer in Canada, especially if you are in school. We have compiled a guide to the best student housing rentals in Canada. Check here for our insights into the top locations for students to rent in Canada.
Furnished vs. Unfurnished Apartments in Vancouver
The average rent for a furnished unit in Vancouver stands at $2,333/month, while unfurnished units sit at $2,223/month. The average rent between furnished and unfurnished apartments only differs by about $100, so for those new to the city looking for convenience, furnished could be the way to go. For those looking to decorate their space to their liking, unfurnished apartments are often cheaper and offer more rental options. Additionally, you will find certain neighbourhoods more closely aligned with your budget by reviewing a wide range of areas.
How Does Vancouver Compare to Nearby Cities?
As of June, the five most expensive rental markets in Canada are all within Metro Vancouver. West Vancouver tops the list as the priciest city to rent in, followed by North Vancouver, Vancouver, Richmond, and Burnaby.
Interest in areas outside the city centre remains high as more people see the value in relocating and the flexibility of remote work. As rent drops across desirable areas, renters are also interested in finding the best deals in the areas they want to be in, which means many renters could be staying put or renting closer to transit hubs to save on commuting costs.

Is it a Good Time to Rent in Vancouver?
Compared to recent years, it is generally a good time to rent in Metro Vancouver since average rent prices have decreased. In fact, the average rent cost in Metro Vancouver has been on a steady decline for the last 16 months. One-bedroom apartments peaked in 2023 and have been trending down ever since.
It goes without saying that Vancouver is still an expensive place to be, and although rent costs may have come down, it remains one of the most expensive places to rent in the country. Factors such as inflation, cost-of-living, and the housing crisis continue to impact liveability standards.
Keep up with the latest rental news and stay ahead of trends by checking the liv.rent website monthly. As rent continues to decrease in the city, it pays to stay active online and be up-to-date on rental figures across Metro Vancouver.
For the latest information and listings, explore Vancouver rentals on liv.rent.
What Rental Websites are Best for Finding Apartments in Vancouver?
For renters who value safety, security, and convenience, liv.rent offers a trusted and efficient way to find housing across B.C., Ontario, Alberta, and Montreal. Easily compare listings above using key features and other important details to find the right fit.
There are many other notable and trusted websites for finding apartments in Vancouver. We have compiled a list of other popular rental websites in the city below:
• Zumper
• Zillow
• Condos.ca
• Kijiji
• Rentals.ca
FAQ
What is the average rent in Vancouver in 2025?
The average rent for a furnished one-bedroom apartment is $2,333/month, while unfurnished units are 2.27% to $2,223/month.
What rental websites are best for finding apartments in Vancouver?
For the most up-to-date rental information in Vancouver, liv.rent is the number one website for finding an apartment.
Is rent going down in Vancouver?
Yes, the average rent in Metro Vancouver has gone down and has been on a downward trend for the last 16 months.
What part of Vancouver is cheapest to rent?
Hastings-Sunrise is the most budget-friendly area of Vancouver to rent, averaging just $1,895/month.
Is it cheaper to rent a house or an apartment in Vancouver?
Renting an apartment is generally cheaper in Vancouver, but, depending on where the house is, you could rent and share living space in a house, and it could be cheaper.
Are there rent control laws in Vancouver?
Yes, in British Columbia, rent increases are governed by the Residential Tenancy Act (RTA). To learn more about renting rules and regulations in Vancouver, check the bc rental law board.
How often can a landlord raise the rent in Vancouver?
Landlords are permitted to raise the rent only once every 12 months, and the amount must not exceed the annual allowable increase, which is generally tied to inflation. For 2025, the maximum allowable rent increase is 3%.
Is it better to rent a furnished or unfurnished apartment in Vancouver?
Depending on what you are looking for, unfurnished apartments are cheaper to rent. If you are moving from out of the country and don’t have any furniture, you will need to furnish it yourself, which can be costly.
How much is a damage deposit in Vancouver?
In Vancouver (and British Columbia), the rules for damage deposits, also known as “security deposits,” are set by the Residential Tenancy Act (RTA). Landlords can charge up to half of one month’s rent.
How can I check if a rental listing in Vancouver is real?
Verify the address, compare rent prices, request a viewing, and research the landlord. Avoid paying before seeing the unit or signing a lease. Use reputable sites and watch for duplicate ads, low prices, or pressure tactics, which are common signs of a scam. For a comprehensive platform that offers a fully secure alternative to renting websites, check out liv.rent.
Download The Latest Vancouver Rent Report
For the complete Vancouver rent report including new neighbourhood breakdowns, download here.
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