Looking for a one bedroom apartment for rent in Metro Vancouver? Here’s a detailed look at the latest rental costs, city trends, and tips for finding the right one bedroom apartment for rent in Vancouver with latest updates.
Metro Vancouver Rental Market Overview – August 2025
Metro Vancouver’s rental market continues to show interesting trends in 2025. While some cities maintain a premium on furnished units, the overall market has experienced a broad downturn in rental rates. According to recent data from liv.rent, many Metro Vancouver cities saw year-over-year decreases in rent for both furnished and unfurnished one-bedroom apartments.
The Bank of Canada’s decision to keep the overnight rate at 2.75% in July 2025 has also contributed to expectations of continued softening in rents and home prices through the rest of the year.
Furnished vs. Unfurnished One Bedroom Apartment for Rent in Metro Vancouver in August 2025
| Municipality/City | Avg. Rent for Unfurnished | Avg. Rent for Furnished |
| Burnaby | $2,260 | $2,251 |
| Coquitlam | $2,079 | $2,144 |
| Langley | $1,796 | $1,902 |
| New Westminster | $1,997 | $2,119 |
| North Vancouver | $2,530 | $2,756 |
| Richmond | $2,301 | $2,291 |
| Surrey | $1,819 | $1,817 |
| Vancouver | $2,421 | $2,718 |
| West Vancouver | $2,648 | $2,467 |
Overview of Average Prices of One Bedroom Apartment for Rent in Metro Vancouver in August 2025
Average prices for both a furnished and unfurnished one-bedroom unit dropped in Metro Vancouver in august 2025. Currently, a furnished one-bedroom unit rents for more than an unfurnished one-bedroom unit by $68/month on average.
Looking for our full August 2025 Metro Vancouver Rent Report? Download your copy here to get all the latest insights, including a detailed breakdown by neighbourhood.
For the latest information and listings, explore Vancouver rentals on liv.rent.
One Bedroom Apartment for Rent in Metro Vancouver Trend
In August 2025, the average rent for an unfurnished one-bedroom apartment in Metro Vancouver dropped to $2,206/month, down $26 from the previous month and $172 lower than August 2024. Furnished units continue to command a slight premium, averaging $2,274/month, which is $68 more than unfurnished units.
Below is the year over year comparison of one bedroom apartment for rent in Metro Vancouver (Unfurnished)
Year-on-Year rent change in One Bedroom Apartment for Rent in Metro Vancouver(Furnished)
| Municipality/City | August 2024 | August 2025 | Difference is Price in August 2025 |
| Burnaby | $2,517 | $2,251 | -$266 |
| Coquitlam | $2,247 | $2,144 | -$103 |
| Langley | $2,035 | $1,902 | -$133 |
| New Westminster | $2,136 | $2,119 | -$17 |
| North Vancouver | $2,874 | $2,756 | -$118 |
| Richmond | $2,480 | $2,291 | -$189 |
| Surrey | $2,045 | $1,817 | -$228 |
| Vancouver | $2,917 | $2,718 | -$199 |
| West Vancouver | $2,818 | $2,467 | -$351 |
Year-on-Year rent change in One Bedroom Apartment for Rent (Unfurnished)
| Municipality/City | August 2024 | August 2025 | Difference is Price in August 2025 |
| Burnaby | $2,447 | $2,260 | -$187 |
| Coquitlam | $2,246 | $2,079 | -$167 |
| Langley | $2,067 | $1,796 | -$271 |
| New Westminster | $2,230 | $1,997 | -$233 |
| North Vancouver | $2,680 | $2,530 | -$150 |
| Richmond | $2,427 | $2,301 | -$126 |
| Surrey | $1,967 | $1,819 | -$148 |
| Vancouver | $2,590 | $2,421 | -$169 |
| West Vancouver | $2,748 | $2,648 | -$100 |
Factors Affecting while finding One Bedroom Apartment for Rent in Metro Vancouver
Several key factors affect rent prices in Metro Vancouver currently are:
Location: Downtown Vancouver and West Vancouver are among the most expensive areas, while Langley and Surrey offer more affordable options.
Furnishing: Furnished units command higher rents, particularly in North Vancouver.
Building Type & Amenities: High-rise buildings with gyms, pools, or parking often cost more than low-rise apartments.
Market Trends: Current interest rates, vacancy rates, and economic factors influence rental pricing.
Tips for Renting a One-Bedroom Apartment in Metro Vancouver
Its always good to compare the market trends, changes and overall rental prices graph over a period of time.
- Compare neighborhoods: Consider affordability versus commute and amenities.
- Check online rental portals: Platforms like liv.rent provide real-time listings, average rent, and active market insights. Check the guide to the best rental websites in Canada.
- Negotiate rent: With declining rents, landlords may be open to negotiation.
- Understand the lease: Familiarize yourself with BC’s rental regulations and allowable annual rent increases (3% for 2025).
Here is where, liv.rent, Canada’s Safest Rental Platform trusted by Landlords and Renters over the years plays an important role!
Is it a good time for switching to One Bedroom Apartment for Rent in Metro Vancouver?
Metro Vancouver’s rental market in August 2025 shows that now is a favorable time to rent a one-bedroom apartment. Year-over-year declines in rents, particularly in cities like Langley (-13.8% for unfurnished units), Surrey (-11.2% for furnished units), and Burnaby (-10.6% for furnished units), have increased affordability for renters.
The Bank of Canada’s stable overnight rate of 2.75% also suggests that rental prices may remain steady or continue to ease slightly through the remainder of 2025, giving renters more options and negotiating power.
However, costs still vary depending on location and unit type. North Vancouver and Downtown Vancouver remain the most expensive, and furnished units maintain a premium. Renters with flexible budgets can take advantage of these trends to find competitive rates and better lease terms.
Check our monthly Vancouver Rent Reports to understand the rental market fluctuations, month on month, year on year changes and updates. Find the right apartment for rent without risking your safety and security with no scams on liv.rent!
FAQs: One Bedroom Apartment for Rent in Metro Vancouver
Is rent going down in Vancouver in August 2025?
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 in August 2025?
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.
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. Here is the article on the Rules applicable on the damage deposit BC.
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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