September 2025 Metro Vancouver Rent Report

At a glance

• Surrey rents fall year-over-year for nine straight months
  • Throughout 2025, Surrey has recorded year-over-year declines in 1-bedroom unfurnished rents every single month. In September, it also posted the steepest drop in Metro Vancouver, with 1-bedroom rents down an average of -11.4%.
    
• South Vancouver neighbourhoods hit hardest by rent declines
  • Within the City of Vancouver, Marpole, Sunset–Victoria Fraserview, and Killarney consistently recorded declines in both furnished and unfurnished 1-bedroom rents, on both a month-to-month and year-over-year basis.
    
• Furnished units trail unfurnished in Burnaby and Richmond
  • For three consecutive months, furnished 1-bedroom units in both Burnaby and Richmond are renting for less than unfurnished. In September, the gap widened to $10 in Burnaby and $37 in Richmond.

liv.rent’s 2025 Canada Rental Market Trend Report is now live! Explore the latest rental trends across Canada, uncover key factors driving price changes, and gain exclusive insights into how landlords and renters perceive the market nationwide. Download your copy here.

The Bank of Canada confirmed on July 30th that it would maintain the target overnight rate at 2.75%, which has led many to believe that rent and home prices may continue to fall through 2025. In other news, the province of British Columbia announced the 2026 rent increase limit will be capped at 2.3%.

Let’s look now at the current rental costs and overarching trends in Vancouver for September 2025.

Average rent across Metro Vancouver

Metro Vancouver’s average rent prices have decreased in September. This month, the average rent price for an unfurnished, one-bedroom unit down by $35, to a new average of $2,171. Since September 2024, Metro Vancouver’s average rate for an unfurnished one-bedroom unit has decreased by $199.

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.

Month-to-month rent change

To better understand how rent prices have changed in Metro Vancouver cities, let’s look at the most significant changes for both furnished and unfurnished one-bedroom units this month.

Several cities saw notable changes in average rent prices this month. Now, looking at one-bedroom furnished units, North Vancouver (-5.25), Surrey (-3.01%), and Richmond (-2.42%) saw the largest month-to-month decrease, while West Vancouver saw the biggest increase (6.96%), followed by a minor increase in Vancouver (1.35%).

Looking now at one-bedroom unfurnished units, Vancouver (-6.93%), West Vancouver (-4.84%), and Surrey (-1.66%) saw the biggest month-to-month decrease, while Langley (3.92%) saw the only major increase, followed by minor increases in New Westminster (0.37%) and Coquitlam (0.13%).

Rent per square foot

Where’s the cheapest place to rent in Metro Vancouver based on how much space you get? As of September 2025, the average rent per square foot went up to $3.09. The least expensive cities for square footage are West Vancouver ($2.34/sq. ft.), Surrey ($2.39/sq. ft.), and Richmond ($2.92/sq. ft.), while the most expensive cities for square footage are North Vancouver ($3.72/sq. ft.), Vancouver ($3.70/sq. ft.) and Burnaby ($3.35/sq. ft.).

Active listing data

We’ll also examine detailed statistics for currently active listings available on the market to see which property types and number of bedrooms are the most represented. For renters, these numbers show which types of units you’re most likely to encounter in the Metro Vancouver region, while for landlords, you can assess how much competition you’ll face based on the current supply.

Active listings by property type

As of September 2025, apartments were the most common rental property type, representing 72.06% of active listings on the market. Partial houses were the second-most rented unit type this month, at 16.17% of active listings currently available to rent, followed by houses at 6.12%.

Active listings by number of bedrooms

In terms of the number of bedrooms, we saw a more even spread across active listings on the market this September. Two-bedroom units were the most common type of listing this month at 24.13%, though one-bedroom units held a very near share, representing 19.67% of all active listings on the market.

Average unfurnished vs. furnished rates

Average prices for both a furnished and unfurnished one-bedroom unit dropped in Metro Vancouver this month. Currently, a furnished one-bedroom unit rents for more than an unfurnished one-bedroom unit by $90/month on average.

Looking for our full September 2025 Metro Vancouver Rent Report? Download your copy here to get all the latest insights, including a detailed breakdown by neighbourhood.

City breakdown 

Metro Vancouver’s rental averages vary greatly across the region, so we’ve broken up our data by municipality/city to compare the cost of one-, two-, and three-bedroom rates for furnished and unfurnished units in different areas. Here are some highlights from our most recent findings:

• All types of unfurnished units in Vancouver saw a decrease while all types of furnished units in the same area saw an increase.
• All one-bedroom unfurnished rental units saw a decrease in rent price except Langley, Coquitlam and New Westminster.
• Surrey saw a decrease in all types of rental units both furnished and unfurnished.

Neighbourhood breakdown

We’ve broken down Vancouver into its neighbourhoods for a more complete look at the city’s rental markets. For a further breakdown of neighbourhoods in municipalities and cities outside of Vancouver, be sure to download our complete Rent Report.

Let’s take a look now at some of the latest averages from Vancouver’s many unique neighbourhoods. West Point Grey/UBC is the city’s most expensive neighbourhood to rent in this month, with an unfurnished one-bedroom unit renting for $2,582, while Sunset-Fraserview is the cheapest at $1,944.

We’ve added more new neighbourhoods to our monthly reports that aren’t shown in the data below. To see data on these additional neighbourhoods, statistics for furnished rentals, and neighbourhood breakdowns for other cities in Metro Vancouver, be sure to download your copy of our full report here.

Most expensive cities in Canada

This September, four of the country’s most expensive cities are located in Metro Vancouver. West Vancouver is the most expensive city in the country to rent in, followed by North Vancouver, Richmond, and Vancouver. The only Ontario location on the list was Markham as the fifth most expensive city in Canada.

Other rental data

These insights are exclusive to our blog and are intended to give more context to each month’s rental data. Based on data sourced directly from liv.rent, these statistics provide a more comprehensive overview of the current rental situation in Canada.

Renter demographics

On liv.rent, our renter demographics are fairly balanced across all different age groups. Most of our users are now evenly spread between those aged 25-34, and those aged between 35-44. There are also a notable number of users under 25 years old.

Pet-friendly rentals

We’re proud to say that liv.rent continues to be the rental platform with the most pet-friendly rentals. This September, other rental platforms had just 23.00% of units available that were pet-friendly, while on liv.rent, 55.00% of all listed units were pet-friendly.

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Downloadable resources

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Rental resources for B.C. renters

You can read these comprehensive guides for more information on renting in B.C. and using liv.rent to streamline your rental process.

• BC Residential Tenancy Agreement Explained
• Guide to BC Tenancy Forms
• The Complete User Guide To liv.rent For Landlords & Property Managers
• The Ultimate Renter’s Guide To Using liv.rent

Data collection methodology

Our monthly rent reports use data from our own liv.rent listings, as well as data our team manually collects from other popular listing sites – looking at available basement suites, apartments, condos, townhouses, semi-detached houses, and single-detached houses for each area.

When collecting this data, we do exclude luxury properties listed at over $5,000, as well as rooms for rent and shared accommodation. Investing in manual data collection means that we only consider the current month’s listing, since we can filter out duplicate listings and older ads that haven’t been removed.

Another key difference between our data collection methods and some government agencies like the CMHC is that we only include current asking rent prices. Many official reports will include data for entire buildings in their reports, which tends to skew numbers lower since many units are already occupied, and may be rent-controlled or rented for significantly lower than the current rates.

As we are a Canadian rental platform founded and based in Vancouver, we want to ensure that we’re providing a completely accurate depiction of the rental market in the cities we look at.

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Vancouver Rent Report
Ontario Rent Report
Montreal Rent Report
Calgary and Edmonton Rent Report