October 2026 Metro Vancouver rent report

At a glance

• Unfurnished one-bedroom rents are lower than last October in all nine Metro Vancouver cities
  • All nine cities recorded lower unfurnished one-bedroom rents compared with October 2025, with declines ranging from 2.6% in Vancouver to 16.6% in Richmond. Across the nine municipalities, rents decreased by an average of approximately 6.2%.
• Vancouver two-bedroom rents are climbing even as one-bedroom rents ease
  • Vancouver’s unfurnished one-bedroom rent of $2,329 sits 2.6% below October 2025, the smallest decline of the nine cities. Two-bedrooms moved the other way: unfurnished two-bedroom rents rose 5.2% year-over-year from $2,970 to $3,125, and furnished two-bedroom rents rose 10.8% from $3,096 to $3,429.
• Furnished one-bedroom rents fell in seven of nine cities, narrowing the furnished premium
  • Furnished one-bedroom rents decreased month-over-month in seven of nine Metro Vancouver cities, led by Richmond at 3.97%, Coquitlam at 3.39%, and New Westminster at 2.76%. Unfurnished one-bedroom rents rose in five cities over the same period. A furnished one-bedroom now rents for $68 more than an unfurnished one on average, down from $94 in September.

Download liv.rent’s 2026 Canada rental market trends report for in-depth insights and forecasts on average rent prices, regional market comparisons, key economic drivers, and emerging AI trends shaping Canada’s rental landscape.

As of September 2, 2026, the Bank of Canada held its policy interest rate at 2.25%, the seventh consecutive hold. The next scheduled announcement is October 28, 2026. For residential tenancies in B.C., the annual allowable rent increase limit is 2.3% for 2026 and will be 2.2% for 2027, effective January 1, 2027.

Let’s look now at the current rental costs and overarching trends in Vancouver for October 2026.

Average asking rent across Metro Vancouver

This month, the average asking rent for an unfurnished one-bedroom unit decreased 0.12% from September, settling at $2,083 per month. Since October 2025, the Metro Vancouver average for an unfurnished one-bedroom has decreased 6.3%, a drop of $140.

Planning on raising rent? For residential tenancies in B.C., the annual allowable rent increase limit is 2.3% for 2026 and 2.2% for 2027. Find out when and how to increase rent, and how to comply with provincial guidelines, by reading our updated guide to B.C. rent increases.

Rental trend

Since February, unfurnished one-bedroom asking rents have held within a $37 band, between $2,061 and $2,098. The gap against last year widened in October to $140 from $86 in September, because rents rose in October 2025 while this year’s held steady.

Month-over-month rent change

To better understand how rent prices have shifted across Metro Vancouver cities, here are the most significant month-over-month movements for furnished and unfurnished one-bedroom units.

Among furnished one-bedroom units, West Vancouver recorded the largest increase at 3.12%, followed by Surrey at 1.09%. Richmond posted the largest decrease at 3.97%, followed by Coquitlam at 3.39% and New Westminster at 2.76%.

Among unfurnished one-bedroom units, West Vancouver recorded the largest increase at 2.73%, followed by Coquitlam at 1.10%. Richmond posted the largest decrease at 2.64%, followed by Burnaby at 2.26%.

Rent per square foot

Where is the most affordable place to rent in Metro Vancouver based on the space you get? As of October 2026, the average asking rent per square foot eased 5.7% from September to $2.73. The least expensive cities for square footage are West Vancouver, Surrey, and New Westminster. The most expensive are Vancouver, North Vancouver, and Richmond.

Active listing data

We also examine detailed statistics for currently active listings on the market to see which property types and bedroom counts are most represented. For renters, these numbers show the types of units you are most likely to encounter across Metro Vancouver. For landlords, they indicate how much competition you face based on current supply.

Active listings by property type

As of October 2026, apartments were the most common rental property type on the market at 72.02% of active listings. Partial houses were the second most represented unit type this month at 17.04%, followed by houses at 6.72% and townhouses at 4.21%.

Active listings by number of bedrooms

Looking at bedroom counts, one-bedroom units were the most common listing this month at 45.99%, with two-bedroom units close behind at 43.70%. Three-bedroom units made up the remaining 10.31%.

Average unfurnished and furnished rates

Average prices for both furnished and unfurnished one-bedroom units decreased across Metro Vancouver this month. Furnished one-bedrooms decreased 1.30% to $2,151 per month, while unfurnished units decreased 0.12% to $2,083. A furnished one-bedroom currently rents for $68 more per month than an unfurnished one on average.

Looking for our full October 2026 Metro Vancouver rent report? Download your copy in the downloadable resources section for all the latest insights, including a detailed breakdown by neighbourhood.

City breakdown

Rental averages vary widely across Metro Vancouver, so we break the data out by municipality to compare one-bedroom, two-bedroom, and three-bedroom rates for furnished and unfurnished units. Highlights from this month’s findings:

• All unfurnished unit types decreased in price in Burnaby, Surrey, Richmond, and New Westminster, while all three increased in Vancouver.
• Furnished one-bedroom and two-bedroom units both increased in price in West Vancouver.
• Furnished one-bedroom and two-bedroom units both decreased in price in Richmond, New Westminster, North Vancouver, and Langley.

The table includes a year-over-year column comparing each city’s unfurnished one-bedroom asking rent with October 2025. Every city sits below where it was a year ago, with declines ranging from 2.6% in Vancouver to 16.6% in Richmond. The table is interactive: sort any column, or download it as an image.

Neighbourhood breakdown

We break Vancouver down by neighbourhood for a more complete picture of the city’s rental markets. For neighbourhood detail in municipalities outside Vancouver, download the complete rent report.

Across the 16 City of Vancouver neighbourhoods with unfurnished one-bedroom listings this month, West Point Grey/UBC is the most expensive place to rent, with an unfurnished one-bedroom asking $2,600 per month. Sunset-Victoria Fraserview is the most affordable at $1,717 per month.

We have added new neighbourhoods to our monthly reports that are not shown in the data below. For those additional neighbourhoods, furnished rental statistics, and neighbourhood breakdowns for other Metro Vancouver cities, download your copy of the full report in the downloadable resources section.

Most expensive cities in Canada

This October, three of the country’s five most expensive cities are in Metro Vancouver. West Vancouver claims the top spot as the most expensive city in Canada to rent in, followed by North Vancouver and Vancouver, with Burlington and Markham, both in Ontario, rounding out the top five.

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

Renter demographics

Renter demographics span several age groups. The largest share is aged 35 to 44 at 34%, followed by renters aged 25 to 34 and 45 to 54 at 21% each. Renters aged 55 and older account for 15%, while renters under 25 account for 9%.

Pet-friendly rentals

liv.rent continues to be the rental platform with the most pet-friendly rentals. This October, 25% of units on other rental platforms were pet-friendly, compared with 54% of all units listed on liv.rent.

Downloadable resources

Rental resources for B.C. renters

These comprehensive guides cover renting in B.C. and using liv.rent to streamline your rental process.

• B.C. residential tenancy agreement explained
• Guide to B.C. tenancy forms
• The complete user guide to liv.rent for landlords and 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, covering available basement suites, apartments, condos, townhouses, semi-detached houses, and single-detached houses for each area.

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

Another key difference between our data collection methods and those of agencies such as the Canada Mortgage and Housing Corporation is that we include only current asking rent prices. Many official reports include data for entire buildings, which tends to skew numbers lower since many units are already occupied and may be rent-controlled or rented well below current rates.

As a Canadian rental platform founded and based in Vancouver, we want to provide a completely accurate depiction of the rental market in the cities we cover.

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Subscribe to receive monthly updates on Canada’s major rental markets. Discover last month’s rent reports below:

Vancouver rent report
Ontario rent report
Montreal rent report
Calgary and Edmonton rent report