After years of intense competition, Canada’s rental market entered a stabilization phase in 2026. National vacancy rose to 3.1%, immigration declined 18% year-over-year, and landlords increasingly turned to incentives — reflecting easing pressure on renters.

But beneath the surface, new risks may be emerging.

While rental conditions feel more balanced today, housing-start activity has weakened in key urban markets, particularly in high-rise supply. Combined with rising project cancellations and multi-year development timelines, today’s slowdown in construction could risk creating a renewed supply shortfall within the next two to three years.

The liv.rent 2026 Rental Market Trend Report examines this pivotal transition. Drawing on proprietary listing data, a survey of 750+ landlords and renters, and research from CMHC, the Bank of Canada, and Statistics Canada, the report analyzes rent trends, migration shifts, construction activity, and forward-looking supply risks across Canada’s major markets.

Download the full 2026 Rental Market Trend Report for deeper insights into how cooling demand, shifting migration patterns, and weakening housing starts may shape the next phase of Canada’s rental market..

Here is a look at some of the key findings in the full 2026 liv.rent Rental Market Trend Report:

Canada overview

Immigration slows sharply in 2025​

• After rebounding post-COVID, immigration dropped significantly in 2025, falling 18% year-over-year — the largest annual decline on record.
• Nearly every province saw double-digit decreases, showing that the slowdown was widespread across the country.
• This decline reflects the federal government’s updated Immigration Levels Plan, which signals a more cautious approach to population growth.

Ontario and B.C.​ account for nearly 70% of Canada’s emigration

• Emigration in 2025 were heavily concentrated in Ontario and British Columbia, which together accounted for nearly 70% of all emigrants nationwide. ​​
• British Columbia recorded one of the largest year-over-year increases in emigration (+32%).

Fewer Canadians moving between provinces

• Interprovincial migration (people moving between provinces) also slowed in 2025, declining 6% year-over-year.
• Alberta attracted strong inflows, with 65,573 people moving in, though less than previous years.
• Ontario saw the most people leave, with 76,652 residents moving out.
• Overall, mobility across Canada is cooling.
  

Canada sees record emigration – biggest exodus in a decade

• 11 of 13 provinces and territories post double-digit year-over-year increases in residents leaving the country.
• In 2025, 95,733 Canadians emigrated out of the country, up 17% from 2024 and the highest level since 2011.

British Columbia

B.C. stays as Canada’s third most sought-after province in Canada for immigrants​​

• The province attracted 13% of Canada’s immigrants, trailing Quebec at 15% and Ontario at 43%.
  
  

After a decade ​of growth, B.C.’s population reverses course​

• For the first time since 2012, British Columbia posted negative population growth in 2025, alongside Ontario as the only provinces to decline.

B.C. among four provinces to see decline in housing starts

• Housing starts in British Columbia fell 5% year-over-year in 2025, making it one of only four provinces to record a decline.

Metro Vancouver rents decline amid rising emigration​​​

• Metro Vancouver began experiencing steeper downward pressure on rents in August 2025, coinciding with a 50% increase in emigration from B.C. in Q3 compared to Q2.

Alberta

Alberta’s migration boom is cooling after years of strong growth

• The pace of inflows has slowed markedly, with the number of Canadians moving to the province down 16% year-over-year—from 77,761 in 2024 to 65,573.

Alberta drops to third nationally in housing starts​​

• Alberta’s growth was driven primarily by apartments, with starts up 29%, while single-family construction declined 4%.

Following growth in 2024, Calgary rents reversed course in 2025

• Calgary rents declined year-over-year across all unit types in 2025, with two-bedroom units recording the steepest drops.

Ontario

Ontario fuels ​Canada’s emigration as departures hit a new high​

• 2025 set a new record, with 44,758 people leaving the province, a 14% year-over-year increase. Ontario continues to lead Canada in emigration, accounting for 47% of all departures nationwide.

Ontario housing supply hit by ​double-digit drop in construction starts​

• Housing starts in Ontario fell 17% year-over-year in 2025, with declines recorded across all housing types, including a 9% drop in apartment construction.

Toronto rents fall everywhere​​

• Toronto’s rental price decline in 2025 was driven by widespread softening across all neighbourhoods, affecting both furnished and unfurnished units.​

Nova Scotia

Nova Scotia trails only Alberta in interprovincial migration gains

• Nova Scotia ranked second only to Alberta in interprovincial migration gains in 2025, posting a net increase of 2,446 residents.

Nova Scotia ramps up housing starts, ​but completions ​lag demand​

• Housing starts in Nova Scotia rose to 8,732 in 2025, ranking the province fifth nationally and matching Quebec’s pace of growth.

Quebec

Emigration accelerates, offsetting stable immigration

• Emigration from Quebec rose sharply in 2025, increasing 21% year-over-year to 12,691 people, marking the province’s highest level since 2017 and outpacing the national increase.

Quebec leads Canada in housing starts

• Quebec emerged as one of Canada’s strongest housing markets in 2025, with housing starts jumping 32% year-over-year.
  
  

Montreal rents surge above 2024 levels, then plunge after August

• Despite broader downward pressure on rental prices, Verdun and Westmount recorded consistent year-over-year rent increases across most unit types.

Landlords-Renters: Divided Opinions

As an added bonus, we surveyed more than 750 renters and landlords to understand their perspectives on today’s rental landscape and the evolving role of AI.

• Nine in ten renters believe landlords are profitable​.
• 43% landlords report that current rents do not cover expenses.​
• Only one in six renters and landlords use AI​.

Download the full report to view all of the in-depth insights.

Data Collection Methodology

The 2026 liv.rent Rental Market Trend Report uses data from liv.rent listings, as well as data manually collected from other popular rental listing platforms. Our methodology focuses exclusively on current asking rent prices. Unlike some government reports that include data for entire buildings (which may include long-term rent-controlled units), our analysis reflects real-time market conditions and active listing prices.

For influencing market factors, liv.rent references data from trusted sources such as Statistics Canada, Canada.ca, and CMHC, along with relevant reporting from established Canadian media outlets.

For more information on our data collection methodology, including what types of rental housing we look at, please consult the full reports.

Download the free 2026 liv.rent Rental Market Trend Report here for complete information on average rent prices and driving factors for B.C., Ontario, Alberta, and Quebec.

Rethink The Way You Rent

Not on liv.rent yet? Experience the ease of digital applications & contracts, verified tenants & landlords, virtual tours and more – all on one platform. Sign up for free or download the app.

Subscribe to receive the latest tenant & landlord tips and get notified about changes in the Canadian rental market.

>> Stay up-to-date on the average rent in Vancouver, Toronto and Montreal: Rent Reports.

The post 2026 Canada Rental Market Trend Report appeared first on liv.rent blog.

• Core Vancouver rents continue to reset from last year’s highs
  • Unfurnished one-bedroom rents are still down year-over-year in central areas. Downtown is about 10% lower than January 2025, while the West End is slightly below last year. Two-bedroom rents also remain softer, showing peak pricing has not returned.
    
• Burnaby hubs continue to lower for family-sized units
  • Unfurnished three-bedroom rents are down roughly 13–15% from January 2025, pointing to weaker demand for larger units in high-density hubs.
    
• Surrey and Fraser Valley hold onto affordability gains
  • Entry-level rents remain well below last year. Surrey City Centre is down about 12% year-over-year, while Newton is nearly 20% lower, keeping these areas among the region’s most affordable options.
    

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.

On December 10th 2025, the Bank of Canada announced that the interest rate would stay at 2.25%, closing out the year on a low trend. The 2026 rent increase limit is capped at 2.3% as we look into the New Year.

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

Average rent across Metro Vancouver

Metro Vancouver’s average rent prices have decreased in January. This month, the average rent price for an unfurnished, one-bedroom unit went down by $9, to a new average of $2,111/month. Since January 2025, Metro Vancouver’s average rate for an unfurnished one-bedroom unit has decreased by $182.

Planning on raising rent this year? B.C.’s new annual allowable rent increase limit for 2026 is 2.3%. 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. Looking at furnished one-bedroom units, New Westminster (-8.63%), Coquitlam (-3.66%), and Vancouver (-3.13%) all saw decreases. Meanwhile, West Vancouver (4.36%), and Richmond (2.58%) saw increases.

Looking now at unfurnished one-bedroom units, Surrey (-3.47%), Richmond (-2.25%), and West Vancouver (-1.76%) saw decreases. Increases were seen in Langley (6.48%) and Coquitlam (1.77%).

Rent per square foot

Where’s the cheapest place to rent in Metro Vancouver based on how much space you get? As of January 2026, the average rent per square foot dropped to $3.05/sq. ft.. The least expensive cities for square footage are Surrey ($2.49/sq. ft.), Langley ($2.76/sq. ft.). and Coquitlam ($2.80/sq. ft.). Meanwhile, the most expensive cities for square footage are Vancouver ($3.67/sq. ft.), West Vancouver ($3.30 sq. ft.), and Burnaby ($3.24/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 January 2026, apartments were the most common rental property type, representing 73.30% of active listings on the market. Partial houses were the second-most rented unit type this month, at 14.54% of active listings currently available to rent, followed by houses at 7.77%.

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 January. One-bedroom units were the most common type of listing this month at 45.17%, though two-bedroom units held a very near share, representing 43.55% of all active listings on the market. Three-bedrooms rounded out at 11.28% of listings.

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 $57/month on average.

Looking for our full January 2026 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 unfurnished one-bedroom rental prices saw a decrease across neighbourhoods except Coquitlam and Langley.
• All unfurnished two-bedroom rental prices saw a decrease across neighbourhoods except Langley.
• All types of furnished and unfurnished units in downtown Vancouver decreased.

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 $2,767/month, while Killarney is the cheapest at $1,931/month.

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 January, five 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, Vancouver, Burnaby and Richmond.

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 January, other rental platforms had just 25.00% of units available that were pet-friendly, while on liv.rent, 54.00% of all listed units were pet-friendly.

Downloadable resources

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

Rethink The Way You Rent

Not on liv.rent yet? Experience the ease of digital applications & contracts, verified tenants & landlords, virtual tours and more – all on one platform. Sign up for free or download the app.

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

The post January 2026 Metro Vancouver Rent Report appeared first on liv.rent blog.

• Core neighbourhoods in a clear reset at the end of 2025
  • Unfurnished one- and two-bedroom rents in Vancouver, Burnaby, and the North Shore fell 5–10%. Vancouver one-bedroom dropped from $2,490/month to $2,308/month, North Vancouver from $2,531/month to $2,365/month, and Burnaby from $2,292/month to $2,165/month. Two-bedroom units in these areas also declined roughly 5–7% YoY.
    
• Affordability improves fastest outside the core
  • Coquitlam unfurnished one-bedrooms fell from $2,196/month to $1,916/month (−13%), New Westminster from $2,227/month to $1,906/month (−14%), and Surrey from $1,967/month to $1,785/month (−9%). Two-bedroom rents in Surrey and New Westminster also saw double-digit drops.
    
• Burnaby hubs see the largest declines in December
  • In Brentwood, one-bedroom unfurnished dropped from $2,445/month to $2,183/month (−11%), and two-bedroom from $3,140/month to $2,830/month. Metrotown followed a similar trend, with one-bedroom down from $2,387/month to $2,218/month (−7%), and two-bedroom rents also decreasing.
    

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.

On December 10th, the Bank of Canada announced that the interest rate would stay at 2.25%, closing out 2025 on a low trend. In other news, the 2026 rent increase limit will be capped at 2.3% as we look toward the New Year.

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

Average rent across Metro Vancouver

Metro Vancouver’s average rent prices have decreased in December. This month, the average rent price for an unfurnished, one-bedroom unit went down by $44, to a new average of $2,120/month. Since December 2024, Metro Vancouver’s average rate for an unfurnished one-bedroom unit has decreased by $177.

Planning on raising rent this year? B.C.’s new annual allowable rent increase limit for 2026 is 2.3%. 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. Looking at furnished one-bedroom units, Richmond (-5.87%), Coquitlam (-3.86%), Langley (-3.73%), and North Vancouver (-3.12%) all saw decreases. Meanwhile, New Westminster recorded a significant increase (6.37%), as well as Surrey (2.02%), and West Vancouver (1.79%).

Looking now at unfurnished one-bedroom units, Coquitlam (-6.36%), Richmond (-3.31%), North Vancouver (-2.92%), and Burnaby (-2.81%) saw decreases. Minor increases were seen in Surrey (1.42%) and West Vancouver (.50%).

Rent per square foot

Where’s the cheapest place to rent in Metro Vancouver based on how much space you get? As of December 2025, the average rent per square foot dropped to $2.94/sq. ft.. The least expensive cities for square footage are Coquitlam ($2.41/sq. ft), Surrey($2.45/sq. ft.), and Langley ($2.68/sq. ft.). Meanwhile, the most expensive cities for square footage are Vancouver ($3.76/sq. ft.), Burnaby ($3.39/sq. ft.), and North Vancouver ($3.36/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 December 2025, apartments were the most common rental property type, representing 54.80% of active listings on the market. Partial houses were the second-most rented unit type this month, at 24.19% of active listings currently available to rent, followed by houses at 12.85%.

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 December. One-bedroom units were the most common type of listing this month at 45.86%, though two-bedroom units held a very near share, representing 42.78% of all active listings on the market. Three-bedrooms rounded out at 11.36% of listings.

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 $81/month on average.

Looking for our full December 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 unfurnished one-bedroom rental prices saw a decrease across neighbourhoods except Surrey and West Vancouver.
• All unfurnished three-bedroom rental prices saw a decrease across neighbourhoods except New Westminster, Vancouver, and West Vancouver.
• All unfurnished units in typically desirable North Vancouver decreased in rental price.

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 End is the city’s most expensive neighbourhood to rent in this month, with an unfurnished one-bedroom unit renting for $2,911/month, while Renfrew-Collingwood is the cheapest at $1,982/month.

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 December, five 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, Vancouver, Richmond, and Burnaby.

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 December, other rental platforms had just 27.00% of units available that were pet-friendly, while on liv.rent, 56.00% of all listed units were pet-friendly.

Downloadable resources

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

Rethink The Way You Rent

Not on liv.rent yet? Experience the ease of digital applications & contracts, verified tenants & landlords, virtual tours and more – all on one platform. Sign up for free or download the app.

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

The post December 2025 Metro Vancouver Rent Report appeared first on liv.rent blog.

• Rent prices dip across Metro Vancouver’s most expensive cities
  • All four core markets—Vancouver, Burnaby, Richmond, and North Vancouver—saw rents fall year-over-year across every bedroom type. Vancouver stood out with the steepest drops, especially in two-bedroom (-12.49%) and three-bedroom (-11.97%) units.
    
• City of Vancouver sees widespread declines across all neighbourhoods
  • With the exception of Shaughnessy, every Vancouver neighbourhood recorded a year-over-year decline in unfurnished one-bedroom rents. The steepest drops were seen in Dunbar-Arbutus (-18.10%), Killarney (-14.92%), and Marpole (-14.17%), marking them as the hardest-hit areas in the city.
    
• Langley edges upward despite region-wide declines
  • Aside from a brief dip in October, Langley has seen a steady upward push in furnished 1-bedroom rents since June. Langley is one of the few markets trending upward, with furnished 1-bedroom rents rising year-over-year (+5.29%) and month-to-month (+5.52%).
    

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.

On October 29th, the Bank of Canada announced that the interest rate would lower to 2.25%, suggesting it was unlikely to drop again before the end of the year. Vancouver has been experiencing significant rent declines in the latter half of 2025 and will likely end the year on a downward trend. 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 November 2025.

Average rent across Metro Vancouver

Metro Vancouver’s average rent prices have decreased in November. This month, the average rent price for an unfurnished, one-bedroom unit went down by $59, to a new average of $2,164/month. Since November 2024, Metro Vancouver’s average rate for an unfurnished one-bedroom unit has decreased by $195.

Planning on raising rent this year? B.C.’s new annual allowable rent increase limit for 2026 is 2.3%. 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. Looking at furnished one-bedroom units, Richmond (-9.85%), West Vancouver (-9.08%), and Coquitlam (-5.83%) saw the biggest decreases. Meanwhile, Langley recorded the only significant increase (5.52%).

Looking now at unfurnished one-bedroom units, West Vancouver (-6.98%), North Vancouver (-5.88%), and Surrey (-2.25%) saw decreases. The only increase was seen in Burnaby (1.35%).

Rent per square foot

Where’s the cheapest place to rent in Metro Vancouver based on how much space you get? As of November 2025, the average rent per square foot went up to $3.10/sq. ft.. The least expensive cities for square footage are Surrey ($2.49/sq. ft.), Richmond ($2.64/sq. ft.), and Coquitlam ($2.91/sq. ft.). Meanwhile, the most expensive cities for square footage are Vancouver ($3.57/sq. ft.), North Vancouver ($3.34/sq. ft.), and New Westminster ($3.33/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 November 2025, apartments were the most common rental property type, representing 70.19% of active listings on the market. Partial houses were the second-most rented unit type this month, at 15.64% of active listings currently available to rent, followed by houses at 9.01%.

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 November. One-bedroom units were the most common type of listing this month at 44.14%, though two-bedroom units held a very near share, representing 44.10% of all active listings on the market. Three-bedrooms rounded out at 11.76% of listings.

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 $54/month on average.

Looking for our full November 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 unfurnished one-bedroom rental prices saw a decrease across neighbourhoods except Burnaby. Meanwhile all furnished one-bedroom rental prices decreased except Burnaby and Langley.
• All unfurnished two-bedroom rental prices saw a decrease across neighbourhoods except Coquitlam and Langley.
• All unfurnished three-bedroom units increased in rental price except Burnaby and Vancouver.

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. Downtown is the city’s most expensive neighbourhood to rent in this month by just $1, with an unfurnished one-bedroom unit renting for $2,659/month, just above West Point Grey/UBC $2,658 while Renfrew-Collingwood is the cheapest at $1,952.

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 November, five 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, Vancouver, Richmond, and Burnaby.

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 November, other rental platforms had just 25.00% of units available that were pet-friendly, while on liv.rent, 53.00% of all listed units were pet-friendly.

Downloadable resources

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

Rethink The Way You Rent

Not on liv.rent yet? Experience the ease of digital applications & contracts, verified tenants & landlords, virtual tours and more – all on one platform. Sign up for free or download the app.

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

The post November 2025 Metro Vancouver Rent Report appeared first on liv.rent blog.

• White Rock’s furnished two-bedroom units now approach Metro Vancouver rent levels
  • White Rock’s two-bedroom furnished units now average $2,996/month — higher than Renfrew–Collingwood ($2,524/month) and Marpole ($2,534/month), and only slightly below Kitsilano ($3,111/month). This reflects growing demand for spacious, move-in-ready rentals in coastal suburbs as renters look beyond Metro Vancouver.
    
• Surrey experiences steepest YoY drop in one-bedroom furnished rentals across Metro Vancouver
  • In October 2025, Surrey saw the sharpest one-bedroom furnished rent drop in Metro Vancouver, falling $240 year-over-year (-12%) to $1,798/month. This double-digit decline outpaced Vancouver (-5%) and North Vancouver (-8%), hinting at softer demand or oversupply in Surrey’s furnished market.
    
• Downtown reclaims top spot for most expensive one-bedroom unfurnished rent
  • After three months behind West Point Grey/UBC, Downtown Vancouver reclaimed the top spot for one-bedroom unfurnished rentals in October at $2,760/month, just above West Point Grey/UBC ($2,735/month).
    

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.

On September 17th, the Bank of Canada announced that the interest rate would lower to 2.5% in the first cut since March, which has been cause for cautious optimism for the remainder of 2025 and into early 2026. 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 October 2025.

Average rent across Metro Vancouver

Metro Vancouver’s average rent prices have increased in October. This month, the average rent price for an unfurnished, one-bedroom unit went up by $52, to a new average of $2,223. Since October 2024, Metro Vancouver’s average rate for an unfurnished one-bedroom unit has decreased by $58.

Planning on raising rent this year? B.C.’s new annual allowable rent increase limit for 2026 is 2.3%. 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. Looking at one-bedroom furnished units, Burnaby (-3.08%), Langley (-1.87%), and Vancouver (-1.00%) saw the biggest decreases. Meanwhile, North Vancouver (6.58%), Richmond (6.47%), and Coquitlam (5.15%) saw significant increases.

Looking now at one-bedroom unfurnished units, Burnaby (-1.44%), New Westminster (-0.78%) and Coquitlam (-0.39%) saw minor decreases. The biggest increases were seen in West Vancouver (7.44%), Vancouver (6.06%), and Langley (3.58%), with additional increases in North Vancouver (2.78%) and Richmond (2.49%).

Rent per square foot

Where’s the cheapest place to rent in Metro Vancouver based on how much space you get? As of October 2025, the average rent per square foot went down to $3.06. The least expensive cities for square footage are Surrey ($2.32), West Vancouver ($2.65/sq. ft.), and Langley ($2.81). Meanwhile, the most expensive cities for square footage are Vancouver ($4.11/sq. ft.), Burnaby ($3.27/sq. ft.), and North Vancouver ($3.24/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 October 2025, apartments were the most common rental property type, representing 69.05% of active listings on the market. Partial houses were the second-most rented unit type this month, at 16.04% of active listings currently available to rent, followed by houses at 9.92%.

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 October. Two-bedroom units were the most common type of listing this month at 45.69%, though one-bedroom units held a very near share, representing 43.23% of all active listings on the market. Three-bedrooms rounded out at 11.09% of listings.

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 $108/month on average.

Looking for our full October 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:

• Unfurnished one-bedroom rental prices saw an increase in all neighbourhoods except Burnaby, Coquitlam, and New Westminster.
• Rental prices for two-bedroom unfurnished units decreased in all neighbourhoods except Vancouver, New Westminster, and Langley.
• Surrey had the lowest rent cost for unfurnished one-bedroom units while West Vancouver took the spot for the highest rental cost.

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. Downtown is the city’s most expensive neighbourhood to rent in this month, with an unfurnished one-bedroom unit renting for $2,760/month, while Dunbar-Arbutus is the cheapest at $1,966.

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 October, five 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, Vancouver, Richmond, and Burnaby.

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 October, 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.

Downloadable resources

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

Rethink The Way You Rent

Not on liv.rent yet? Experience the ease of digital applications & contracts, verified tenants & landlords, virtual tours and more – all on one platform. Sign up for free or download the app.

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

The post October 2025 Metro Vancouver Rent Report appeared first on liv.rent blog.

• 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.

Downloadable resources

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

Rethink The Way You Rent

Not on liv.rent yet? Experience the ease of digital applications & contracts, verified tenants & landlords, virtual tours and more – all on one platform. Sign up for free or download the app.

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

The post September 2025 Metro Vancouver Rent Report appeared first on liv.rent blog.

• North Vancouver holds onto furnished premium
  • Since January 2025, North Vancouver has been the only Metro Vancouver city consistently showing a positive furnished premium. As of August, furnished 1-bedrooms rent for $2,756/month, compared to $2,530/month unfurnished — a $226 premium, suggesting landlords in North Vancouver can still earn more from furnished rentals.
    
• Sustained downturn in Metro Vancouver rental rates
  • Metro Vancouver experienced broad year-over-year rent declines in August 2025, impacting both furnished and unfurnished 1-bedroom units across all cities. Langley led the downturn, with unfurnished 1-bedrooms down -13.1%, while furnished units in West Vancouver (-12.5%), Surrey (-11.2%), and Burnaby (-10.6%) also saw steep double-digit drops.
    
• Langley’s rents take a steep dive
  • Langley posted the largest drop in 1-bedroom unfurnished rent across Metro Vancouver, falling -13.8% from $2,083 in January to $1,796 in August 2025. The downturn began mid-year, with May 2025 marking the first month of year-over-year decline for this unit type.

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.

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

Average rent across Metro Vancouver

Metro Vancouver’s average rent prices have decreased in August. This month, the average rent price for an unfurnished, one-bedroom unit down by $26, to a new average of $2,206. Since August 2024, Metro Vancouver’s average rate for an unfurnished one-bedroom unit has decreased by $172.

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. Looking at one-bedroom furnished units, Surrey (-5.07%), West Vancouver (-3.61%), and North Vancouver (-2.98%) saw the biggest month-to-month decrease, while Langley (1.08%), Burnaby (0.86%), and New Westminster (0.17%) were the only three cities that saw a minor month-to-month increase.

Looking now at unfurnished one-bedroom units, Langley (-7.11%) experienced the largest month-to-month decrease, followed closely by New Westminster (-6.03%), while North Vancouver saw the biggest increase (2.17%).

Rent per square foot

Where’s the cheapest place to rent in Metro Vancouver based on how much space you get? As of August 2025, the average rent per square foot went down to $2.96. The least expensive cities for square footage are Langley ($2.41/sq. ft.), Surrey ($2.59/sq. ft.), West Vancouver ($2.60/sq. ft.), and New Westminster ($2.75/sq. ft.), while the most expensive cities for square footage are North Vancouver ($3.71/sq. ft.), Vancouver ($3.64/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 August 2025, apartments were the most common rental property type, representing 72.55% of active listings on the market. Houses were the second-most rented unit type this month, at 12.96% of active listings currently available to rent, followed by partial house at 10.66%.

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 August. One-bedroom units were the most common type of listing this month at 54.88%, though two-bedroom units held a very near share, representing 52.76% 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 $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.

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:

• Average prices for three-bedroom unfurnished units decreased in all cities except Surrey
• Richmond and Vancouver saw average price drops across the board for one-, two-, and three-bedroom furnished units.
• On the other hand, Burnaby and Langley saw average price drops across the board for all unfurnished unit types.

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 $2,849/month on average.

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 August, 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, Vancouver, and Richmond. 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 August, 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.

Downloadable resources

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

Rethink The Way You Rent

Not on liv.rent yet? Experience the ease of digital applications & contracts, verified tenants & landlords, virtual tours and more – all on one platform. Sign up for free or download the app.

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

The post August 2025 Metro Vancouver Rent Report appeared first on liv.rent blog.

• Downtown Vancouver rents rebound—but still trail 2024
  • After dipping in May, 1-bedroom unfurnished rents in Downtown Vancouver have risen for two straight months, reaching $2,818 in July—up 4.1% since May. But rents are still 2.9% lower than July 2024, showing the recovery hasn’t fully caught up to last year’s peak.
• Burnaby rents are falling faster than Vancouver
  • Burnaby saw a 7.6% year-over-year drop in 1-bedroom unfurnished rent—outpacing Vancouver’s 7.1% decline over the same period. Every major Burnaby neighbourhood posted a rent decrease, with Central Burnaby (–16.1%) and South Slope (–14.7%) leading the slide. Even Metrotown rents fell over 9% – a sharp drop for one of Burnaby’s busiest neighbourhoods.
• The furnished premium is disappearing in more cities
  • As of July 2025, furnished 1-bedroom units rented for less than unfurnished ones in five out of nine Metro Vancouver cities. These cities were Langley (–2.6%), Burnaby (–2.5%), West Vancouver (–2.2%), Richmond (–0.9%), and New Westminster (–0.5%)—showing that the usual furnished premium has disappeared in much of the region.

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’s most recent announcement on June 4th indicated 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.

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

Average rent across Metro Vancouver

Metro Vancouver’s average rent prices have just increased slightly this July. This month, the average rent price for an unfurnished, one-bedroom unit went up by $9, to a new average of $2,232. Since July 2024, Metro Vancouver’s average rate for an unfurnished one-bedroom unit has decreased by $129.

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. Looking at one-bedroom furnished units, Richmond (-9.43%) saw the biggest month-to-month decrease, while North Vancouver (+1.19%) and Vancouver (+0.18%) were the only two cities that saw a month-to-month increase.

Looking now at unfurnished one-bedroom units, Langley (+2.64%) experienced the highest month-to-month increase, while Coquitlam saw the biggest decrease with a drop of (-5.96%).

Rent per square foot

Where’s the cheapest place to rent in Metro Vancouver based on how much space you get? As of July 2025, the average rent per square foot went up to $3.01. The least expensive cities for square footage are Langley ($2.45/sq. ft.), West Vancouver ($2.52/sq. ft.), and Coquitlam ($2.71/sq. ft.), while the most expensive cities for square footage are Vancouver ($3.76/sq. ft.) and New Westminster ($3.34/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 July 2025, apartments were the most common rental property type, representing 74.09% of active listings on the market. Houses were the second-most rented unit type this month, at 12.12% of active listings currently available to rent.

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 July. One-bedroom units were the most common type of listing this month at 48.00%, though two-bedroom units held a very near share, representing 44.54% of all active listings on the market.

Average unfurnished vs. furnished rates

Average prices for an unfurnished one-bedroom unit increased very slightly in Metro Vancouver this month. As of July 2025, a furnished one-bedroom unit rents for more than an unfurnished one-bedroom unit by $77/month on average.

Looking for our full July 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:

• Average prices for one-bedroom unfurnished units have decreased in all cities except Burnaby, Langley, and Vancouver.
• Surrey saw average price drops across the board for one-, two-, and three-bedroom furnished and unfurnished units.
• For one-bedroom furnished units, average rent prices dropped across all cities except North Vancouver, and Vancouver.

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 $2,863/month on average.

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 July, all five 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, Vancouver, Richmond and Burnaby.

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. While most of our users are aged 25-34, there’s a good representation of renters between 35-44, as well as 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 July, other rental platforms had just 25.00% of units available that were pet-friendly, while on liv.rent, 54.00% of all listed units were pet-friendly.

Downloadable resources

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

Rethink The Way You Rent

Not on liv.rent yet? Experience the ease of digital applications & contracts, verified tenants & landlords, virtual tours and more – all on one platform. Sign up for free or download the app.

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

The post July 2025 Metro Vancouver Rent Report appeared first on liv.rent blog.