August 2026 Metro Vancouver rent report

The average asking rent for an unfurnished one-bedroom in Metro Vancouver was $2,098 in August, up slightly from July but still $107 below where it was a year ago.

At a glance

• Unfurnished one-bedroom rents declined across every Metro Vancouver city year-over-year
  • All nine cities recorded lower unfurnished one-bedroom rents compared with August 2025, with declines ranging from 1.6% in Langley to 8.46% in Richmond. Across the nine municipalities, rents decreased by an average of approximately 4.7%.
• Burnaby is the only city where every rental category rose this month
  • Burnaby recorded month-over-month increases across all six rental categories, furnished and unfurnished alike. Its largest gain was for furnished three-bedroom homes, which rose 4.74% from $3,046 to $3,190.
• Coquitlam’s furnished and unfurnished markets are moving in opposite directions
  • Since July, Coquitlam’s furnished one-bedroom rents fell 1.21% from $2,051 to $2,026 and furnished two-bedroom rents fell 3.12% from $2,426 to $2,350. Over the same period, unfurnished one-bedroom rents rose 1.85% from $1,999 to $2,036, while unfurnished two-bedroom rents rose 0.63% from $2,403 to $2,418.

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 July 15, 2026, the Bank of Canada held its policy interest rate at 2.25%, the sixth consecutive hold. The next scheduled announcement is September 2, 2026. B.C.’s annual allowable rent increase limit for 2026 remains capped at 2.3%.

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

Average asking rent across Metro Vancouver

This month, the average asking rent for an unfurnished one-bedroom unit increased 0.45% from July, settling at $2,098 per month. Since August 2025, the Metro Vancouver average for an unfurnished one-bedroom has decreased 4.86%, a drop of $107.

Planning on raising rent this year? B.C.’s annual allowable rent increase limit for 2026 is capped at 2.3%. 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

Viewed across the year so far, unfurnished one-bedroom asking rents have held in a narrow band since January while remaining below the same months in 2025. The gap against last year continued to narrow in August, down to 4.86% from 6.43% in July.

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 3.94%, followed by Vancouver at 2.33% and Burnaby and Langley, both at 1.96%. Surrey posted the largest decrease at 3.80%, followed by Coquitlam at 1.21% and North Vancouver at 1.14%.

Among unfurnished one-bedroom units, North Vancouver recorded the largest increase at 3.59%, followed by Coquitlam at 1.85%. Richmond posted the largest decrease at 2.67%, followed by Langley at 1.05%.

Rent per square foot

Where is the most affordable place to rent in Metro Vancouver based on the space you get? As of August 2026, the average asking rent per square foot eased 0.35% from July to $3.14. The least expensive cities for square footage are Richmond, Coquitlam, and Langley. The most expensive are North Vancouver, Vancouver, and Burnaby.

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 August 2026, apartments were the most common rental property type on the market at 73.41% of active listings. Partial houses were the second most represented unit type this month at 15.91%, followed by houses at 6.81% and townhouses at 3.87%.

Active listings by number of bedrooms

Looking at bedroom counts, one-bedroom units were the most common listing this month at 46.69%, with two-bedroom units close behind at 42.54%. Three-bedroom units made up the remaining 10.77%.

Average unfurnished and furnished rates

Average prices for both furnished and unfurnished one-bedroom units increased across Metro Vancouver this month. Furnished one-bedrooms increased 0.34% to $2,181 per month, while unfurnished units increased 0.45% to $2,098. A furnished one-bedroom currently rents for $83 more per month than an unfurnished one on average.

Looking for our full August 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 increased in price across Burnaby, Surrey, North Vancouver, and New Westminster.
• All furnished unit types increased in Vancouver and Burnaby. Richmond and Surrey also had complete furnished three-bedroom data this month, but not all furnished categories increased in those two cities.
• Coquitlam’s unfurnished rents are rising while its furnished rents fall: unfurnished one-bedroom rents increased 1.85% and two-bedroom rents increased 0.63%, while furnished one-bedroom rents decreased 1.21% and two-bedroom rents decreased 3.12%.

The table includes a year-over-year column comparing each city’s unfurnished one-bedroom asking rent with August 2025. Every city sits below where it was a year ago, with declines ranging from 1.6% in Langley to 8.46% 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.

Among City of Vancouver neighbourhoods with available unfurnished one-bedroom data, West Point Grey and UBC is the most expensive this month at $2,741 per month, while Sunset and Victoria Fraserview is the most affordable at $1,802 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 August, four of the country’s five most expensive cities are again in Metro Vancouver, though the lineup has shifted since July: Burnaby has entered the top five in place of Richmond. West Vancouver claims the top spot as the most expensive city in Canada to rent in, followed by North Vancouver, Vancouver, and Burlington, Ontario, with Burnaby rounding out the top five.

*Based on a smaller sample of listings.

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

liv.rent renters span several age groups, with the largest share aged 35 to 44 at 38%, followed by renters aged 25 to 34 at 24%. Renters aged 45 to 54 account for 15%, renters under 25 account for 12%, and renters aged 55 and older account for 11%.

Pet-friendly rentals

liv.rent continues to be the rental platform with the most pet-friendly rentals. This August, 24% of units on other rental platforms were pet-friendly, compared with 55% 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

Rethink the way you rent

Not on liv.rent yet? Experience the ease of digital applications and contracts, verified tenants and 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 2026 Metro Vancouver rent report appeared first on liv.rent blog.

• Unfurnished one-bedroom rents declined across every Metro Vancouver city year-over-year
  • All nine cities recorded lower unfurnished one-bedroom rents compared with July 2025, with declines ranging from 2.3% in Coquitlam to 10.1% in New Westminster. Across the nine municipalities, rents decreased by an average of approximately 6.5%.
    
• Burnaby shows the most consistent signs of rental-market softness
  • Burnaby rents declined across all six rental categories between January and July. Its largest start-of-year decrease was for furnished three-bedroom homes, which fell 12.4% from $3,476 to $3,046. Compared with July 2025, furnished three-bedroom rents were down approximately 20.2% from $3,815 to $3,046, the largest individual decline in the dataset.
    
• Surrey’s furnished rental market is outperforming its unfurnished market
  • Since January, Surrey’s furnished one-bedroom rents increased 9.4% from $1,772 to $1,939, while furnished two-bedroom rents rose 9.6% from $2,106 to $2,309. By comparison, unfurnished one-bedroom rents increased only 1.2%, while unfurnished two-bedroom rents decreased 2.5%.
    

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 July 15, 2026, the Bank of Canada held its target overnight rate at 2.25%, marking the sixth consecutive announcement with no change. Many economists expect the Bank to remain cautious through 2026 as inflation and economic uncertainty persist. B.C.’s 2026 rent increase limit is capped at 2.3%.

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

Average rent across Metro Vancouver

This month, the average rent price for an unfurnished one-bedroom unit decreased slightly to a new average of $2,089/month. Since July 2025, Metro Vancouver’s average rate for an unfurnished one-bedroom unit has decreased by $143.

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.

To better understand how rent prices have changed across Metro Vancouver cities, let’s look at the most significant month-to-month changes for furnished and unfurnished one-bedroom units. For furnished one-bedroom units, New Westminster (7.41%), Surrey (4.06%), and Coquitlam (2.56%) saw the most notable increases this month. Meanwhile, Burnaby (-4.95%), West Vancouver (-4.94%), and Vancouver (-3.75%) recorded the most notable decreases. For unfurnished one-bedroom units, Langley (2.41%) and Surrey (1.78%) saw the most notable increases, while North Vancouver (-2.69%) and New Westminster (-1.18%) recorded the most notable decreases.

Rent per square foot

Where’s the cheapest place to rent in Metro Vancouver based on how much space you get? As of July 2026, the average rent per square foot decreased to $3.15/sq. ft. The least expensive cities for square footage are Richmond ($2.32/sq.ft.), Coquitlam ($2.81/sq.ft.), and Langley($2.98/sq.ft.) Meanwhile, the most expensive cities for square footage are North Vancouver ($3.80/sq. ft.), Vancouver ($3.71/sq. ft.), and Burnaby ($3.50/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 2026, apartments were the most common rental property type, representing 70.99% of active listings on the market. Partial houses were the second-most common listing type this month, at 15.38% of active listings currently available to rent, followed by houses at 9.63%.

Active listings by number of bedrooms

In terms of the number of bedrooms, we saw a spread across active listings on the market this July. One-bedroom units were the most common type of listing this month at 46.83%, though two-bedroom units held a very near share, representing 42.81% of all active listings on the market. Three-bedrooms rounded out at 10.36% of listings.

Average unfurnished vs. furnished rates

Average prices for both a furnished and unfurnished one-bedroom unit decreased in Metro Vancouver this month. Furnished one-bedrooms decreased (-0.72%) to $2,174/month, while unfurnished units decreased (0.08%) to $2,089/month. Currently, a furnished one-bedroom unit rents for more than an unfurnished one-bedroom unit by $85/month on average.

Looking for our full July 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:

• Coquitlam and Richmond were the strongest performers for unfurnished rentals this month, with one-, two-, and three-bedroom rents all increasing month over month.
• North Vancouver showed the clearest signs of softness among unfurnished rentals, with rents decreasing across all three bedroom types.
• Surrey stood out in the furnished market, as all furnished unit types increased in price this month.

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 for unfurnished one-bedroom rentals this month, with an unfurnished one-bedroom unit renting for $2,809/month, while Sunset-Victoria Fraserview is the cheapest at $1,860/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 July, the top 4 of the country’s most expensive cities are located in Metro Vancouver as West Vancouver claims the top spot as the most expensive city in the country to rent in, followed by North Vancouver, Vancouver, and Richmond with Burlington, Ontario rounding out the top 5.

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, renter demographics are spread across several age groups, with the largest share of renters aged 35-44 at 38%, followed by those aged 25-34 at 27%. Renters under 25 also make up a notable share of the platform’s audience at 13%.

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 22% of units available that were pet-friendly, while on liv.rent, 54% 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 2026 Metro Vancouver Rent Report appeared first on liv.rent blog.

• Langley records Metro Vancouver’s largest one-bedroom rent decline
  • Langley saw the steepest drop in one-bedroom unfurnished rents among major Metro Vancouver municipalities, falling 13.71% since the start of the year and 8.11% year-over-year. The decline lowered average rents to $1,744, making Langley the region’s second most affordable rental market behind Surrey.
    
• West Vancouver remains the region’s most resilient premium rental market
  • West Vancouver continued to command the highest rents across all major unit types, with one-bedroom units averaging $2,538, two-bedroom units averaging $3,616, and three-bedroom units averaging $4,954. Year-over-year changes remained minimal at -2.31%, +1.06%, and -1.14%, respectively, highlighting continued stability in the premium rental segment.
    
• Smaller rental units experience larger annual corrections
  • One-bedroom unfurnished rents recorded the largest year-over-year decline across Metro Vancouver, falling 5.98%, compared to 5.09% for two-bedroom units and 4.03% for three-bedroom units. The trend suggests larger rental homes have remained more resilient than smaller units over the past year.
    

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 June 10, 2026, the Bank of Canada maintains its policy interest rate at 2.25%, unchanged for the third consecutive decision. Experts predict this rate will be maintained through most of 2026. Additionally, the 2026 rent increase limit is capped at 2.3%.

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

Average rent across Metro Vancouver

This month, the average rent price for an unfurnished, one-bedroom unit went up by $4, to a new average of $2,090/month. Since June 2025, Metro Vancouver’s average rate for an unfurnished one-bedroom unit has decreased by $133.

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 with Vancouver and Langley seeing the highest increase and New Westminster the lowest decrease. Looking at furnished one-bedroom units, Vancouver (5.99%), Langley (5.98%), West Vancouver (4.19%), and Coquitlam (4.19%)saw increases, while New Westminster (-7.18%) and North Vancouver (-3.81) saw decreases.

Looking now at unfurnished one-bedroom units, Vancouver (2.78%), Richmond (2.72%), Coquitlam (2.67%), North Vancouver (1.42%), New Westminster (0.21%), and Surrey (0.58%) saw increases.

For unfurnished one-bedroom units, Langley (-6.56%), West Vancouver (-1.22%), and Burnaby (-1%) recorded decreases.

Rent per square foot

Where’s the cheapest place to rent in Metro Vancouver based on how much space you get? As of June 2026, the average rent per square foot increased up to $3.18/sq. ft.. The least expensive cities for square footage are Richmond ($2.50/sq.ft.), Coquitlam ($2.85/sq.ft.), and West Vancouver ($2.92/sq. ft.). Meanwhile, the most expensive cities for square footage are Vancouver ($3.75/sq. ft.), North Vancouver ($3.71/sq.ft.), and Burnaby ($3.55/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 June 2026, apartments were the most common rental property type, representing 69.78% of active listings on the market. Partial houses were the second-most rented unit type this month, at 16.14% of active listings currently available to rent, followed by houses at 10.01%.

Active listings by number of bedrooms

In terms of the number of bedrooms, we saw a spread across active listings on the market this June. One-bedroom units were the most common type of listing this month at 47.10%, though two-bedroom units held a very near share, representing 42.20% of all active listings on the market. Three-bedrooms rounded out at 10.69% of listings.

Average unfurnished vs. furnished rates

Average prices for both a furnished and unfurnished one-bedroom unit increasedin Metro Vancouver this month. Furnished one-bedrooms increased (1.13%) to $2,189/month, while unfurnished units increased (0.23%) to $2,090/month. Currently, a furnished one-bedroom unit rents for more than an unfurnished one-bedroom unit by $99/month on average.

Looking for our full June 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 increased across neighbourhoods except Burnaby, Langley, and West Vancouver.
• Meanwhile, all unfurnished three-bedroom units increased across neighbourhoods except Coquitlam, Langley, and Surrey.
• All furnished and unfurnished units in the city of Vancouver increased in 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 Point Grey/UBC is the city’s most expensive neighbourhood to rent in this month, with an unfurnished one-bedroom unit renting for $2,794/month, while Sunset-Victoria Fraserview is the cheapest at $1,766/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 June, the top 4 of the country’s most expensive cities are located in Metro Vancouver as West Vancouver claims the top spot as the most expensive city in the country to rent in, followed by North Vancouver, Vancouver, and Richmond with Burlington, Ontario rounding out the top 5.

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 fairly spread between those aged 25-34, and those aged between 35-44 with the majority being in the latter age range. 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 June, other rental platforms had just 21.00% of units available that were pet-friendly, while on liv.rent, 52% 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 June 2026 Metro Vancouver Rent Report appeared first on liv.rent blog.

• Metro Vancouver rents continue to decline across all unit types
  • Rents across Metro Vancouver have declined compared to last year, with one-bedroom units falling to $2,086 (-8.31%), two-bedroom units to $2,696 (-5.30%), and three-bedroom units to $3,513 (-4.04%). This broad-based drop reflects continued easing in rental demand across the region.
    
• Core and suburban markets show diverging rental trends
  • While the City of Vancouver saw month-over-month declines across all major unit types, some suburban markets showed mixed movement. Surrey two-bedroom rents increased to $2,118 (+1.05%), and New Westminster three-bedroom units rose to $3,349 (+1.98%), highlighting uneven demand across the region.
    
• Larger rental units are seeing the biggest price corrections
  • Three-bedroom units have experienced the most significant adjustments, declining to $3,513 (-2.14%) since the start of the year and dropping as much as -18.96% in Burnaby year over year. This suggests pricing pressure is more pronounced in higher-priced segments of the market.
    

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 April 29, 2026, the Bank of Canada maintains its policy interest rate at 2.25%, unchanged for the fourth consecutive decision. Experts predict this rate will be maintained through most of 2026. Additionally, the 2026 rent increase limit is capped at 2.3%.

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

Average rent across Metro Vancouver

This month, the average rent price for an unfurnished, one-bedroom unit went down by $4, to a new average of $2,086/month. Since May 2025, Metro Vancouver’s average rate for an unfurnished one-bedroom unit has decreased by $189.

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, Burnaby (5.06%) and Surrey (4.37%) saw slight increases, while New Westminster (-5.10%) and Langley (-2.56%) saw marginal decreases.

Looking now at unfurnished one-bedroom units, West Vancouver (+2.30%) and New Westminster (+1.46%) were the only cities that saw a positive increase.

Looking now at unfurnished one-bedroom units, Burnaby (-0.27%), North Vancouver (-0.23%), Langley (-2.03%), and Surrey (-0.29%) saw minor decreases. West Vancouver (2.30%) and New Westminster (1.46%) all recorded increases.

Rent per square foot

Where’s the cheapest place to rent in Metro Vancouver based on how much space you get? As of May 2026, the average rent per square foot increased up to $3.11/sq. ft.. The least expensive cities for square footage are West Vancouver ($2.40/sq. ft.), Langley ($2.55/sq. ft.), and Richmond ($2.68/sq.ft.). Meanwhile, the most expensive cities for square footage are Vancouver ($3.87/sq. ft.), North Vancouver ($3.69/sq.ft.), and Burnaby ($3.59/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 May 2026, apartments were the most common rental property type, representing 71.60% of active listings on the market. Partial houses were the second-most rented unit type this month, at 16.24% of active listings currently available to rent, followed by houses at 7.87%.

Active listings by number of bedrooms

In terms of the number of bedrooms, we saw a spread across active listings on the market this May. One-bedroom units were the most common type of listing this month at 46.45%, though two-bedroom units held a very near share, representing 43.03% of all active listings on the market. Three-bedrooms rounded out at 10.52% of listings.

Average unfurnished vs. furnished rates

Average prices for a furnished one-bedroom unit increased while unfurnished one-bedroom units dropped in Metro Vancouver this month. Furnished one-bedrooms increased (0.56%) to $2,165/month, while unfurnished units went down (-0.20%) to $2,086/month. Currently, a furnished one-bedroom unit rents for more than an unfurnished one-bedroom unit by $79/month on average.

Looking for our full May 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 decreased across neighbourhoods except West Vancouver and New Westminster.
• Meanwhile, all unfurnished three-bedroom units decreased across neighbourhoods except Surrey, North Vancouver, New Westminster, and Langley.
• All furnished units in Vancouver increased in price, while all unfurnished 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 $2,833/month, while Sunset-Victoria Fraserview is the cheapest at $1,727/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 May, all 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 fairly 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 May, other rental platforms had just 22.00% 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 May 2026 Metro Vancouver Rent Report appeared first on liv.rent blog.

• Core Vancouver rents continue to trend lower year-over-year
  • Unfurnished one-bedroom rents declined across central areas. Downtown dropped from $2,718/month in April 2025 to $2,387/month in April 2026 (−12%), while the West End fell from $2,575/month to $2,396/month (−7%). Two-bedroom unfurnished rents also eased, confirming ongoing cooling in core neighbourhoods.
    
• Burnaby hubs show mixed movement but remain below earlier highs
  • Brentwood and Metrotown are stabilizing after earlier declines. Brentwood’s one-bedroom unfurnished held steady at $2,187/month, while Metrotown sits at $2,164/month, largely unchanged. Two-bedroom unfurnished rents in both areas remain below earlier 2025 levels, suggesting prices have not fully recovered.
    
• Outer markets maintain affordability with further rent declines
  • Surrey and Fraser Valley areas remain significantly cheaper and continue to ease. Surrey City Centre dropped from $1,903/month to $1,707/month (−10%), while Abbotsford fell from $1,576/month to $1,514/month (−4%). These areas continue to offer the lowest rents in the region despite ongoing declines.
    

liv.rent’s 2026 Canada Rental Market Trends Report is now live.

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. Experts predict this rate will be maintained through most of 2026. Additionally, the 2026 rent increase limit is capped at 2.3%.

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

Average rent across Metro Vancouver

This month, the average rent price for an unfurnished, one-bedroom unit went up by $29, to a new average of $2,090/month. Since April 2025, Metro Vancouver’s average rate for an unfurnished one-bedroom unit has decreased by $188.

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.

>> Recommended Reading: Rent Increase BC 2026: How much rent can your landlord Increase?

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, Langley (-8.22%), Coquitlam (-2.38%), and Richmond (-2.29%). Meanwhile, Burnaby (2.42%), Vancouver (2.14%) and Surrey (1.47%) saw increases.

Looking now at unfurnished one-bedroom units, New Westminster (-0.96%), Burnaby (-0.92%) and North Vancouver (-0.67%), saw minor decreases. Langley (4.32%), West Vancouver (3.37%), and Surrey (2.71%) all recorded increases.

Read More: The Ultimate Renter’s Guide To Using liv.rent

Rent per square foot

Where’s the cheapest place to rent in Metro Vancouver based on how much space you get? As of April 2026, the average rent per square foot dropped to $2.90/sq. ft.. The least expensive cities for square footage are Surrey ($2.05/sq. ft.), Langley ($2.63/sq. ft.), and Richmond ($2.68/sq.ft.). Meanwhile, the most expensive cities for square footage are Vancouver ($4.05/sq. ft.), Burnaby ($3.44/sq. ft.), and West Vancouver ($2.95/sq. ft.).

Is your rental priced competitively?

Find out with a free rent estimate. Our team of rental experts will calculate your unit’s true value based on your listing details & current market trends.

Get Your Free Estimate

Read More: Landlord Guide: How Much Should I Charge For Rent?

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 April 2026, apartments were the most common rental property type, representing 66.81% of active listings on the market. Partial houses were the second-most rented unit type this month, at 18.73% of active listings currently available to rent, followed by houses at 8.70%.

Active listings by number of bedrooms

In terms of the number of bedrooms, we saw a spread across active listings on the market this April. One-bedroom units were the most common type of listing this month at 46.08%, though one-bedroom units held a very near share, representing 43.60% of all active listings on the market. Three-bedrooms rounded out at 10.33% of listings.

Average unfurnished vs. furnished rates

Average prices for a furnished one-bedroom unit increased while unfurnished one-bedroom units dropped in Metro Vancouver this month. Furnished one-bedrooms dropped (-0.95%) to $2,153/month, while unfurnished units went up (1.38%) to $2,090/month. Currently, a furnished one-bedroom unit rents for more than an unfurnished one-bedroom unit by $63/month on average.

Is your rental priced competitively?

Find out with a free rent estimate. Our team of rental experts will calculate your unit’s true value based on your listing details & current market trends.

Get Your Free Estimate

Looking for our full April 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 increased across neighbourhoods except Burnaby, New Westminster, and North Vancouver .
• Meanwhile, all unfurnished three-bedroom units increased across neighbourhoods except Burnaby, Surrey, and West Vancouver.
• All furnished and unfurnished units in Vancouver increased in price except for furnished three-bedrooms.

Gain comprehensive insights about your listings with the new liv.rent Landlord listing Dashboard. Sign in to unlock live insights – find out the average rent for a comparable property, number of views your listing received and more!

Learn More

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 $2,880/month, while Sunset-Victoria Fraserview is the cheapest at $1,703/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 April, all 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 fairly 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 April, other rental platforms had just 24.00% of units available that were pet-friendly, while on liv.rent, 56.00% of all listed units were pet-friendly.

>> Recommended Reading: The Top 8 Pet Friendly Neighbourhoods in Metro Vancouver

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Downloadable resources

Download The Latest Vancouver Rent Report

For the complete Vancouver rent report including new neighbourhood breakdowns, download here.

Download Report

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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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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.

Learn More

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 April 2026 Metro Vancouver Rent Report appeared first on liv.rent blog.

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