BC Rental Market Data
Metro Vancouver rents are down 5.98% year-over-year. Here is what the numbers look like across 16 cities as of June 2026.
Turnover used to be a raise. Now it is a bill.
For fifteen years, a BC landlord losing a tenant was almost an opportunity. Vacancy was under one percent, the unit re-let in a week, and it re-let higher. Rent could only be raised once a year on a sitting tenant, so turnover was how you got back to market.
That has inverted.
Metro Vancouver purpose built rental vacancy reached 3.7 percent in 2025, the highest in more than thirty years, and well above CMHC's own forecast of 2.1 to 2.4 percent. Rental turnover rose across every unit type. Over the same period British Columbia led the country in asking rent declines.
So an empty unit now costs twice. It costs the weeks it sits, and then it re-lets for less than the tenant who left was paying. The 2026 maximum allowable increase on a sitting tenant is 2.3 percent, which means the only moment a landlord reaches market is a turnover that has become the expensive outcome.
Which is why the thing worth optimising is no longer the rent. It is how long a good tenant stays.
3.7%
Metro Vancouver rental vacancy, 2025. Highest in over 30 years.
2.3%
Maximum allowable rent increase on a sitting tenant, 2026.
$95
What a day of vacancy costs on a $2,900 unit. Rent x 12 / 365.
Sources: CMHC 2025 Rental Market Report. Province of British Columbia, maximum allowable rent increase 2026.
What we do about it.
Every part of how we work is pointed at tenancy length rather than headline rent. We screen for people who stay, not just people who can pay this month. We price against sourced comparables so a unit is not sitting at the wrong number. And if a tenant breaks a fixed term early, we re-lease it at no charge to you.
Book a Free Rental AnalysisMarket Overview
Avg 1-Bedroom
$2,090
Avg 2-Bedroom
$2,750
Vacancy Rate
3.7%
Metro Vancouver avg
1BR Range
$1,714 - $2,538
Surrey to West Vancouver
Average Rent by City
Monthly unfurnished rents across 16 Metro Vancouver municipalities. Click any column header to sort.
| Burnaby | $1,750 | $2,096 | $2,530 | $3,229 | $3,700 | $4,500 |
| Coquitlam | $1,700 | $1,989 | $2,388 | $3,013 | $3,300 | $4,100 |
| Delta | $1,700 | $1,950 | $2,500 | $3,400 | $3,200 | $4,000 |
| Langley City | $1,550 | $1,744 | $2,292 | $3,123 | $2,900 | $3,600 |
| Maple Ridge | $1,500 | $1,650 | $2,200 | $2,900 | $2,800 | $3,500 |
| New Westminster | $1,650 | $1,934 | $2,498 | $3,372 | $3,200 | $3,900 |
| North Vancouver | $1,950 | $2,365 | $3,286 | $4,552 | $4,000 | $5,100 |
| Pitt Meadows | $1,550 | $1,700 | $2,250 | $3,000 | $2,900 | $3,600 |
| Port Coquitlam | $1,650 | $1,900 | $2,400 | $3,100 | $3,200 | $3,900 |
| Port Moody | $1,750 | $2,050 | $2,650 | $3,500 | $3,500 | $4,300 |
| Richmond | $1,850 | $2,148 | $2,678 | $3,529 | $3,600 | $4,500 |
| Surrey | $1,500 | $1,714 | $2,144 | $2,792 | $2,900 | $3,600 |
| Township of Langley | $1,600 | $1,780 | $2,350 | $3,150 | $3,000 | $3,800 |
| Vancouver | $1,900 | $2,287 | $3,046 | $3,767 | $3,900 | $5,200 |
| West Vancouver | $2,100 | $2,538 | $3,616 | $4,954 | $4,400 | $5,900 |
| White Rock | $1,750 | $1,950 | $2,550 | $3,500 | $3,300 | $4,100 |
All figures represent average monthly asking rents for unfurnished units. Sources: liv.rent, Rentals.ca (June 2026).
Rent Trends
Metro Vancouver average asking rents over the past 12 months.
Vacancy Rates by Municipality
Purpose-built rental apartment vacancy rates from the most recent CMHC survey.
| Municipality | Vacancy Rate | Source |
|---|---|---|
| Metro Vancouver | 3.7% | CMHC Rental Market Report 2025 (released Jan 2026) |
| Vancouver | 3.2% | CMHC 2025 |
| Burnaby | 3.5% | CMHC 2025 |
| Surrey | 4.1% | CMHC 2025 |
| Richmond | 3.4% | CMHC 2025 |
| Coquitlam | 3.8% | CMHC 2025 |
| North Vancouver | 3.3% | CMHC 2025 |
| New Westminster | 4% | CMHC 2025 |
What the Data Means
Market Summary
Metro Vancouver rents have stabilized in June 2026, with the average unfurnished one-bedroom at $2,090 per month, down 5.98% year-over-year from June 2025. This marks the 30th consecutive month of annual rent declines in the region, though the pace of decline has slowed considerably from double-digit drops earlier in the year. The Bank of Canada interest rate sits at 2.25%, and the CMHC-reported vacancy rate remains at 3.7% (highest since 1988). West Vancouver commands the highest rents ($2,538 for a 1BR), while Surrey ($1,714) and Langley ($1,744) remain the most affordable. Langley experienced the steepest year-to-date decline at -13.71%, while Vancouver saw modest monthly increases of 2.78%.
What It Means for Landlords
For BC landlords, the market is showing signs of stabilization after 18 months of correction. Month-over-month rents are now flat to slightly positive in most cities, suggesting the bottom may be near. However, year-over-year declines persist, and tenants still have more options than in 2022-2023. The 2026 BC annual rent increase cap remains 2.3%. Landlords who price competitively and invest in professional marketing and presentation continue to lease quickly. Those in premium markets (West Vancouver, North Vancouver, Vancouver) are seeing renewed demand, while suburban markets like Langley and Surrey remain soft. Professional property management that includes accurate market pricing, quality photography, and thorough screening is the difference between a 2-week lease-up and a 2-month vacancy.
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Data Sources and Methodology
liv.rent June 2026 Metro Vancouver Rent Report (published June 16, 2026)
Rentals.ca June 2026 National Rent Report (released June 8, 2026)
Canada Mortgage and Housing Corporation (CMHC) Rental Market Report 2025 (released January 2026)
CMHC 2026 Mid-Year Rental Market Update (June 9, 2026)
BC Government Ministry of Housing statements (June 8, 2026)
Methodology: Rent averages are compiled from multiple public sources including liv.rent, Rentals.ca, and CMHC. Where sources report different figures for the same metric, we use the midpoint or the source with the strongest methodology for that specific data point. Vacancy rates are from the most recent CMHC Rental Market Survey (annual, released January 2026 for the October 2025 survey period).
All rent figures represent average monthly asking rents for unfurnished units. Actual rents may vary based on unit condition, location within the municipality, building age, and amenities. This page is updated monthly when new data becomes available.
Next scheduled update: July 15, 2026
Related Resources
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