BC Rental Market Data
Metro Vancouver rents are down 10.6% year-over-year. Here is what the numbers look like across 16 cities as of March 2026.
Market Overview
Avg 1-Bedroom
$2,061
Avg 2-Bedroom
$2,695
Vacancy Rate
3.7%
Metro Vancouver avg
1BR Range
$1,650 - $2,430
Maple Ridge to West Vancouver
Average Rent by City
Monthly unfurnished rents across 16 Metro Vancouver municipalities. Click any column header to sort.
| Burnaby | $1,750 | $2,142 | $2,950 | $3,900 | $3,700 | $4,500 |
| Coquitlam | $1,700 | $1,950 | $2,600 | $3,500 | $3,300 | $4,100 |
| Delta | $1,700 | $1,950 | $2,500 | $3,400 | $3,200 | $4,000 |
| Langley City | $1,600 | $1,826 | $2,282 | $3,040 | $2,900 | $3,600 |
| Maple Ridge | $1,550 | $1,650 | $2,200 | $2,950 | $2,800 | $3,500 |
| New Westminster | $1,650 | $1,868 | $2,400 | $3,200 | $3,100 | $3,800 |
| North Vancouver | $1,900 | $2,353 | $3,200 | $4,300 | $3,900 | $5,000 |
| Pitt Meadows | $1,600 | $1,750 | $2,300 | $3,050 | $2,900 | $3,600 |
| Port Coquitlam | $1,650 | $1,900 | $2,500 | $3,350 | $3,200 | $3,900 |
| Port Moody | $1,750 | $2,050 | $2,750 | $3,700 | $3,500 | $4,300 |
| Richmond | $1,850 | $2,100 | $2,850 | $3,800 | $3,600 | $4,500 |
| Surrey | $1,500 | $1,664 | $2,124 | $2,828 | $2,900 | $3,600 |
| Township of Langley | $1,650 | $1,850 | $2,350 | $3,150 | $3,000 | $3,800 |
| Vancouver | $1,850 | $2,215 | $3,355 | $4,400 | $3,900 | $5,200 |
| West Vancouver | $2,000 | $2,430 | $3,400 | $4,800 | $4,300 | $5,800 |
| White Rock | $1,750 | $1,918 | $2,550 | $3,500 | $3,300 | $4,100 |
All figures represent average monthly asking rents for unfurnished units. Sources: liv.rent, Rentals.ca (March 2026).
Rent Trends
Metro Vancouver average asking rents over the past 12 months.
- 1-Bedroom Avg
- 2-Bedroom Avg
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 continued their year-over-year decline in March 2026, with the average unfurnished one-bedroom falling to $2,061 per month, down 10.6% compared to March 2025. This marks the 28th consecutive month of annual rent declines in the region. The CMHC reported Metro Vancouver's purpose-built rental vacancy rate reached 3.7% in late 2025, the highest level since 1988, driven by a surge of new rental supply (25,855 new purpose-built rentals registered in BC in 2025) combined with reduced demand from lower international arrivals. West Vancouver remains the most expensive Metro Vancouver market, while Maple Ridge, Surrey, and Langley offer the most affordable options for landlords and tenants.
What It Means for Landlords
For BC landlords, this is a meaningfully different market than 2022-2023. Properties are taking longer to rent, tenants have more options, and pricing aggressively above market risks extended vacancy. The 2026 BC annual rent increase cap remains 2.3%, but many landlords are finding that holding rents flat or offering minor incentives (one month free, flexible move-in dates) results in better overall returns than pushing asking rents to the legal maximum. Professional marketing and screening is more important than ever. Landlords who priced correctly and presented well continue to lease quickly; those who overprice are facing vacancies measured in months, not weeks.
Not sure how to price your rental in this market?
Get a Free Rental EstimateData Sources and Methodology
liv.rent March 2026 Metro Vancouver Rent Report
Rentals.ca March 2026 National Rent Report
Canada Mortgage and Housing Corporation (CMHC) Rental Market Report 2025 (released January 2026)
BC Government Ministry of Housing statements (March 14, 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: May 15, 2026
Related Resources
Free Landlord Tools
BC Rent Increase Calculator
Calculate the maximum allowable rent increase for your BC rental property.
Cashflow Calculator
Run a full cashflow analysis comparing professional management vs self-managing.
Cap Rate Calculator
Calculate your property's capitalization rate and compare to Vancouver benchmarks.
Mortgage vs Rent Calculator
Compare mortgage costs against rental income to decide whether to sell or rent.
Need Help Navigating This Market?
Whether you are pricing a new listing or reviewing your current rent, our team can help you make data-informed decisions.