Metro Vancouver rents tick up month-over-month after months of consecutive declines
North Vancouver leads at $2,457 for a one-bedroom; Vancouver follows at $2,392, both down year-over-year.
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Some Metro Vancouver municipalities have seen a slight uptick in average rent prices in the past month, bucking a trend of consecutive declines.
A new National Rent Report from Rentals.ca and Urbanation shows mixed results across the region for June. In North Vancouver—the most expensive rental market in Canada—a one-bedroom averaged $2,457 per month, down 5.5 per cent year-over-year but up 0.5 per cent month-over-month. Two-bedroom units averaged $3,363, up 1.8 per cent from May to June.
Vancouver, the second most expensive market in Canada, also followed this month-over-month increase trend. A one-bedroom averaged $2,392 in June, down 5.4 per cent year-over-year but up 0.3 per cent month-over-month. Two-bedroom units averaged $3,336, up 0.2 per cent month-over-month but up 1.5 per cent year-over-year.
Burnaby saw stronger month-over-month growth, with one-bedroom units at $2,135 (up 1 per cent from May) and two-bedroom units at $2,766 (up 1.4 per cent), though both remain significantly lower than the prior year.
Some municipalities continued to see month-over-month declines. In Coquitlam, one-bedroom units dropped 2.1 per cent to $2,083. Langley saw a one-bedroom decline to $1,965 (down 0.5 per cent), and Surrey reported a one-bedroom average of $1,803 (down 0.5 per cent).
Experts attribute these broader rent declines to the federal government's policy shift to reduce non-permanent residents, including international students and temporary workers, combined with record purpose-built rental completions. Despite the declines, Rentals.ca notes that the rental market remains out of step with renter budgets—72 per cent of respondents in its Spring 2026 survey were looking for rentals at $2,000 or less.
