Vancouver one-bedrooms rent rises to $2,410 as B.C. supply pipeline weighs on prices

Vancouver rental prices moved upward in July, continuing a summer trend of month-over-month increases that reverses earlier declines.

According to Zumper, a digital marketplace for renters and property managers, rents for a one-bedroom unit in Vancouver rose 0.4 per cent in July, reaching a median of $2,410 per month — up from $2,400 in June. Two-bedroom rents climbed 0.9 per cent, up from $3,370 in June to $3,400 in July.

The July increase follows June's steeper month-over-month rise, where one-bedroom prices jumped 2.1 per cent. However, the year-over-year picture remains favourable for renters: Vancouver one-bedrooms are down 3.6 per cent compared to July 2025, and two-bedrooms are down 2.6 per cent.

Across the broader Metro Vancouver region, Burnaby has posted the sharpest annual decline. Although Burnaby ranks as the second most expensive city on Zumper's list of Canadian cities (after Vancouver), one-bedroom rents have dropped eight per cent year-over-year, with two-bedroom rents down 5.2 per cent.

Zumper attributes the softening to reduced temporary residents lowering overall population growth and falling demand from new renters. Experts also point to record-number purpose-built rental completions across the province. "The province's record supply pipeline is still expected to weigh on rents, but the annual comparisons are becoming less punishing as they lap last summer's declines," Zumper's report stated.

Other B.C. cities saw mixed results: Victoria one-bedrooms rose 0.5 per cent to $1,990; Kelowna increased 0.6 per cent to $1,790; and Abbotsford held flat month-over-month.

As HighOnCity reported in August, B.C. rents have declined substantially since earlier peaks, with Metro Vancouver suburbs seeing sharper annual drops than the city proper.