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Metro Vancouver rental update: October 2026

Published 2026-10-22

Rents across Metro Vancouver barely moved in October. The average one-bedroom is still well below last year, and it has now held in a narrow band since the spring. Here are the numbers that matter for landlords and renters.

The headline numbers

$2,0831-bedroom, unfurnishedDown 0.1% from September, and 6.3% below October 2025 ($2,223)

$2,1511-bedroom, furnishedDown 1.3% from September

$2.73average rent per square footHighest in Vancouver ($3.50) and North Vancouver ($3.49), lowest in West Vancouver ($2.10) and Surrey ($2.15)

72%of listings are apartmentsPartial houses (suites) 17% · houses 7% · townhouses 4%

Six months of flat rents

The average unfurnished one-bedroom has stayed between $2,083 and $2,098 every month since May. A year ago the same months ran from $2,171 to $2,275, so today's rents are roughly $90 to $190 a month lower than last year.

1-bedroom, unfurnished	2026	2025	Difference
May	$2,086	$2,275	−$189
June	$2,090	$2,223	−$133
July	$2,089	$2,232	−$143
August	$2,098	$2,206	−$108
September	$2,085	$2,171	−$86
October	$2,083	$2,223	−$140

Rents by city

Unfurnished, October 2026	1 bedroom	2 bedrooms	3 bedrooms
West Vancouver	$2,532	$3,439	$5,128
North Vancouver	$2,452	$3,333	$4,425
Vancouver	$2,329	$3,125	$3,682
Burnaby	$2,054	$2,575	$3,288
Coquitlam	$2,004	$2,357	$3,063
Richmond	$1,943	$2,724	$3,581
New Westminster	$1,889	$2,453	$3,179
Langley	$1,820	$2,246	$2,875
Surrey	$1,720	$2,108	$2,904

West Vancouver, North Vancouver and Vancouver are the three most expensive cities in Canada for a one-bedroom, ahead of Burlington ($2,106) and Markham ($2,081) in Ontario. Within the City of Vancouver, the priciest one-bedrooms are in West Point Grey/UBC ($2,600), Kitsilano ($2,534), the West End ($2,513), Downtown ($2,496) and Oakridge ($2,450). The most affordable in the region are in Surrey and Richmond: Newton ($1,449), Fleetwood ($1,596), Guildford ($1,630) and Golden Village ($1,684).

What it means

Almost 90% of the homes for rent are one- and two-bedroom units, so small suites face the most competition. Three-bedroom homes make up only about 10% of listings and still command a premium in most cities.

If you are a landlord

Price against this month's listings, not last year's lease. A unit priced $100 too high can sit empty for weeks, and a month of vacancy costs more than a small rent cut. Good photos, a clean suite and a quick response to enquiries now make the difference, especially for one-bedrooms.

If you are renting

You have choice and some room to negotiate, particularly on one- and two-bedroom apartments. Compare a few neighbourhoods: moving a SkyTrain stop or two can save several hundred dollars a month. Have your references and documents ready so you can act on the right place.

Source: liv.rent Metro Vancouver Rent Report, October 2026 (asking rents on liv.rent and various online sources). Figures are average asking rents for listings in Metro Vancouver, not rents on signed leases. For your own rental, get a free rental analysis.