➤ Metro Vancouver rents continue to decline across all unit types: Rents across Metro Vancouver have declined compared to last year, with one-bedroom units falling to $2,086 (-8.31%), two-bedroom units to $2,696 (-5.30%), and three-bedroom units to $3,513 (-4.04%). This broad-based drop reflects continued easing in rental demand across the region.

➤ Core and suburban markets show diverging rental trends: While the City of Vancouver saw month-over-month declines across all major unit types, some suburban markets showed mixed movement. Surrey two-bedroom rents increased to $2,118 (+1.05%), and New Westminster three-bedroom units rose to $3,349 (+1.98%), highlighting uneven demand across the region.

➤ Larger rental units are seeing the biggest price corrections: Three-bedroom units have experienced the most significant adjustments, declining to $3,513 (-2.14%) since the start of the year and dropping as much as -18.96% in Burnaby year over year. This suggests pricing pressure is more pronounced in higher-priced segments of the market.

May 2026 Average Rent Prices (unfurnished):

Vancouver
1-Bedroom: $2,226
2-Bedroom: $3,009
3-Bedroom: $3,591

North Vancouver
1-Bedroom: $2,332
2-Bedroom: $3,345
3-Bedroom: $4,227

West Vancouver
1-Bedroom: $2,569
2-Bedroom: $3,379
3-Bedroom: $4,891

Burnaby
1-Bedroom: $2,117
2-Bedroom: $2,539
3-Bedroom: $3,040

Coquitlam
1-Bedroom: $1,937
2-Bedroom: $2,378
3-Bedroom: $3,114

Looking for more information on a specific neighbourhood? Contact us at info@brixpm.ca