The latest numbers are in – here’s what’s happening across Metro Vancouver

➤ Unfurnished one-bedroom rents declined across every Metro Vancouver city year-over-year: All nine cities recorded lower unfurnished one-bedroom rents compared with July 2025, with declines ranging from 2.3% in Coquitlam to 10.1% in New Westminster. Across the nine municipalities, rents decreased by an average of approximately 6.5%.

➤ Burnaby shows the most consistent signs of rental-market softness: Burnaby rents declined across all six rental categories between January and July. Its largest start-of-year decrease was for furnished three-bedroom homes, which fell 12.4% from $3,476 to $3,046. Compared with July 2025, furnished three-bedroom rents were down approximately 20.2% from $3,815 to $3,046, the largest individual decline in the dataset.

➤ Surrey’s furnished rental market is outperforming its unfurnished market: Since January, Surrey’s furnished one-bedroom rents increased 9.4% from $1,772 to $1,939, while furnished two-bedroom rents rose 9.6% from $2,106 to $2,309. By comparison, unfurnished one-bedroom rents increased only 1.2%, while unfurnished two-bedroom rents decreased 2.5%

July 2026 Average Rent Prices (unfurnished):

Vancouver
1-Bedroom: $2,293
2-Bedroom: $2,998
3-Bedroom: $3,681

North Vancouver
1-Bedroom: $2,301
2-Bedroom: $3,174
3-Bedroom: $4,510

West Vancouver
1-Bedroom: $2,524
2-Bedroom: $3,373
3-Bedroom: $4,987

Burnaby
1-Bedroom: $2,077
2-Bedroom: $2,562
3-Bedroom: $3,226

Coquitlam
1-Bedroom: $1,999
2-Bedroom: $2,403
3-Bedroom: $3,200

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