While Metro Vancouver remains one of Canada’s most expensive places to rent, average rents have been trending downward since peaking in 2024.

The average monthly rent for an unfurnished one-bedroom has fallen from $2,377 in 2024 to $2,223 in 2025, and now sits at $2,090 in 2026 (a decline of nearly 12% over two years)

2026 Rental Rates (Unfurnished): Metro Vancouver Average = 1-Bedroom: $2,090/month

Vancouver
1-Bedroom: $2,287
2-Bedroom: $3,046
3-Bedroom: $3,767

North Vancouver
1-Bedroom: $2,365
2-Bedroom: $3,286
3-Bedroom: $4,552

West Vancouver
1-Bedroom: $2,538
2-Bedroom: $3,616
3-Bedroom: $4,954

Burnaby
1-Bedroom: $2,096
2-Bedroom: $2,530
3-Bedroom: $3,229

Coquitlam
1-Bedroom: $1,989
2-Bedroom: $2,388
3-Bedroom: $3,013

2025 Rental Rates (Unfurnished): Metro Vancouver Average = 1-Bedroom: $2,223/month

Vancouver
1-Bedroom: $2,436
2-Bedroom: $3,043
3-Bedroom: $3,682

North Vancouver
1-Bedroom: $2,473
2-Bedroom: $3,460
3-Bedroom: $4,249

West Vancouver
1-Bedroom: $2,598
2-Bedroom: $3,578
3-Bedroom: $5,011

Burnaby
1-Bedroom: $2,249
2-Bedroom: $2,782
3-Bedroom: $3,632

Coquitlam
1-Bedroom: $1,995
2-Bedroom: $2,505
3-Bedroom: $3,475

2024 Rental Rates (Unfurnished): Metro Vancouver Average = 1-Bedroom: $2,377/month

Vancouver
1-Bedroom: $2,587
2-Bedroom: $3,337
3-Bedroom: $3,806

North Vancouver
1-Bedroom: $2,682
2-Bedroom: $3,543
3-Bedroom: $4,254

West Vancouver
1-Bedroom: $2,694
2-Bedroom: $3,858
3-Bedroom: $4,017

Burnaby
1-Bedroom: $2,495
2-Bedroom: $3,167
3-Bedroom: $3,656

Coquitlam
1-Bedroom: $2,055
2-Bedroom: $2,794
3-Bedroom: $2,603

Today’s renters have more options than they did two years ago, making pricing and marketing more important than ever.

Rather than relying on last year’s rental rates, landlords should look at current market conditions before setting their asking price.

Curious what your specific property is worth in the current rental market? Contact us at info@brixpm.ca