Average Rent in Vancouver

As of August 2026, Vancouver's average asking rent for apartments and condos is about $2,704 a month, down roughly 4.1% from a year earlier, per the Rentals.ca and Urbanation National Rent Report (September 2026 edition, analyzing August 2026 data). By unit size, Rentals.ca put Vancouver's average one-bedroom asking rent at $2,350 and two-bedroom at $3,248 for the same month. A separate, non-comparable measure from CMHC's Rental Market Survey (October 2025 survey) tracks the entire existing purpose-built rental stock rather than only new listings, and puts Vancouver's average two-bedroom rent at $2,363, with a purpose-built vacancy rate of 3.7%. Vancouver remains Canada's most expensive major rental market by both measures.

CMHC's Rental Market Report averages rent across the entire purpose-built rental stock, including long-tenured tenants whose rent increases are capped under British Columbia's Residential Tenancy Act (2.3% for 2026, 2.2% for 2027) -- a lower, stickier number reflecting what the average existing renter actually pays. Rentals.ca's National Rent Report instead tracks asking rents on units currently listed for rent, which reflects the market-clearing price for someone renting today. In Vancouver specifically, this gap is wide: the rent-increase cap holds in-place rents well below asking prices, so the two figures diverge more than in most Canadian cities. Vancouver's purpose-built rents were down about 19% from their July 2023 peak as of the same September 2026 report.

• Studio (CMHC, Oct 2025): $1,667/month
• 1 bedroom (CMHC, Oct 2025): $1,806/month
• 1 bedroom asking rent (Rentals.ca, Aug 2026): $2,350/month
• 2 bedroom (CMHC, Oct 2025): $2,363/month
• 2 bedroom asking rent (Rentals.ca, Aug 2026): $3,248/month
• 3 bedroom or more (CMHC, Oct 2025): $2,820/month

The CMHC studio and 3-bedroom-plus figures above are reported by a third-party compilation of CMHC's October 2025 survey table rather than read directly from CMHC's own portal, and are presented accordingly.

Two Vancouver-area submarkets see enough standalone rental demand to be worth calling out on their own. North Vancouver (across the harbour from Vancouver proper, and made up of the separate City of North Vancouver and District of North Vancouver) was Canada's single most expensive submarket to rent in July 2026, with a one-bedroom asking rent around $2,588, higher than Vancouver proper's one-bedroom average. Downtown Vancouver, including the West End and Yaletown, continues to command Vancouver's highest rents within the city itself, alongside Kitsilano and Mount Pleasant, while East Vancouver typically offers the largest rent gap per bedroom versus the downtown core.