Rent in B.C. and Vancouver is falling faster than anywhere else in Canada, according to a new report from Rentals.ca and Urbanation, which looked into rental prices and trends across the country for July 2026.
But in spite of this fall, the province still holds the number-one title for having the most expensive average rental prices in Canada.
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Falling Average Rent Prices in B.C.
You probably won’t be surprised to hear that B.C., and by extension Vancouver, has the highest average rent in the entire country. At $2,723, that places it well over $1,000 more than the lowest average listed rental prices on the report, which would be Regina at $1,457.
Despite this, rental prices in B.C. are falling at the fastest rate in Canada at 5.3% so far this year, alongside Ontario. Although on an annual basis, Calgary saw the largest decline among the six largest markets, with Vancouver and Edmonton following behind.
The year-over-year decline for Vancouver is sitting at 4.5%.
Rent Remaining Sky-High in Vancouver
Regardless of these drops in rental prices, Vancouver is still the king of being the most expensive place to rent in Canada. More specifically, it’s North Vancouver that holds that title at $2,944 per month.
Other Metro Vancouver cities were included in the report’s list of the top-five most expensive rental markets in Canada. “North York ($2,559) and Kanata ($2,532) have both climbed into the top five most expensive rental markets in the country, rounding out the list alongside Richmond ($2,541) and Burnaby ($2,521). Other B.C. markets among the highest-priced (excluding the six largest markets) were Coquitlam ($2,459) and Victoria ($2,245).”
You can check out the entire report here.
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