Rental prices in Metro Vancouver continue sliding: report
Posted February 18, 2026 7:26 am.
Last Updated February 18, 2026 7:43 am.
Good news if you’re looking for a place to rent in one of the most expensive regions in the country.
New data from liv.rent shows prices continue to decline in Metro Vancouver and parts of the Fraser Valley.
CLICK HERE TO LISTEN TO 1130 NEWSRADIO VANCOUVER LIVE!Unfurnished one-bedroom rents in Downtown Vancouver went from $2,706 a month last February to $2,457 a month year-over-year — that’s a drop of nine per cent.
In the city’s West End, rates fell from $2,562 to $2,337. Experts say unfurnished two-bedroom rents also softened.
A similar trend in Burnaby, Surrey and Abbotsford, showcasing a bit more affordability in the region. liv.rent says bigger units in the Brentwood and Metrotown areas “remain weak,” while rents have dropped by 10 per cent compared to the same time last year.
“More affordable suburban areas posted some of the sharpest drops in unfurnished one-bedroom rents. Surrey City Centre fell from $1,984/month to $1,701 (-14%), Abbotsford from $1,669 to $1,496 (-10%), and Guildford from $1,704 to $1,637 (-4%). These declines suggest affordability has improved most in outer markets,” the report said.
With interest rates dropping last year, liv.rent predicts that rental prices will continue sliding this year, but that doesn’t mean it’s cheap to live here — it’s just cheaper than before.
“Metro Vancouver’s average rent prices have decreased in February. This month, the average rent price for an unfurnished, one-bedroom unit went down by $42, to a new average of $2,069/month. Since February 2025, Metro Vancouver’s average rate for an unfurnished one-bedroom unit has decreased by $228,” the report found.
The figures come on the heels of a similar report last month from Rentals.ca, which found rents in Vancouver were at the lowest rate in four years.
It said rates for a one-bedroom apartment in Vancouver and Coquitlam decreased 4.8 per cent and 10.2 per cent, respectively, compared to last year. It adds that an apartment listed at $3,080 in December 2022, fell to $2,654 in December 2025.
Giacomo Ladas with Rentals.ca told 1130 NewsRadio that this is a trend in the right direction.
“Really, what that shows is that in the last two years, Vancouver rents are down almost 13 per cent, and they are at the lowest level they have been since early 2022. There is more supply coming and populations going to remain about the same,” Ladas explained.
—With files from Jan Schuermann and Raynaldo Suarez
