B.C. rents fall 4.5% in July, led by declines in several Metro Vancouver cities
Posted August 6, 2026 4:05 pm.
Rental prices in British Columbia declined 4.5 per cent in July compared with a year earlier, according to a report released Thursday by Rentals.ca.
Five B.C. communities ranked among the 15 Canadian cities with the largest year-over-year decreases in asking rents. Abbotsford recorded the biggest drop at 12.4 per cent, followed by Langley at 7.6 per cent, Coquitlam at 7.3 per cent, New Westminster at 6.6 per cent and Richmond at 6.1 per cent.
Vancouver rents have also continued to trend downward, falling 20 per cent since reaching a peak in August 2023, the report found.
According to Rentals.ca, British Columbia and Ontario are the only provinces to have experienced rental price declines over the past three years.
Housing and Municipal Affairs Minister Christine Boyle said the latest figures point to an ongoing trend of easing rental costs.
“This report marks 25 months of consecutive year-over-year decreases in asking rent prices,” Boyle said. “That means we’ve seen more than two years of falling asking rents as we continue our work to make life more affordable for renters.”
The provincial government says increasing the supply of housing remains a key part of its affordability strategy.
In July, Premier David Eby and Prime Minister Mark Carney announced a multi-billion-dollar housing agreement that includes funding for the Community Housing Fund.
The province says the program has helped deliver 275 new affordable homes in communities including the Sunshine Coast, Penticton and Chilliwack.
“Making housing more affordable is just one part of our promise to make sure everyone is welcome and can build a good life in British Columbia,” Boyle said.
