The B.C. Ministry of Housing celebrated the most recent rental report from Rentals.ca and suggested that the province is on a “generational path to prosperity.”
Rentals.ca released its August 2026 national rent report earlier this week, which analyzed data from July 2026.
As we’ve seen in recent iterations of the report, North Vancouver is still the most expensive place to rent in all of Canada. Despite the ministry’s sentiments about rent decreasing, North Vancouver saw a massive jump compared to June 2026.
In July 2026, a one-bedroom unit in North Vancouver was listed at an average asking price of $2,588. That marked a 5.3 per cent increase compared to June 2026, the biggest jump from any city on the report. It did, however, mark a 1.5 per cent decrease compared to July 2025.
Vancouver ranks just behind North Vancouver. In Vancouver, a one-bedroom unit was listed for an average asking price of $2,377 per month in July. That marked a 0.6 per cent decrease compared to June 2026, and a 4.8 per cent decrease compared to July 2025.
Burnaby rounds out the top five, and it also saw an increase compared to last month, but a decrease compared to last year.
Rentals.ca
The cheapest B.C. rental city is Kamloops, where the average asking rent for a one-bedroom is $1,742 per month, according to Rentals.ca. That’s even cheaper than Surrey, which saw a one-bedroom unit listed for the average asking price of $1,794 in July.
The ministry pointed out that B.C. had 15 cities with the largest year-over-year decreases in purpose-built rental rent.
That includes Abbotsford (-12.4 per cent), Langley (-7.6 per cent), Coquitlam (-7.3 per cent), New West (-6.6 per cent), and Richmond (-6.1 per cent).
B.C. Ministry of Housing Christine Boyle was very optimistic about the report and about some recent developments between the B.C. Premier and Canadian Prime Minister Mark Carney.
“Last month, Premier David Eby secured a multi-billion-dollar agreement with Prime Minister Mark Carney that sets British Columbia on a generational path to prosperity, unlocking jobs for workers and support for vital public services and infrastructure,” Boyle said in a statement.
“As industries and investors ‘Look West’ to B.C. more than ever, families and young people want to ‘live West’ in a home they own. Many people have a good career and can afford a mortgage, but unjust tariffs and the rising cost of living can put saving for a down payment out of reach. That’s why the Province is working with the federal government to help British Columbians put down roots and rent to own a home.”
Boyle’s statement suggests that B.C. policies are what have helped the “continued streak” of lower rent prices.
Boyle said the report represents proof that “good policy can make a real impact.”
“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 added.
You can find the full report on the Rentals website and Boyle’s full statement on the B.C. Government website.