Vancouver rent just had the biggest monthly increase in Canada's major markets | Daily Hive

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The rising cost of living continues to impact many British Columbians, and you may soon need to dig deeper into your pockets to pay your monthly Vancouver rent.

A new report from Rentals.ca reveals that asking rents for Vancouver apartments have just posted the largest monthly gain among Canada’s largest six markets.

According to the latest National Rent Report created by Rentals.ca and Urbanation, the annual decline in asking rent in the city last month is also the smallest it has been since December 2023.

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“In key markets like Toronto and Vancouver, new supply is moving past its peak,” said Shaun Hildebrand, president at Urbanation. “Rents in both cities have trended higher over the past six months, and annual declines have narrowed significantly as renters come off the sidelines.

“Where Toronto and Vancouver go, the rest of the country follows.”

“This should offer continued relief for renters after years of outsized rent inflation.”

According to Rentals.ca, the average asking rent in September for a one-bedroom rental in Vancouver is $2,373 per month, up one per cent compared to August 2026. A two-bedroom rental has an average asking price of $3,271 per month, up 0.7 per cent month-over-month.

The average rent in Vancouver sits at $2,741, up 1.4 per cent, making it the second most expensive city to rent in Canada’s top rental markets.

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The most expensive city to rent remains North Vancouver, with a total average rent in September sitting at $3,028.

Coquitlam, Burnaby, Langley, Victoria, New Westminster, and Surrey also landed on the top 20 most expensive places to rent in the country.

However, it is not all doom and gloom in the Canadian rental market, as September marked the 24th consecutive month of year-over-year declines in asking rent in Canada, with B.C. being only one of two provinces seeing rent declines over the past three years.

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“In the near term, more affordable rents and move-in incentives are releasing pent-up demand from delayed household formation, as higher rents in previous years led to prospective renters living with parents or roommates for longer,” the report stated.

The full Rentals.ca National Rent Report can be found online.

With economic uncertainty, tariffs, the U.S-Canada trade war, and growing concerns about AI, 53 per cent of B.C. residents reported that they are concerned about job mobility and career opportunities.

Ipsos, a market research and polling company, conducts the MNP Consumer Debt Index quarterly, gauging Canadian’s ability to pay their bills, manage unexpected expenses, and absorb interest rate fluctuations, as well as measuring people’s attitudes regarding their consumer debt.

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The index found that 24 per cent of B.C. residents are worried about tariffs, trade disputes, or wider economic instability negatively affecting their job or income. For working British Columbians, 31 per cent are concerned about this.

It also found that 20 per cent are concerned about AI’s impact on their careers, and 12 per cent are worried AI will make some of their skills less valuable.

Further, 28 per cent of British Columbians reported that they are anxious about having challenges finding a new job that would offer similar pay and benefits.