Two Metro Vancouver cities see rise in rent while all others fall

Average rent in Metro Vancouver continues to see decreases, a trend that we’ve been seeing for well over a year, with the exception of a couple of cities.

According to the latest report from liv.rent, which looked at average rent in January 2026, every Metro Vancouver city saw decreases in one-bedroom rents, with the exception of Langley and Coquitlam.

For unfurnished one-bedroom units, Langley saw an increase of 6.48 per cent compared to last month, while Coquitlam saw an increase of 1.77 per cent compared to last month.

Liv.rent says that core Vancouver rents continued to reset from last year’s highs, with unfurnished one-bedroom rents down year-over-year in central areas.

Downtown Vancouver is seeing rents at around 10 per cent lower than in January 2025, and the West End is slightly below last year. Two-bedroom units are also softer, which liv.rent says suggests that peak pricing has not returned.

In Burnaby, three-bedroom rents are down 13 to 15 per cent compared to January 2025, signalling weaker demand for larger spaces in high-density hubs.

Across all cities in Metro Vancouver, for one-bedroom rents, West Vancouver is the most expensive place to rent, while Surrey continues to be the cheapest, followed by New Westminster and Coquitlam.

liv.rent

Five Metro Vancouver cities sit atop the leaderboard for the most expensive cities to rent in all of Canada. Those cities are West Vancouver, North Vancouver, Vancouver, Burnaby and Richmond.

Liv.rent also looked at neighbourhoods and determined that West Point Grey/UBC is the city’s most expensive neighbourhood to rent in this month, with an unfurnished one-bedroom unit renting for around $2,767 per month.

The Kilarney neighbourhood is the cheapest, with an unfurnished one-bedroom unit renting for $1,931 per month.

Looking at demographics, folks aged 25-34 make up the largest quadrant of renters on liv.rent’s platform, making up 30 per cent of all rents.

liv.rent