It may not come as a massive surprise to most, but four Metro Vancouver cities are the most expensive places to find a rental in Canada.
According to Rentals.ca, North Vancouver — not Vancouver — is the most expensive municipality in the region to rent in. That has been the reality for two months straight, as North Vancouver was also on top in last month’s report.
Vancouver, Coquitlam, Burnaby, and Toronto round out the other five most expensive places to rent in the country.
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The latest Rentals.ca report analyzed rental rates in April 2025.
In North Vancouver, the average asking rent for a one-bedroom rental reached $2,680 per month, up 0.5 per cent from March 2025 and down 1.4 per cent from April 2024.
It’s a similar, albeit more expensive, reality for two-bedroom units in North Vancouver, which reached $3,563 per month, a 2.7 per cent increase compared to March 2025 and a two per cent decrease compared to April 2024.
Coquitlam saw a slight reversal of that trend; instead, average asking rent for one-bedroom units decreased compared to last month but increased compared to the previous year.
Out of the top five cities, Burnaby saw the most significant drop compared to last year, where one-bedroom rents fell by 7.6 per cent.
Rentals.ca
Out of every Metro Vancouver city in the report, Surrey offers the lowest rates for one— and two-bedroom units. The average one-bedroom unit has an average asking rent of $1,850, and a two-bedroom unit asks for $2,421.
Looking at the biggest Canadian cities featured in the report, Calgary has the lowest rates, whereas a one-bedroom unit ($1,579) is relatively cheap compared to Metro Vancouver’s rates.
If you are curious, the cheapest place to rent in the entire country is St. John’s, where the average asking rent for a one-bedroom unit was $1,015 in April. A two-bedroom unit wasn’t much more, with an average asking rate of $1,184.