Vancouver's rental market suddenly surging in popularity among Canadians
Vancouver has become a surprisingly popular destination for renters in Canada, according to a new report.
RentCafe has revealed that Vancouver has placed 11th out of 25 cities in the country among renters’ favourites. The city has jumped up 11 places since the last report.
The online apartment search platform stated that Vancouver’s statistics are unique among all large cities in the country.
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“The only large Canadian city to see a jump in renter engagement this quarter is Vancouver, which typically sits near the bottom of our ranking,” said RentCafe in a release. “Favourited listings jumped 83 per cent and saved searches surged 92 per cent compared to last year.
“Meanwhile, all the other large cities are moving in the opposite direction.”
RentCafe gives Vancouver a total rental score of 65.02 in the Renter Interest in Canada’s Large Cities in Q3 2025 report. In comparison, the city only scored 50.25 in the Q2 report.
The score is calculated based on four key indicators, including available listings, listing views, apartments saved as favourites, and saved personalized searches.
“These sharp increases in activity point to renewed momentum in Vancouver’s rental market, signalling growing interest after earlier slowdowns.”
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Vancouver does rank lower than Edmonton in sixth place and Calgary in ninth. Toronto earned the 14th spot on the list.
RentCafe also pointed out that smaller and mid-sized cities were “punching above their weight.”
“Several smaller and mid-sized cities stand out this quarter, attracting renter attention well beyond what their populations would suggest,” the platform said.
“Backed by strong engagement and steady upward movement in the rankings, these markets continue to position themselves as appealing alternatives to Canada’s largest urban hubs.”
Victoria Public Market. (Townline)
Victoria was highlighted in the report, moving up two spots to number eight on the list of the country’s top rental markets with a score of 71.32.
“This activity reflect steady renter demand for Victoria’s coastal lifestyle, reinforcing its position as one of western Canada’s most desirable smaller cities,” explained RentCafe.
The full Canada Renter Interest Report can be read online.
In October, Vancouver (and Calgary) led the entire country in rent declines, while North Vancouver was the most expensive to rent in all of Canada.
Average asking rent for a one-bedroom unit in North Vancouver was $2,562 in October, marking a 0.3 per cent drop compared to September. Year-over-year, that marked a 6.9 per cent drop. Two-bedroom units rose 0.3 per cent month-over-month to $3,397. That marked a 2.4 per cent decrease year-over-year.
Vancouver, the second-most expensive place to rent in Canada, saw a one-bedroom apartment go for an average asking rent of $2,463 in October. A two-bedroom unit in Vancouver went for an average of $3,354 in October, a 2.1 per cent decrease month-over-month and a 4.4 per cent decrease year-over-year.