We update this page every month with the latest Vancouver rental market data, helping newcomers understand how much you can expect to pay for an apartment in the city. So – how much is rent in Vancouver in September 2026?
Last updated: September 2026
If you’re looking for a one- or two-bedroom apartment in Vancouver this month, you’ll probably notice that rents have become a little more affordable over the past few years.
Don’t get us wrong, Vancouver remains Canada’s most expensive rental market. But after years of increases, asking rents have trended down for smaller units, and are now stabilizing, giving renters a little more breathing room than they had during the peak of the housing crunch. However, the price for larger units, like three-bedroom apartments, are increasing.
Looking at the rental market as a whole, the British Columbia government states that asking rents in Vancouver and neighbouring Burnaby have fallen for 29 consecutive months and are approximately 20 percent lower than their 2023 peak.
Here’s what renters can expect to pay in Vancouver right now, how prices have changed over time, and what it means if you’re planning a move.
Vancouver Rent Snapshot: September 2026
| Apartment Type | Median Monthly Asking Rent | Average Monthly Asking Rent | Change From August | Change From Last Year |
|---|---|---|---|---|
| One bedroom | $2,495 | $2,555 | no change | up 0.2% |
| Two bedroom | $3,300 | $3,602 | no change | no change |
| Three bedroom | $4,980 | $4,980 | no change | up 11.9% |
Historic Vancouver Rent Trends
The table below tracks median monthly asking rents in Vancouver since Moving2Canada began monitoring the market in August 2026. We add the latest figures each month, making it easier to see how rents are changing over time.
| Month | One Bedroom | Two Bedroom | Three Bedroom |
|---|---|---|---|
| September 2026 | $2,495 | $3,300 | $4,980 |
| August 2026 | $2,495 | $3,300 | $4,980 |
How Much Is Rent in Vancouver?
According to Door Insight, the median asking rent for a one-bedroom apartment in Vancouver is $2,495 per month as of August 2026. A two-bedroom apartment has a median asking rent of $3,300, while three-bedroom units rent for around $4,980.
Asking rents have remained stable between August and September, suggesting that the market may be beginning to stabilize.
Although Vancouver continues to rank among Canada’s most expensive cities for renters, on a multi-year trend rents have fallen for both one- and two-bedroom units.
However, three-bedroom units have seen prices increase more than 11 percent year-over-year.
Compared with the rental market in 2023 and early 2024, renters of smaller units (one- and two-bedrooms) have a little more choice and a bit less competition when searching for a place to call home. However, for three-bedrooms and larger, prices are still extremely competitive.
Are Vancouver Rents Going Up or Down?
The short answer is: down. But it’s a little more complicated than that. After reaching record highs in recent years, especially following the pandemic, asking rents in Vancouver have started decreasing a little bit over the past few year. However, the picture isn’t all rosy.
First, even with the downward movement, rents remain extraordinarily high. As well, the pace of those rental price declines has slowed in recent months, appearing to stabilize at current rates.
Second, rental prices aren’t decreasing across all unit types. Three-bedroom apartments in Vancouver are actually more expensive than they were a year ago.
That’s mixed news for renters. While Vancouver remains an expensive place to live, today’s market is generally less competitive than it was during the height of the post-COVID rental surge in 2023. This is especially true for renters seeking smaller units.
Why Are Rents Falling in Vancouver?
Several factors have helped reduce pressure on Vancouver’s rental market over the past few years. More rental housing has become available, including newly completed purpose-built rental buildings and additional condominium units entering the rental market.
Population growth across Canada and in Vancouver has also slowed down. In fact, Canada’s population actually shrunk by 0.2 percent in 2025. This is largely due to declining birth rates combined with Canada’s recent policy to reduce the number of temporary workers and students in the country. With a smaller population, competition for available rental units has eased.
The vacancy rate for Metro Vancouver is currently 3.7 percent. That refers to the percentage of rental units that are currently unoccupied. Back in 2023, at the peak of Vancouver’s rental shortage, the vacancy rate was only 0.9 percent, making competition for rentals extremely tight and driving prices up.
How Does Vancouver Compare with Other Canadian Cities?
Vancouver and Toronto continue to compete for the title of Canada’s most expensive rental market. Both cities report significantly higher asking rents than Montreal, Calgary and Ottawa, although each market has experienced declines over the past year.
One important difference is the type of units commonly available to renters in different cities. Many Vancouverites rent secondary suites, including basement units and laneway homes. (A laneway home is a small, self-contained residential unit built in the backyard of an existing home, typically facing a public laneway or alley. They’re a common type of rental unit in Toronto and Vancouver.) These can sometimes provide a more affordable alternative to traditional apartments or fancy condos, but prices vary widely depending on the neighbourhood and the condition of the unit.
For newcomers deciding where to settle, housing costs remain one of the biggest factors affecting the overall cost of living. Even if salaries are higher in Vancouver than elsewhere in Canada, the city’s housing costs can have a significant impact on your monthly budget. Vancouver renters spend an average of 41.6 percent of their income on rent, well above the 30 percent threshold recommended by financial advisors.
How Can You Find Cheaper Rent in Vancouver?
If you’re looking for cheaper rent in Vancouver, one of the easiest ways to reduce your housing costs is to expand your search beyond the downtown core.
Neighbourhoods further from downtown often offer lower rents, particularly if you’re willing to accept a slightly longer commute. Many newcomers also choose to live outside the City of Vancouver altogether, in neighbouring municipalities such as Burnaby, Richmond, New Westminster or Surrey, where rental prices are generally lower.
Another option is to consider secondary suites, including basement apartments and laneway homes. These types of rentals can sometimes offer better value than purpose-built apartment buildings or newer condos, although prices vary depending on the neighbourhood and condition of the unit.
What Does This Mean for Newcomers?
If you’re planning to move to Vancouver this year, the rental market is still competitive, but rents have decreased a little compared with the peak of the housing shortage back in 2023.
Renters generally have more listings to choose from than they did a year or two ago, and landlords may be a little more flexible than they were when demand was at its highest. That said, finding affordable housing remains difficult, particularly in neighbourhoods close to downtown, SkyTrain stations and major employment centres.
It’s also worth remembering that advertised rent is only one part of your monthly housing costs. Utilities, internet, parking and tenant insurance may all be additional expenses depending on the property.
If you’re moving to Vancouver from outside British Columbia, consider arranging temporary accommodation while you search for a longer-term rental. Visiting apartments in person can help you avoid rental scams and make it easier to find a home that suits both your budget and your lifestyle.
Want more tips on finding a rental in Vancouver? Check out our guide on finding accommodations in Canada.
Frequently Asked Questions About Vancouver Rent
Is Rent Going Down in Vancouver?
Yes. Vancouver asking rents have gone down over the past several years. However, they appear to be stabilizing now.
Between July and August 2026, average asking rents remained stable for all apartment sizes. Notably, three-bedroom apartments have seen a year-over-year increase of more than 11 percent.
Although monthly movements vary, rents remain well below the highs reached during the rental market peak in 2023, particularly for one- and two-bedroom units.
Is Vancouver More Expensive Than Toronto?
Yes. Vancouver remains Canada’s most expensive rental market, although Toronto is close behind in second place.
Which Parts of Vancouver Have Cheaper Rent?
Renters looking to reduce housing costs should consider neighbourhoods outside downtown Vancouver. You may also want to consider neighbouring cities like Burnaby, Richmond, New Westminster and Surrey.
Where Does This Data Come From?
The figures in this article are based primarily on Door Insight’s monthly Vancouver rental market data, which tracks asking rents from active rental listings across the city.
Moving2Canada updates this page each month using the latest available figures. Previous monthly prices are retained in our historical table so readers can follow changes in Vancouver’s rental market over time.
