Summary

• On Thursday, April 9, 2026, Rentals.ca released a report indicating that British Columbia remains the Canadian leader when it comes to average asking rent price falling 
• B.C.’s average asking rent price for apartments was down 4.8%, while declines were 4.6% in Alberta and 4.4% in Ontario 
• In March 2026, purpose-built apartment and condo asking rents in B.C. were down 12.2% from their peak in August 2023  
• Among the six largest markets, Vancouver has seen the largest three-year decrease in purpose-built and apartment rents at 14.1% 
• Outside the six largest markets, B.C. has five cities among the 15 largest rent decreases for purpose-built and apartment rents: Richmond (-16.5%), New Westminster (-11.3%), Coquitlam (-11%), Burnaby (-10.6%), and Surrey (-7.1%) 
• The report is available here: https://rentals.ca/national-rent-report 

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Christine Boyle, Minister of Housing and Municipal Affairs, has issued the following statement:  

“As we head into spring, renters will continue to see the effects of our hard work, policies and partnerships as asking rent prices fall, making life more affordable for people in British Columbia. 

“British Columbia continues to lead Canada when it comes to falling rent prices for apartments, and we understand that we need to redouble our efforts to ensure we can reduce the cost to deliver more homes for people across this province to see these trends continue. 

“Last week, we introduced legislation that would create new tools to reduce upfront costs for homebuilders and allow communities to be eligible for federal infrastructure funding under the Build Community Strong Fund. Enabling infrastructure funding to keep communities whole while lowering the upfront costs for homebuilders will help build more homes for people in today’s uncertain economic environment. 

“This is just one of many actions we’re taking to reduce the barriers that are slowing down new housing and infrastructure, including making construction more efficient in B.C. 

“We’re also looking at specific communities across the province and making sure that they are building the homes their communities need, so people can stay and thrive. Last week, we issued a provincial order to ensure that the District of West Vancouver’s Ambleside Centre Local Area Plan moves forward. The Ambleside plan will allow more homes to be built while creating more opportunities for nearby shops, community spaces and improved sidewalks, with public infrastructure already included in the Ambleside Plan. 

“We took this action because our children, grandchildren and seniors who grew up in, and helped build communities like West Vancouver, should all be able to find a home in the place they know and love. A home like the 156 new, below-market rental Kiwanis Village West apartments we just opened in West Vancouver last week. Combined with great amenities and a much-needed adult day centre, we will continue not just to invest in housing but building the vibrant, complete communities people want to live in, in the communities that they are keeping running.

“As we return to the legislature next week, I look forward to joining my colleagues as we debate legislation, answer questions, and continue our work to make sure everyone in B.C. has a home they can afford in a community they love.”