Summary

• On Wednesday, July 8, 2026, Rentals.ca released its national report on the rental market for June
• In British Columbia, average asking rents decreased by 5.3% overall, the highest decline in the country, and 5.1% for purpose-built rentals (PBR) and apartments
• B.C. had five cities in the 15 cities with the largest year-over-year decreases in PBR rents: Abbotsford (-12.4%), New Westminster (-11.8%), Coquitlam (-8.9%), Richmond (-8.2%) and Langley (-6.4%)
• Vancouver PBR rents have decreased by 18.5% relative to their peak in July 2023.Only B.C. and Ontario have seen rent declines over the past three years
• The report is available here: https://rentals.ca/national-rent-report
• June 2026 rent-report highlights: https://news.gov.bc.ca/releases/2026HMA0067-000672

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

“As we start enjoying summer in our beautiful province, we’re glad to see more good news for renters as young people, students, families and seniors continue to benefit from our actions on housing.

“Canadians and British Columbians have come together for the FIFA World Cup 2026. It reminds me of my time in Vancouver during the 2010 Olympics. Both world-class events have been a huge success for British Columbia, and they also show how much this province has changed since then.

“Unlike during the 2010 Olympics, people aren’t lined up around the block in Metro Vancouver to compete for an apartment. Now, we see renters able to negotiate their rent down because similar units in their building are going for less, or move to newer apartments at better prices.

“Our efforts to return short-term rentals to the long-term housing market have been instrumental in this effort and they also beat the predictions of people who wanted to put profits ahead of people. According to Business in Vancouver, short-term rental supply across the region has remained strong, even while vacancy rates are rising with more units available for long-term housing.

“We know we need to keep working hard to ensure we can continue to bring down the cost to deliver more homes for people throughout this province to see these trends continue.

“British Columbia will match the federal government’s new Build Communities Strong Fund at nearly $1.6 billion over 10 years – for a total of up to $3.2 billion – to lower development charges for multi-unit housing by as much as 50% in priority communities, saving as much as $40,000 per unit and expand housing-enabling infrastructure, such as water systems, wastewater systems and local roads.

“British Columbia is committed to working with the Government of Canada to create more homes for people in our province. These investments build on the partnership announced earlier this year to help people move into stable homes and increase access to affordable, permanent housing. We will keep moving this work forward and find practical, innovative solutions with our federal partners so our communities can keep growing with the housing and infrastructure that people need.

“We recently announced that $9 million from the Local Government Development Approvals Program will help 56 local governments fast-track development approvals. Local governments can improve their internal processes and development approvals, so we can continue to speed up the delivery of homes for people living and working in B.C.

“More seniors in Coquitlam will soon have access to safe, affordable homes, with construction underway on 158 new rental units across two developments. The seniors who helped shape our communities should have the option to stay in them. That is why we continue to build more affordable housing, making sure that seniors can remain close to family, friends and the services they count on with the stability and dignity they deserve.

“Older adults experiencing or at risk of experiencing homelessness in Cranbrook now have access to 31 new homes with supports. Another 50 new temporary homes are being proposed. These new homes in Cranbrook will help people move indoors, connect to services and build greater stability in their lives. We’re working with partners throughout B.C. to deliver more housing options that meet people where they are and help create stronger, more caring communities.

“My colleagues across government and I will continue working to make sure everyone in B.C. has a home they can afford in a community they love.”