Rentals.ca released a report Monday indicating that apartment rental asking prices in British Columbia (BC) continue to lead the country in declines, down 4.7 percent in January compared with January 2025

In January 2026, apartment asking rents in B.C. are down 12.3 percent  from their peak, seen in September 2023

In Vancouver, one-bedroom apartment rental asking prices have fallen by 6.3 percent  compared to this time last year; in New Westminster that number fell by 15.2 percent.

In Kelowna, two-bedroom asking rental prices fell 10.8% from this time last year; one-bedroom prices in Coquitlam were down 10.3%

Christine Boyle, Minister of Housing and Municipal Affairs, said, “This rent report is more good news for renters, and falling rent prices are one of the ways we’re making life more affordable in British Columbia. Seeing asking rent prices fall doesn’t happen overnight; it is deeply connected to the major investments and policies we have been putting in place since 2017, to increase the number of rental homes available for people.

“While we build new rental homes, we also know it is essential to protect the most affordable rental homes we already have. Recently, we have celebrated a milestone as B.C.’s Rental Protection Fund surpassed its original goal of protecting 2,000 rental homes in less than three years. Our $500-million investment in this fund enables non-profits to purchase existing affordable rental homes in B.C., preserving them for generations.

“Just this month, the fund acquired 40 more homes across two properties in Vancouver and 37 homes across three properties in White Rock, so that we can ensure seniors, low-income families and long-time community members can stay in the community they love, at a price they can afford," she added. 

The minister further said,“This month, I also attended the opening of the two largest buildings in the history of the Women's Transition Housing Fund. These new buildings provide more than 150 new homes for women and their children leaving violence in Vancouver and Langley.