On Monday, March 9, Rentals.ca released a report indicating average rents for all unit types continued to fall across the most populous provinces, with B.C. leading the country being down 4.9% throughout the province, while declines are 4.7% in Ontario, 4.6% in Alberta, and 3.1% in Quebec. 

In February 2026, purpose-built apartment and condo asking rents in B.C. were down 11.8% from their peak, seen in September 2023In Vancouver, one-bedroom apartment rental asking prices have fallen by 5.7% compared to this time last year. Overall apartment rents in Vancouver fell 7.2% year over year, the biggest decrease among Canada’s six largest markets. 

The largest overall decrease in apartment rents was seen in New Westminster at 12.8%In Kelowna, two-bedroom asking rental prices fell 11% from this time last year and one-bedroom prices in Coquitlam were down 12.7%. Outside the largest markets, six B.C. cities were among the 15 cities showing the largest decreases in apartment asking rents. 

Christine Boyle, Minister of Housing and Municipal Affairs, said, “This latest rent report continues to show encouraging signs for renters, with declining prices helping ease everyday costs for people in British Columbia. This reflects years of work, policies and partnerships across all levels of government."