What is the average rent in BC?

The average asking rent in British Columbia is approximately $2,250 for a 1-bedroom and $2,850 for a 2-bedroom. Purpose-built rents from CMHC data are lower — roughly $1,600–$1,900 for a 1-bedroom — reflecting long-term tenants paying below-market rates under rent control.

Does BC have rent control?

Yes. BC ties the annual maximum rent increase to CPI inflation. For 2025, the maximum allowable increase is 3.0%. This applies to most residential tenancies. When a tenant moves out, the landlord can re-rent the unit at any price (vacancy decontrol).

What is the vacancy rate in BC?

Vancouver CMA vacancy was 3.7% in October 2025 (up from 1.7%) and Victoria CMA vacancy was approximately 3.2%. Both represent the most balanced conditions in nearly a decade, driven by record new supply.

What is the cheapest city to rent in BC?

Among BC CMAs, Kelowna, Kamloops, and Abbotsford tend to have cheaper rents than Vancouver or Victoria. However, all BC cities are above the national average. Victoria 2-bedroom purpose-built apartments average ~$1,900, while Vancouver averages ~$2,100.

British Columbia Rental Market Data 2025–2026 | Average Rent & Vacancy Rates

British Columbia rental market data

British Columbia has the most expensive rental market in Canada. Vancouver and Victoria consistently rank among the priciest CMAs, driven by geographic constraints, strong population growth, and limited land.

In 2025, BC saw the most dramatic vacancy rate improvements in the country. Vancouver’s vacancy rate jumped to 3.7% from 1.7% — the highest since 1988 — while Victoria’s eased to approximately 3.2%. CMHC attributed the shift to a record number of new rental completions.

Data source: CMHC Rental Market Survey (October 2025), published December 2025. This is the most recent CMHC rental data available — the survey is conducted once per year every October. Next update expected December 2026.

Average rent by city (BC)

City	2BR Purpose-Built	2BR Asking Rent	Vacancy Rate
Vancouver	~$2,100	~$3,350	3.7%
Victoria	~$1,900	~$2,650	~3.2%

BC asking rents average approximately $2,250 for a 1-bedroom and $2,850 for a 2-bedroom across the province.

BC rent control rules

BC has one of Canada’s most structured rent-control frameworks:

Year	Maximum Increase
2020	2.6%
2021	1.4%
2022	1.5%
2023	2.0%
2024	3.5%
2025	3.0%

Key rules:

Tied to CPI — The maximum increase equals the prior year’s CPI for BC
Vacancy decontrol — Landlords can set any rent for a new tenancy
3 months written notice required
Once per 12 months — Only one increase per year
Above-guideline increases require Residential Tenancy Branch approval and are limited to cases with extraordinary capital costs

The gap between long-term tenant rents and market rents is especially wide in BC, where vacancy decontrol incentivizes turnover.

Vacancy rate trends

Vancouver & Victoria Vacancy Rates (2015–2025)

Both Vancouver and Victoria experienced their highest vacancy rates in years during 2025, a dramatic reversal from the ultra-tight conditions of 2016–2023.

Key market drivers

Record construction: BC saw rental completions at historic highs, particularly in Vancouver’s Broadway Corridor and Victoria’s downtown core.

Population growth slowdown: After years of rapid immigration-driven growth, demand moderated in 2025.

Geographic constraints: Vancouver is hemmed in by mountains, ocean, and the US border. Victoria sits on a small peninsula. Both cities have limited room to expand.

Short-term rental regulation: BC’s restrictions on Airbnb and short-term rentals returned some units to the long-term rental market.

BC city rental market pages

Vancouver Rental Market — Canada’s most expensive rental city
Victoria Rental Market — BC’s capital city

Canada Rental Market Data — national overview
Average Rent in Canada — rent comparison by city and province
Income in British Columbia — provincial income data

Sources

CMHC Rental Market Survey — Housing Market Information Portal
CMHC 2025 Rental Market Report — December 2025
BC Residential Tenancy Branch — rent increase rules