British Columbia rental market data
British Columbia has the highest average 2-bedroom rent of the provinces in CMHC’s October 2025 survey, and in that survey its vacancy rate went up to 3.5% from 1.9%. The figures cover apartments in privately initiated buildings of three or more units; the Canada rental market page explains the survey.
| Measure (October 2025) | British Columbia | A year earlier |
|---|---|---|
| Vacancy rate | 3.5% | 1.9% |
| Average 2-bedroom rent paid | $2,065 | $1,981 |
| Turnover rate (units with a new tenant in the year) | 14.3% | 11.6% |
| Rent change for the same 2-bedroom units (fixed sample) | 3.6% | 4.5% |
Source: CMHC Rental Market Report data tables, Table 1.0 (apartments in privately initiated structures of three or more units, centres of 10,000 people or more).
| Average asking rent (August 2026) | British Columbia |
|---|---|
| Studio | $1,834 |
| 1 bedroom | $2,060 |
| 2 bedroom | $2,660 |
| 3 bedroom | $3,312 |
Source: Rentals.ca / Urbanation National Rent Report, apartments and condos listed for rent (August 2026). Asking rents are what a new tenant is quoted, so they run above the CMHC averages paid by all tenants.
BC against Canada
On CMHC’s figures the BC 2-bedroom average was 33% above the national $1,550 and 13% above Ontario’s $1,827. Rent growth was slower than the national rate, though: the same 2-bedroom units cost 3.6% more than a year earlier in BC, against 5.1% for Canada, the third-lowest increase of the 9 provinces with a published figure. The BC vacancy rate was the second-highest of the provinces, behind Alberta, and 14.3% of units changed tenants, against 12.8% nationally.
Moving in costs more than staying put. In BC’s larger centres, a 2-bedroom that changed tenants in the year rented for $2,337 on average and one with the same tenant for $1,976, a difference of $361 a month. CMHC notes that in Vancouver the rent cap held down increases for sitting tenants, which made turnover a bigger driver of rent growth.
Average rent by city (British Columbia)
| Centre | Vacancy rate, October 2025 | A year earlier | Average 2-bedroom rent paid |
|---|---|---|---|
| Vancouver | 3.7% | 1.6% | $2,363 |
| Victoria | 3.3% | 2.6% | $2,120 |
| Kelowna | 6.4% | 3.8% | $2,118 |
| Abbotsford-Mission | 2.8% | 1.1% | $1,592 |
| Nanaimo | 2.2% | 2.9% | $1,910 |
| Kamloops | 1.2% | 1.4% | $1,679 |
| Chilliwack | 3.0% | 1.3% | $1,526 |
| Prince George | n/a | n/a | n/a |
Source: CMHC Rental Market Report data tables, Table 1.0 (apartments in privately initiated structures of three or more units). Ottawa-Gatineau is split by province. n/a: the centre is not in Table 1.0.
Among the BC centres in CMHC’s table, Vancouver’s 2-bedroom average of $2,363 was the highest and Chilliwack’s $1,526 the lowest. Kelowna’s vacancy rate jumped to 6.4% from 3.8%, the highest of all 43 centres in CMHC’s table, while its 2-bedroom average of $2,118 sat within $2 of Victoria’s. Kamloops went the other way, with the lowest vacancy rate in the province, 1.2%. Detailed pages: Vancouver (rent and vacancy for each Metro Vancouver zone) and Victoria (James Bay to Sidney).
Asking rents
Listed rents are falling in BC. Rentals.ca and Urbanation, whose report tracks listings rather than what tenants pay, put the BC average asking rent for apartments and condos at $2,353 in August 2026, -4.6% on a year earlier and -12.0% over three years. A listed 2-bedroom averaged $2,660, which is still 29% above the CMHC average paid by all tenants.
What rent costs relative to income
At the BC average 2-bedroom rent, a household needs $82,600 of gross income to keep rent within CMHC’s 30% guideline, 3% below the province’s census median household income of $85,000 (for 2020, earlier than the rent figures). At the Rentals.ca 2-bedroom asking rent the same test needs $106,400, 25% above the median. Use the rent affordability calculator for a specific income.
What CMHC says is driving rents in BC
CMHC’s 2025 Rental Market Report ties the softer market to fewer new renters and more supply. BC’s population growth fell sharply as net international migration dropped, and the province saw 3 quarters in a row in which more non-permanent residents left than arrived; most of them rented. CMHC’s chart of the young adult population puts BC’s change at -1.7% in the latest year, after 4.2% growth the year before, and CMHC says BC and Ontario saw the largest declines. At the same time new rentals and rented condos kept coming, so vacancy rose in both Vancouver and Victoria to levels not seen in decades.
Rules on rent increases in British Columbia
- The rent increase limit is 2.3% for 2026 and 2.2% for 2027.
- Rent can go up once every 12 months, with at least 3 full months' notice.
- A landlord can apply to the Residential Tenancy Branch for an additional increase to cover certain costs and expenditures.
- A tenant can agree in writing to a larger increase, but doesn't have to.
Source: British Columbia government.
On the BC average 2-bedroom rent of $2,065, the 2026 cap of 2.3% allows a sitting tenant’s rent to rise by up to $47.50 a month.
Annual limit by year
| Year | Limit on increases |
|---|---|
| 2027 | 2.2% |
| 2026 | 2.3% |
| 2025 | 3% |
| 2024 | 3.5% |
| 2023 | 2% |
| 2022 | 1.5% |
| 2021 | 0% |
| 2020 | 2.6% |
Security deposits
- A security deposit can be no more than half of the first month's rent, and it stays at that amount if the rent changes later.
- If pets are allowed, the landlord can also charge one pet damage deposit, again no more than half of the first month's rent whatever the number of pets.
- Once the landlord has the tenant's forwarding address in writing, it has 15 days to return the deposits with any interest.
- The landlord can keep a deposit only with the tenant's written permission or a Residential Tenancy Branch order.
- If the landlord takes no action within those 15 days, it may be ordered to pay the tenant double the deposit.
The BC tenant rights guide covers the rest of a tenancy, rent increase rules by province sets BC’s cap beside other provinces’ rules, and how to get a security deposit back walks through a deposit claim.
Related pages
- Vancouver Rental Market: rent and vacancy by Metro Vancouver zone
- Victoria Rental Market: the capital region zone by zone
- Alberta Rental Market: the neighbouring province, with no rent cap
- Kelowna Housing Market: home prices in the Okanagan
- Income in British Columbia: provincial income data
Sources
- CMHC Rental Market Report data tables: Canada workbook, provinces and centres, turnover rents
- CMHC 2025 Rental Market Report: national, Vancouver and Victoria commentary
- Rentals.ca National Rent Report: asking rents (a private listings report)
- Statistics Canada table 98-10-0061: census household income
- British Columbia rules on rent increases