North Vancouver remains Canada’s priciest rental market, report shows

North Vancouver remained the most expensive city in Canada for renters in July, according to Rentals.ca’s August 2026 national rent report.

The average asking rent for a one-bedroom unit in North Vancouver was $2,588, up 5.3 per cent from June but down 1.5 per cent from July 2025. Vancouver followed at $2,377 a month, down 0.6 per cent month over month and 4.8 per cent year over year.

Burnaby was also among the five most expensive cities in the report, with a monthly increase but a year-over-year decline. Kamloops had B.C.’s lowest average asking rent for a one-bedroom at $1,742, compared with $1,794 in Surrey.

The B.C. Ministry of Housing highlighted year-over-year declines in purpose-built rental rents in 15 B.C. cities, including Abbotsford, Langley, Coquitlam, New Westminster and Richmond. Housing Minister Christine Boyle said the figures showed that policy can affect affordability, while linking the province’s housing work to broader co-operation with the federal government.