---
title: "Vancouver rent rose 0.2% in October, first annual increase in 34 months"
description: "Rentals.ca and Urbanation's November 2026 rent report shows Vancouver average asking rent reached $2,735 in October, up 0.2% year-over-year for the first time since late 2023."
canonical_url: "https://voche.me/news/vancouver-rent-first-annual-increase-october-2026"
last_updated: "2026-11-06T02:58:37.750Z"
---

Vancouver apartment and condo asking rents rose 0.2% year-over-year in October 2026, reaching an average of $2,735, according to the Rentals.ca and Urbanation November 2026 National Rent Report published November 5. Daily Hive Vancouver first reported the data the same day.

The 0.2% increase ends 34 consecutive months of annual rent declines in Vancouver. The last time Vancouver rents rose year-over-year was in late 2023, when rents peaked at an average of $3,335 in September 2023, according to Daily Hive.

## Where the increase is coming from

The Rentals.ca report says the overall increase is coming from larger units. Three-bedroom Vancouver rents rose 2.6% year-over-year to $4,042 in October. One-bedroom and two-bedroom rents remain below year-ago levels. Month-over-month, Vancouver rents edged down 0.2% from September to October.

Rentals.ca's communications director Giacoma Ladas told Daily Hive that rents rose "mainly because supply is starting to tighten." Fewer available listings are coming to market, and that reduced inventory is putting upward pressure on asking rents, he said.

## How Vancouver compares

Toronto also saw rents rise year-over-year in October, up 1.6% to $2,590, ending 32 consecutive months of annual declines, according to the Rentals.ca report. Ottawa rents rose 0.3% to $2,170. Calgary (-2.4%), Edmonton (-1.3%) and Montreal (-0.3%) all saw annual declines.

The report describes Toronto and Vancouver as the first large markets to stabilize after leading the national decline cycle. Both markets peaked in 2023 and have now posted annual gains before the other large cities.

Over the past two years, Vancouver rents fell 7.1% from October 2024, the report says. Nationally, average asking rent for all property types was $2,036 in October, down 3.2% year-over-year. That is the 25th consecutive month of annual decline nationally, though the smallest annual decline since February 2026.

## What comes next

Ladas told Daily Hive it is "hard to predict with certainty" whether Vancouver rents will keep climbing. He said supply continuing to decline would support further rent growth, but that the fall and winter rental season is typically slower and could moderate any increases.

The new Vancouver City Council has made housing a priority, with promises across multiple parties to add supportive housing, strengthen the empty homes tax and restore the renters' office. Those commitments are tracked at [the promise tracker](/tracker).

Renters and people looking for housing in Vancouver can find current listings and the full Rentals.ca report at [rentals.ca](https://rentals.ca/national-rent-report).

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