Vancouver asking rents fell 4 per cent in October, Zumper report says
Zumper's Canadian Rent Report for October 2026 shows Vancouver one-bedroom rents at $2,400 a month, down 4 per cent from a year ago, as Metro Vancouver's vacancy rate reaches its highest level since 1988.
Reported. A news outlet found this. voche.me names the outlet and links its report. Read the original report on dailyhive.com.
Vancouver asking rents fell year over year in October 2026, according to Zumper's Canadian Rent Report. Daily Hive Vancouver reported on November 12 that the median asking rent for a one-bedroom unit in Vancouver was $2,400 a month in October, down 4 per cent from a year earlier. The median asking rent for a two-bedroom was $3,300 a month, down 1.5 per cent over the same period.
Zumper is a digital marketplace for renters and property managers. Its Canadian Rent Report tracks asking rents on apartment listing sites each month.
Why rents are easing
The report points to rising vacancy as the main factor. Canada Mortgage and Housing Corporation's most recent annual survey put Metro Vancouver's purpose-built vacancy rate at 3.7 per cent, Daily Hive reported. CMHC said that is the highest vacancy rate Metro Vancouver has seen since 1988.
A higher vacancy rate means more empty units competing for tenants, which puts downward pressure on asking prices. Zumper said the oversupply is hitting some Metro Vancouver cities harder than others.
Vancouver still the most expensive in Canada
Despite the declines, Vancouver held the top position for the most expensive one-bedroom and two-bedroom asking rents in the country in October 2026, according to the Zumper data. At $2,400 a month for a one-bedroom and $3,300 for a two-bedroom, Vancouver asking rents remained above every other Canadian city in the report.
The figures are asking rents on listing sites, which represent what landlords are advertising, not what every tenant pays. Rents on existing leases vary.
What to do with this information
Renters whose leases are coming up for renewal, or who are looking for a new place, can use the median figures as a reference point for what landlords are currently asking. The City of Vancouver's tracker follows the new council's decisions on housing. For questions about tenant rights, the Residential Tenancy Branch handles disputes and information at gov.bc.ca/residentialtenancy.
Questions this story answers
What are Vancouver's average asking rents in October 2026?
According to the Zumper Canadian Rent Report for October 2026, the median asking rent for a one-bedroom unit in Vancouver was $2,400 a month in October 2026. The median asking rent for a two-bedroom unit was $3,300 a month. Daily Hive Vancouver reported these figures on November 12, 2026.
Have Vancouver rents gone up or down in the past year?
Vancouver rents fell year over year in October 2026. The Zumper Canadian Rent Report shows one-bedroom asking rents were down 4 per cent compared with October 2025, and two-bedroom asking rents were down 1.5 per cent over the same period.
What is the Metro Vancouver rental vacancy rate in 2026?
Canada Mortgage and Housing Corporation's most recent annual survey put Metro Vancouver's purpose-built vacancy rate at 3.7 per cent, according to the Daily Hive report on the Zumper data. CMHC said this is the highest vacancy rate in Metro Vancouver since 1988.
Why are rents falling in Metro Vancouver?
The Zumper Canadian Rent Report attributes the rent declines in Metro Vancouver to a rise in vacancy. CMHC put the purpose-built vacancy rate at 3.7 per cent in its most recent annual survey, which is the highest since 1988. More rental supply has given renters more choice, and asking prices have come down as a result.
Is Vancouver still the most expensive rental market in Canada?
Yes, according to the Zumper Canadian Rent Report for October 2026. Despite falling rents, Vancouver held the top position for the most expensive one-bedroom and two-bedroom asking rents in Canada, at $2,400 and $3,300 a month respectively.
What does the Zumper Canadian Rent Report measure?
Zumper is a digital marketplace for renters and property managers. Its Canadian Rent Report tracks asking rent prices on apartment listing sites. The October 2026 report covers asking rents across Canadian cities, including Vancouver and other Metro Vancouver municipalities. Daily Hive Vancouver reported on the October edition on November 12, 2026.
How do Vancouver rents compare with the rest of Metro Vancouver?
The Zumper Canadian Rent Report for October 2026 shows other Metro Vancouver cities experiencing steeper rent drops than Vancouver itself. For example, Burnaby one-bedroom asking rents fell 8.7 per cent year over year to $2,030 a month, a larger decline than Vancouver's 4 per cent drop for one-bedrooms.
What can renters in Vancouver do with this information?
Renters who are coming up for lease renewal or searching for a new place can use these figures as a reference point. Vancouver's median one-bedroom asking rent in October 2026 was $2,400 a month and the median two-bedroom was $3,300 a month, according to Zumper's data as reported by Daily Hive. These are asking rents on listing sites, so actual negotiated rents may differ.
Sources
The pages this story draws on. Open one to check a claim yourself.
- Daily Hive Vancouver, Zumper October 2026 rent reportdailyhive.com
- Zumper, Canadian Rent Reportzumper.com
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