Rental Market Report - March 2026

March 2026 rental data highlights a continued shift in Metro Vancouver’s rental market, with increasing supply and moderating demand shaping current conditions.

This report reviews key trends across Downtown Vancouver, Burnaby Brentwood, Richmond West Cambie, and Surrey City Centre, providing insight into inventory levels, rental pricing, and overall market positioning.

Active Rental Listings

Active rental listings reflect the amount of available inventory and the level of competition within each area. Higher listing volumes can indicate increased choice for renters, while lower inventory levels may suggest steady demand and tighter market conditions.

In March 2026, rental supply across Metro Vancouver remains elevated compared to previous years, supported by a continued influx of newly completed rental units and investor-held properties entering the rental pool. This increase in available inventory has contributed to a more balanced market, giving renters greater selection and negotiating flexibility.

Average Rental Rates by Bedroom Type

Reviewing rental pricing by bedroom type offers valuable insight into affordability, demand, and overall market direction across different unit sizes.

For March 2026, average rents across Metro Vancouver continue to show downward pressure year over year. One-bedroom units in particular have experienced some of the most notable declines, with rents decreasing by approximately 10% across the region compared to March 2025.

Sales and Rental Report March 2026

Rental Price Per Square Foot

Average rent per square foot remains one of the most effective ways to evaluate rental value across varying unit sizes. This metric allows for consistent comparisons between neighborhoods regardless of total square footage.

As of March 2026, average rental values in Vancouver sit at approximately $3.44 per square foot, reflecting a slight year over year decrease as overall rents continue to soften.

This section outlines the average rental price per square foot in each city, helping illustrate how Downtown Vancouver, Burnaby Brentwood, Richmond West Cambie, and Surrey City Centre compare in overall rental value.

Average rental price per square foot:

The March 2026 Rental Market Report highlights a continued shift toward more balanced rental conditions across Metro Vancouver. Increased inventory levels, combined with easing demand, have contributed to declining rental rates and improved choice for renters. While the market remains one of the most expensive in Canada, current conditions provide greater flexibility for tenants and require more strategic positioning for landlords.

These insights are designed to support informed leasing decisions, whether you are comparing unit types, evaluating value between cities, or monitoring broader rental trends.

Check back next month for our April 2026 Market report. If you have any questions, feel free to reach out.