Emily Vu, Personal Real Estate Corporation

Sustainable Happiness, Sustainable Return


March 2024 Metro Vancouver Rent Report

March 2024 Metro Vancouver Rent Report

In March, Metro Vancouver's average rent prices have shown a decline after experiencing two consecutive month-to-month increases. According to the latest report from Liv.rent, the cost to rent a one-bedroom, unfurnished unit has decreased by $42 to $2,337 this March.

  1. Coquitlam experienced the largest year-over-year rent increase in Metro Vancouver.
  2. Metro Vancouver renters are now spending less on rent compared to the same period last year.
  3. Average rent prices in Metro Vancouver are displaying evident signs of deceleration compared to 2023.

Month-to-month rent changes:

  1. Langley (+2.50%) and Coquitlam (+2.37%) observed significant increases in average rent price for one-bedroom unfurnished units.
  2. Noteworthy decreases were recorded in West Vancouver (-4.89%), North Vancouver (-4.48%), Surrey (-4.45%), and Vancouver (-4.20%).

Changes in furnished one-bedroom unit rates:

  1. North Vancouver (+7.92%) and Surrey (+4.58%) witnessed the largest increases in rent price.
  2. Conversely, New Westminster (-8.80%), Langley (-5.62%), and Richmond (-5.61%) experienced the most substantial decreases in price.


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