Metro Vancouver rent prices dropped for the third consecutive month in June.
The price for a newly-listed unfurnished, one-bedroom rental unit decreased by $52 from $2,275 to $2,223 this month, according to the June 2025 report from liv.rent.
June rent is also down $114 year-over-year, according to the report data. Unfurnished and furnished one-bedroom unit prices dropped by over two per cent, with furnished units averaging $2,333 for the region (-2.32 per cent).
"Despite the dip, furnished units continue to command a premium, averaging $110 more per month than their unfurnished counterparts," note the report's authors.
All five of Canada's priciest cities are located in Metro Vancouver this June.
Metro Vancouver rental housing: Average rent by listing type
West Vancouver remains Canada's most expensive city in which to rent a newly-listed, one-bedroom furnished rental unit, averaging $2,598 in June, down $156 from $2,754 in May. It also had the most expensive two- and three-bedroom rentals, with prices averaging $3,578 and $5,011, respectively.
North Vancouver is the second-most-expensive city for renters in the Lower Mainland, with prices averaging $2,473, down significantly from $2,529.
Vancouver is the third most expensive city to rent in again after being surpassed by Richmond in May. This month, a one-bedroom unfurnished unit rents for $2,436, up from $2,408 in May.
Richmond is the fourth-priciest city this month, with one-bedrooms renting for $2,384, down by $52 from 2,437 in May.
Burnaby rounds out the top five most expensive cities, with newly listed one-bedrooms averaging $2,249 in June, down by $3 from $2,252 in May.
Surrey continues to offer the most affordable rent for all types of unfurnished units, with one-bedroom units averaging $1,865, two-bedroom units averaging $2,307, and three-bedroom units averaging $3,070.
Langley had the lowest average rental rates when looking at one-bedroom furnished units, with prices averaging $1,802, and two-bedroom furnished units averaging $2,341.
Surrey has the region's cheapest three-bedroom furnished units, with prices averaging $3,383.
Vancouver rent by neighbourhood in June
Downtown is now the most expensive Vancouver neighbourhood in which to rent a one-bedroom, unfurnished unit, with new listings averaging $2,764 in June.
The West Point Grey/UBC neighbourhood was a close second, with its units renting for $2,747.
Mount Pleasant rounded out the top three Vancouver neighbourhoods, with rents averaging $2,429. Kitsilano had the fourth most-expensive units, with its units renting for an average of $2,411.
Shaughnessy's units landed the area fifth in June, averaging $2,366.
Hastings-Sunrise remains the most budget-friendly Vancouver neighbourhood for new listings, at just $1,895 for a one-bedroom unfurnished unit.
Liv.rent notes that Downtown Vancouver - the most expensive neighbourhood to rent in - costs a staggering an average of $869 more than the affordable Hastings-Sunrise area.
