Vancouver rents soften, spaces shrink
Vancouver’s avg. asking rent was the lowest in nearly 4 yr, even as Canada-wide rents eased.
From January 2026 to February 2026, Vancouver asking rent ↑~1% to ~$2.7K for apartments and condos.
Catch for renters: avg. space is shrinking, while price per sq-ft stayed stable yearly in Vancouver.
Vancouver avg. unit: ~650 sq-ft, costing ~$4.11 per sq-ft; among Canada’s priciest, with smallest units.
Smaller studios and 1-bed condos dominated new supply, skewing avg. sizes while keeping prices accessible to buyers.
I’m seeing Vancouver rents cool compared with last year, but renters are often getting less space for similar budgets. Smaller units are becoming the norm, shaped by new condo supply and affordability pressures.