Primary Market Rent by Occupancy

Information about general market rents does not completely reflect the reality of anyone who is looking to rent a home, particularly when relocating within the rental market. As supply pressures have increased in recent years, asking rents for vacant units have typically been higher than the rents of occupied units. Annual rent increases in occupied units are also limited by a maximum allowable rate set out by the BC Government each year. The same is not true for vacant units. Upon turnover, landlords can increase the rent by any amount, resulting in significantly higher asking market rents for vacant units.

Average rents of vacant and occupied units in purpose-built rental market

Difference in average rents of vacant and occupied units in purpose-built rental market

Difference between average rents of vacant and occupied units in Metro Vancouver

Key observations

The difference in average rent of vacant and occupied units in purpose-built rental market has fluctuated significantly over the past four years. In 2022, the gap was exceptionally high at $711, representing a 42.6% premium on vacant units, which suggests a tight rental market where landlords could secure much higher rents from new tenants than from existing ones. By 2023, the gap narrowed sharply to $328 (18.11%) indicating a temporary ease of market pressures. However, the moderation was short lived as the gap widened again to $633, with the percentage difference rising to 33%. In 2025, the gap narrowed again to $395 (20.2%), suggesting some stabilization in rent. Overall, this pattern indicates a volatile but persistent affordability challenge where newly available units consistently receive a notable premium in rents.
In 2025, the average asking rent for a vacant unit in Metro Vancouver was $2,350, 20.2% higher than the average rent for an occupied unit at $1,955.
The difference in rent between vacant and occupied units in 2025 was the highest among 3+ bedroom units (28.3% or $791).
In 2025, the highest average asking rents for vacant units were in District of North Vancouver at $3,215, followed by West Vancouver at $3,112.

Average rents of vacant and occupied units in purpose-built rental market

Notes

The glossary provides definitions of each technical term, ensuring consistent interpretation.
Jurisdiction and Metro Vancouver totals may not equal the sum of individual values due to rounding, data suppression, or the omission of smaller data points to maintain visual readability. If a geography is not listed or appears missing, the associated data was either unavailable or did not meet reporting thresholds.
Proportion percentages are calculated using available data and may exclude instances of missed or suppressed data.
Electoral Area A includes UBC/UEL (University of British Columbia / University Endowment Lands).
Data includes purpose-built apartments and rental townhouses.
The Canada Mortgage and Housing Corporation (CMHC) purpose-built market rental universe excludes secondary suites, non‐market rental units, and privately rented condominium units.

Source
This information is from Statistics Canada census data and the CMHC Rental Market Survey.

This website uses cookies to ensure you get the best experience. By continuing to use this site, you accept our use of cookies. View our privacy statement.