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Monthly Rental Market Report March 2022

Continuing their unrelenting upward trend, Metro Vancouver’s rental averages have climbed another $16 from February. In fact, the region has seen only one month out of the past six where prices declined in the aggregate, and that was a mere $4 drop from December to January. This month, Vancouver’s rent prices have risen even further above the $1,800 mark, at $1,856 for March. Once again, most of the major price increases came from outside Vancouver itself, where rent prices remained largely the same this month. Areas like Langley, Coquitlam, and North Vancouver saw comparatively significant gains this month, particularly for unfurnished, one-bedroom units.

Rental Market Report March