The B.C. government says new data shows rental prices are continuing to drop across the province, a trend it says is helping ease affordability pressures for renters.

A new report from Rentals.ca indicates average rents for all unit types fell in several of Canada’s largest provinces, with British Columbia seeing the biggest decline at 4.9 percent.

The report says rents dropped 4.7-percent in Ontario, 4.6-percent in Alberta, and 3.1 percent in Quebec.

Christine Boyle, Minister of Housing and Municipal Affairs says although rents are beginning to decline, more work is needed to ensure people can find homes they can afford in the communities where they live.

According to the data, purpose-built apartment and condominium asking rents in B.C. are now down 11.8 percent from their peak in September of 2023.

The province says more than 21 thousand purpose-built rental homes were completed last year - a 56 percent increase compared with the previous year.

The province also recorded about 25,900 housing registrations last year, which officials say shows strong interest from developers in continuing to build.

The government says its focus now is helping move those projects from planning stages to construction by reducing costs and speeding up approvals.

To view the Minister’s statement on the March 2026 rental report, visit Government of British Columbia.