The province says British Columbia continues to lead the country when it comes to declining rental prices, according to a new national report.

Data released by Rentals.ca shows B.C.’s average asking rent for apartments dropped 4.8 percent.

That compares with declines of 4.6 percent in Alberta and 4.4 percent in Ontario.

The report also found that purpose-built apartment and condo asking rents in B.C. were down 12.2 percent from their peak in August 2023.

Among the country’s six largest rental markets, Vancouver recorded the largest three-year decrease, with rents falling 14.1 percent.

Outside those major markets, five B.C. communities ranked among the 15 biggest rent decreases.

Richmond saw rents drop 16.5 percent, followed by New Westminster at 11.3 percent, Coquitlam at 11 percent, Burnaby at 10.6 percent and Surrey at 7.1 percent.

To view the statement from Christine Boyle, Minister of Housing and Municipal Affairs, on the April 2026 rental report, visit Government of British Columbia.