The BC government says the province continues to lead the country when it comes to declining rental prices.

According to a new report from Rentals.ca, average asking rents in BC fell nearly 6-percent over the past year, the largest drop among Canada’s most populous provinces.

The report also found Vancouver recorded some of the biggest decreases nationally, including a 7-percent drop in one-bedroom apartment rents.

Housing Minister Christine Boyle says increased purpose-built rental housing and provincial housing policies are helping improve affordability and vacancy rates across BC.

Only BC and Ontario have seen rent declines over the past three years.

To read the Minister's statement about the May 2026 rental report, visit Government of British Columbia.