Most Metro Vancouver cities saw a sharp drop in average asking rents in December 2025, except Burnaby, which had a slight 0.1% increase for one-bedroom units. North Vancouver became the most expensive city for one- and two-bedroom units, surpassing Vancouver. Vancouver experienced the steepest annual rent decline at 7.9%. Rents have declined for 15 consecutive months but remain 14.1% above December 2019 levels.