Burnaby one-bedroom asking rent falls 8.7% to $2,030, Zumper report says

Burnaby's median asking rent for a one-bedroom apartment fell 8.7 per cent year over year in October to $2,030, according to Zumper's latest rent report, Daily Hive Vancouver reported. That leaves it about $370 a month below Vancouver's one-bedroom figure of $2,400.

Zumper, a digital marketplace for renters and property managers, tracks asking rents on apartment listing sites. Burnaby's two-bedroom asking rents dropped 7.1 per cent, and Zumper named it, Quebec City and Hamilton as the three Canadian cities with the steepest declines. Daily Hive describes Burnaby as the second most expensive city to rent in Canada.

Vancouver is still the most expensive, with October median asking rents of $2,400 for a one-bedroom and $3,300 for a two-bedroom. Those are down four per cent and 1.5 per cent from the same period in 2025, a much smaller slide than Burnaby's.

Zumper said Burnaby is where Greater Vancouver's oversupply is hitting hardest. It cited CMHC's most recent annual survey, which puts Metro Vancouver's purpose-built vacancy rate at 3.7 per cent, the highest since 1988. That survey is a separate dataset from Zumper's listings.

Elsewhere in B.C., Abbotsford's one-bedroom asking rent rose 2.5 per cent, one of the top three increases in Canada. Zumper said the pipeline of new rental supply should keep downward pressure on rents into 2027.