A softer rental market can offer more options without resolving the shortage of homes affordable to lower-income households. CMHC’s 2025 Rental Market Report illustrates that distinction in Vancouver.

The report recorded a 3.7% vacancy rate for purpose-built rentals in the Vancouver census metropolitan area. It also found that vacancies among units affordable to lower-income households remained limited. These are findings for the 2025 survey period, not a live measure of October 2026 conditions.

For renters and property investors, the practical reporting question is which segment is changing. Purpose-built apartments and rental condominiums are different populations. New leases and existing tenancies can also tell different stories. A city-wide number deserves the context of unit type, location, rent level and survey date.

The sources behind the story

Follow the original evidence. These sources inform our reporting; they do not endorse this publication.

Canada Mortgage and Housing Corporation2025 Rental Market Report

This article was prepared with AI assistance from the primary sources linked above. REAL Newsroom is our institutional byline. Historical data is identified by its reference period. Read our editorial standards.