Langley rents slip again while Vancouver's turn the corner
A one-bedroom in Langley now averages $1,828 in asking rent, about 6% less than a year ago, and Langley has slipped to 19th on the national list. Vancouver and Toronto went the other way for the first time in nearly three years.
If you’re hunting for a rental in Langley, October was a slightly better month to be looking than last year.
The newest national rent report from Rentals.ca and Urbanation puts the average asking rent for a one-bedroom in Langley at $1,828, down 5.9% from a year earlier. A two-bedroom averaged $2,409, almost flat (down 0.5%).
Langley now ranks 19th on the list of Canada’s most expensive places to rent. It was 16th a year ago, and it has drifted down the list through the summer and fall.
The Vancouver twist
The bigger story in the report is next door. Vancouver’s average asking rent for apartments and condos went up year-over-year in October, to $2,735. That was the first annual increase there after 34 straight months of declines. Toronto flipped the same way.
The report’s authors say the two cities that peaked first in 2023 are now the first to level off. Rentals.ca told Daily Hive that Vancouver’s rise is mainly about supply tightening, with fewer units on the market. Urbanation’s president put it more bluntly in the release: “The window for cheaper rents is closing in Toronto and Vancouver.”
Langley isn’t there yet. Its numbers are still going down, but it’s worth watching next month’s report.
What kind of rental, and where
The national numbers show some patterns that line up with what Langley renters see:
- Condos rented by individual owners dropped the most among apartments (down 5.5% nationally). That’s a big share of Langley’s rental stock, especially in Willoughby, Willowbrook and Langley City.
- Purpose-built rental buildings held their prices better (down 2.1%). Their operators tend to offer a free month or other perks rather than cut the rent.
- Houses and townhouses for rent fell the most of all (down 6%).
- Across B.C., apartment and condo asking rents are down about 10% over three years.
What “asking rent” means for you
These figures are what landlords are asking new tenants on listings, not what everyone is paying. If you’ve been in the same place for a few years, your rent is likely lower. In B.C., the annual increase for an existing tenancy is capped at a rate the Province sets each year, and the cap for 2027 is 2.2% (see the Residential Tenancy Branch).
So the drop helps people who are moving. If you’re renewing a lease, or about to sign one, it’s a reasonable time to compare listings and ask whether there’s any room on price or move-in perks. That’s especially true for owner-rented condos and houses, which are dropping the most.
Looking at Langley?
Our community guides cover renting in more detail, including typical building types, transit and what to watch for:
And if you’re weighing renting against buying, our look at Langley’s October housing market has the latest sale prices.