Pace of Rent Increases Slows, but Housing Costs Still Rising in Metro Vancouver

Construction cranes tower above condos under construction near southeast False Creek in Vancouver, on Feb. 9, 2020. The Canadian Press/Darryl Dyck

The pace of rent increases in Metro Vancouver slowed last year compared with 2023 and the rental stock is growing, but the regional district says homelessness continues to rise and the wait-list for social housing grows.

Metro Vancouver has released its annual housing data, showing rent increases slowed to 4.5 percent in 2024, down from 9.1 percent the year before.