Rental rates in Nanaimo continue to rise year over year, despite big drops in other communities across B.C. and Canada (Image Credit: Dreamstime)

By NanaimoNewsNOW Staff

rental availability

Nanaimo rents continue bucking national reduction trends

Mar 10, 2026 | 12:10 PM

NANAIMO — Despite consistent year-over-year drops in most parts of the country, rents continue rising in the Harbour City.

The March 2026 Rentals.ca report, released Monday, March 9, shows average rent prices nationwide fell 2.8 per cent year-over-year in February to $2,030, a 33-month low and the 17th consecutive month the number has fallen.

Nanaimo, however, continues to buck the trend amongst a list of the top 30 cities to rent in, of which Nanaimo is 30th.

Nanaimo’s increase was one per cent, with a one-bedroom apartment averaging $1,812 as of last month.

It joins Laval, QC (1.9 per cent), and the Ontario communities of Kingston (6.4 per cent), Waterloo (0.8 per cent) and Hamilton (2.7 per cent) as the only communities to show year-over-year rent increases for one-bedroom apartments.

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Laval (8.7 per cent), Hamilton (8.5 per cent), Kingston (23 per cent) and Nanaimo (7.2 per cent) also recorded increases for two-bedroom units year-over-year, as did Barrie, ON (0.2 per cent).

Landlords in Nanaimo are asking an average of $2,324 per month for a two-bedroom apartment.

All other municipalities in the top 30 most expensive cities recorded decreases in rent year-over-year.

One-bedroom apartments dropped nearly 13 per cent in Coquitlam (to $2,051), about six per cent in North Vancouver (to $2,465), and roughly five per cent in Victoria (to $1,998).

Two-bedroom units saw similar decreases of 21.3 per cent in Oakville, ON (to $2,254), 4.5 per cent in Vancouver (to $3,289), and 3.3 per cent in Victoria (to $2,607).

Average rent for all unit types fell in B.C. by 4.9 per cent, the biggest drop among surveyed provinces.

Rental rates and year-over-year pricing changes for the top 30 most expensive cities to rent in the country. (Image Credit: Rentals.ca)

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