After considerable time going against national trends of declining rents, the Harbour City has seen a drop year-over-year through August. (Image Credit: Rentals.ca)

By Alex Rawnsley

minor shift

Nanaimo rents start to trend down, joining long-time national trend

Aug 6, 2026 | 2:31 PM

NANAIMO — Rents in the Harbour City have finally joined the Canada-wide trend.

The most recent Rentals.ca Rent Report, published Thursday, Aug. 6, showed a 0.6 per cent drop year over year in rent for a one-bedroom apartment in Nanaimo, with an average price of $1,835.

It marks a long-awaited stabilization in the local market, as Nanaimo was consistently among a handful of cities across Canada to see considerable year-over-year increases, despite drops in most of the country.

A 4.5 per cent decrease was noted in B.C., and a four per cent drop occurred in Canada year-over-year for one-bedroom rentals.

Larger suites, however, saw an increase in Nanaimo with a 3.9 per cent jump for a two-bedroom apartment to $2,290 per month.

minor shift

Nanaimo rents start to trend down, joining long-time national trend

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Similar bumps were noted in Toronto (1.1 per cent), North York (five per cent), Brampton (4.6 per cent) and Laval (11.8 per cent).

Across all rental types, Nanaimo was listed as the 27th most expensive rental market in Canada, with an average price of $2,092.

Victoria placed 14th at $2,307, and North Vancouver led Canada with a total average price of $3,039, the only municipality with an average price in excess of $3,000.

The nationwide drop of four per cent across all property types was the 22nd consecutive month of year-over-year decline for rent but also represented the smallest such drop since February 2026.

B.C.’s 4.5 per cent decrease was tied for best in Canada, joining Ontario, however the province remains the most expensive rental market nationwide.

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by Alex Rawnsley

Nanaimo rents start to trend down, joining long-time national trend

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