Key Takeaways
- 5,934 condos and apartments are listed for sale in Greater Vancouver as of October 2026, with a median asking price of $689,000.
- One-bedroom units show a median asking price of $549,000; two-bedroom units $779,900.
- Average rent in the purpose-built rental universe reached $2,364 in the 2025 survey, up from $2,313 the year before.
- The Bank of Canada policy rate sits at 2.25%, while the five-year posted mortgage rate stands at 6.09%—most borrowers negotiate below the posted figure.
- The Canada Revenue Agency requires rental income and deductible expenses to be reported on Form T776; investors must understand carrying costs, vacancy risk and strata restrictions before committing.
What the Listings Show
As of October 2026, Greater Vancouver offers 5,934 condos and apartments for sale, representing just under half of all residential listings in the region. The median asking price is $689,000, and units have spent a median of 52 days on the market so far. Among the 2,159 condos first listed in the last 30 days, the median asking price is $688,000.
Investors typically focus on one- and two-bedroom units because they attract the widest pool of renters. Right now, 2,122 one-bedroom homes are listed across all property types, with a median asking price of $549,000. The 3,777 two-bedroom listings carry a median asking price of $779,900. Not every one-bedroom or two-bedroom listing is a condo—the count includes townhouses and a small number of detached homes—but condos dominate the lower end of the price spectrum.
Looking at price bands, 1,158 listings ask under $500,000, and another 2,774 fall between $500,000 and $749,999. Together, those two brackets account for just under 29% of all active listings. The next tier, $750,000 to $999,999, holds 2,110 listings. Investors shopping for a rental property will find the largest selection in these three ranges, which align closely with one- and two-bedroom condo asking prices.
What Rent Data Shows
The Canada Mortgage and Housing Corporation surveys the purpose-built rental universe each October. The 2025 survey recorded an average rent of $2,364 in Greater Vancouver, up from $2,313 in 2024. That survey captures buildings designed and operated as rentals; it does not track asking rents on new listings or investor-owned condos, and it lags current market conditions by several months.
Still, the figure offers a benchmark. Investors use it to estimate potential income, knowing that actual rent depends on the unit's size, condition, location and whether utilities are included. A one-bedroom condo in Burnaby near transit may command a different rent than a similar unit farther from SkyTrain, and a two-bedroom in Richmond with in-suite laundry will attract higher rent than one without.
How Borrowing Costs Shape the Decision
The Bank of Canada policy rate stands at 2.25% as of the end of September 2026. That rate influences variable-rate mortgages and the pricing of new fixed-rate contracts. The five-year posted rate at the major chartered banks is 6.09%, though most borrowers negotiate a rate below that posted figure.
Investors think about borrowing costs in relation to rent. A higher mortgage rate increases monthly carrying costs—the sum of the mortgage payment, property tax, strata fees, insurance and utilities the landlord pays. When carrying costs exceed rent, the investor covers the shortfall from other income, a situation called negative cash flow. When rent exceeds carrying costs, the property generates positive cash flow.
Borrowing costs also affect the down payment required. Rental properties do not qualify for the insured mortgage programs available to owner-occupiers, so lenders typically require at least 20% down and sometimes more. The larger the down payment, the smaller the mortgage and the lower the monthly interest cost.
Carrying Costs, Vacancy and Strata Rules
Carrying costs include more than the mortgage. Property tax, strata fees, insurance and sometimes utilities add hundreds of dollars each month. Strata fees vary widely—older buildings with fewer amenities may charge less, while newer towers with concierges, gyms and guest suites charge more. Investors review strata documents before buying to confirm the monthly fee, the contingency reserve fund balance and any upcoming special assessments.
Vacancy is the period between tenants when no rent arrives but carrying costs continue. Even a well-maintained unit in a strong rental market may sit empty for a few weeks during turnover. Investors budget for vacancy by setting aside a portion of annual rent, knowing that one or two months without income can erase several months of positive cash flow.
Strata bylaws govern whether a unit can be rented at all, and if so, under what conditions. Some buildings prohibit rentals entirely. Others allow long-term rentals but ban short-term rentals—stays under 30 days—through platforms or other arrangements. Investors must read the bylaws and confirm that the strata council permits the intended use. A building that restricts rentals may be unsuitable regardless of price or location.
What the Canada Revenue Agency Requires
The Canada Revenue Agency treats rental income as property income, not business income, in most cases. Landlords report rent received and deductible expenses on Form T776, Statement of Real Estate Rentals. Rental income includes all amounts received from tenants, whether for rent, utilities or other services.
Deductible expenses include advertising, insurance, interest on the mortgage, office expenses, professional fees such as accounting and legal costs, management and administration fees, repairs and maintenance, salaries and wages, property taxes, travel, utilities and motor vehicle expenses. Prepaid expenses—amounts paid in one year for services in a future year—must be deducted in the year the expense applies, not the year it was paid.
The guide distinguishes between current expenses and capital expenses. Current expenses maintain the property in its existing condition and are deductible in the year incurred. Capital expenses improve the property beyond its original state or extend its useful life; these costs are not deductible immediately but are claimed over time through capital cost allowance.
Investors cannot deduct the principal portion of mortgage payments, only the interest. They cannot deduct the value of their own labour. If the property is used partly for personal purposes—a vacation property rented out for part of the year, for example—only the portion of expenses related to rental use is deductible.
The guide also explains that if a property is rented below fair market value to a family member or friend, the Canada Revenue Agency may limit the expenses you can deduct to the amount of rental income, preventing you from claiming a loss.
What It Means for Investors
Buying a condo to rent out in Greater Vancouver right now means navigating a market with nearly 6,000 condo listings, asking prices that cluster between $549,000 for one-bedroom units and $779,900 for two-bedroom units, and borrowing costs shaped by a policy rate at 2.25%. The purpose-built rental survey shows average rent at $2,364, but that figure is a benchmark, not a guarantee.
Investors weigh the asking price against potential rent, estimate carrying costs including mortgage interest, strata fees, property tax and insurance, and plan for vacancy. They review strata bylaws to confirm rentals are permitted and check the contingency reserve fund for signs of deferred maintenance. They consult the Canada Revenue Agency guide to understand which expenses are deductible and how to report rental income correctly.
The decision hinges on whether the numbers work—not just today, but over the holding period. A property that generates a small monthly loss may still make sense if the investor expects rent to rise, the mortgage balance to decline and the property to appreciate. A property that generates positive cash flow from the start offers immediate income but may be in a location with less upward price potential.
What It Means for Sellers
Sellers with condos listed in the one- and two-bedroom range are competing for attention from both owner-occupiers and investors. Investors look for units that will attract reliable tenants: proximity to transit, in-suite laundry, parking and storage, and buildings with reasonable strata fees and healthy reserve funds. A condo that appeals to renters will appeal to investors.
Strata documents matter. A building with a rental restriction or a history of special assessments will deter investor buyers, narrowing the pool. Sellers who provide up-to-date strata minutes, financial statements and a clear rental policy make it easier for investors to evaluate the property quickly.
Pricing must account for the fact that investors calculate value differently than owner-occupiers. An investor compares the asking price to the rent the unit can command and the carrying costs it will incur. A seller asking $779,900 for a two-bedroom condo is competing with other two-bedroom listings at similar prices, and the investor will choose the one that offers the best combination of rent potential, location and low strata fees.
Outlook
The supply of condos for sale in Greater Vancouver remains substantial, giving investors a wide selection. Borrowing costs have declined from their recent peaks, improving the arithmetic for leveraged purchases. Rent growth has slowed compared to the sharp increases seen in earlier years, but the purpose-built rental universe continues to show year-over-year gains.
Investors entering the market now will find asking prices that reflect current conditions, not the lower prices of several years ago. The decision to buy a rental property depends on individual circumstances—available capital, risk tolerance, time horizon and the ability to manage a tenant relationship or pay a property manager to do so.
The regulatory environment also matters. Strata councils, municipal bylaws and tax rules all shape what an investor can do with a property and how much income it will generate after expenses. Those variables will continue to evolve, and investors must stay informed.
If you are considering a condo purchase for rental income, explore Greater Vancouver listings to see what is available in your target price range and location, or request a free home valuation to understand what a property you already own might command in the current market.
Sources
Renanza Realty — Analysis of active MLS® listings (CREA DDF®) — Greater Vancouver, October 2026 Bank of Canada — Target for the overnight rate (policy interest rate), September 2026 Bank of Canada — Conventional mortgage, 5-year posted rate (major chartered banks), September 2026 Canada Mortgage and Housing Corporation (via Statistics Canada) — CMHC average rents by centre (Table 34-10-0133-01), 2025 survey Canada Revenue Agency — Rental income (guide T4036), 2025 edition
Data last checked: 2026-10-01
