More British Columbians will be able to find a home they can afford and build a life in the community they love as the Province continues to tie the annual allowable rent increase to inflation at 2.2% in 2027, down from 2.3% in 2026.

“At a time when many people are feeling the impact of rising costs, linking rent increases to inflation helps renters, including seniors and families, meet their housing expenses, while also ensuring landlords can continue providing stable, well-maintained homes for renters for years to come,” said Christine Boyle, Minister of Housing and Municipal Affairs. “Our focus from the start has been on helping people across B.C. find housing that fits their needs and budgets. Thanks to our work to increase housing supply, crack down on illegal short-term rentals and limit foreign investment in the housing market, B.C. has seen a 4.5% decrease in overall average rents.”

Before 2019, renters faced an additional 2% rent increase in addition to inflation, costing the average B.C. family hundreds of dollars in additional rent. If the change had not taken place, allowable rent increases would have reached 5.4% in 2023 and 5.6% in 2024.

The maximum annual allowable rent increase for 2027 takes effect on Jan. 1, 2027. Announcing the increase now provides landlords time to give the required minimum of three months notice of the change so renters can plan ahead. Landlords can only increase rent once every 12 months and any increase must be within the yearly allowable rent increase limit.

The announcement follows a recent report by Rentals.ca that shows provincial initiatives to increase rental housing supply continue to have positive impacts, with average asking rents decreasing by 4.5% overall and 4.1% for purpose-built rentals and apartments in the province. B.C. had five cities in the top 15 cities with the largest year-over-year decreases in rents within purpose-built rentals: Abbotsford (-12.4%), Langley (-7.6%), Coquitlam (-7.3%), New Westminster (-6.6%) and Richmond (-6.1%).