Richmond has become one of Metro Vancouver’s most stable and attractive rental markets, offering strong tenant demand, excellent transit connectivity, and a diverse renter demographic. With proximity to Vancouver, YVR Airport, and major employment hubs, Richmond continues to appeal to professionals, families, international tenants, and long-term residents.
This guide covers the Richmond rental market outlook for 2025-2026, average rental prices, best neighbourhoods for investment, furnished rental trends, and how property owners can maximize returns.
This guide covers the Richmond rental market outlook for 2025-2026, average rental prices, best neighbourhoods for investment, furnished rental trends, and how property owners can maximize returns.
Richmond Rental Market Outlook for 2025–2026
Richmond’s rental market remains competitive, with steady rent growth and low vacancy across most neighbourhoods. Demand is driven by families, airport-related employment, healthcare professionals, and international tenants seeking well-managed homes.
Many owners choose professional Richmond property management to ensure proper pricing, tenant screening, and compliance with BC tenancy regulations.
Many owners choose professional Richmond property management to ensure proper pricing, tenant screening, and compliance with BC tenancy regulations.
Average rent ranges for 2025:
Units close to SkyTrain stations and major shopping centres continue to rent the fastest.
- One-bedroom apartments: $2,300-$2,800
- Two-bedroom apartments: $3,000-3,800
- Furnished one-bedrooms: $2,600-$3,300
- Furnished two-bedrooms: $3,500-$4,300
Units close to SkyTrain stations and major shopping centres continue to rent the fastest.
Why Richmond Is a Strong Rental Investment City
Richmond offers a balance of affordability, accessibility, and tenant stability that appeals to many property owners.
Proximity to Vancouver and YVR
Richmond’s location near Downtown Vancouver and Vancouver International Airport makes it ideal for airline employees, logistics professionals, and corporate travellers.
Strong Family-Oriented Demand
Richmond attracts long-term tenants looking for good schools, parks, and larger living spaces.
Transit-Oriented Development
The Canada Line connects Richmond directly to Downtown Vancouver, creating strong rental demand near Brighouse, Aberdeen, and Bridgeport stations.
Lower Turnover Than Downtown Vancouver
Compared to the Vancouver rental market, Richmond typically sees longer tenancy durations and lower turnover.
Best Neighbourhoods in Richmond for Rental Investment
Richmond City Centre (Brighouse Area)
The most in-demand area for rentals, offering SkyTrain access, shopping, and newer condo developments.
Best-performing units:
Best-performing units:
- One-bedroom condos
- Two-bedroom units near transit
- Furnished rentals for relocations
Aberdeen and Lansdowne
Popular with professionals and international tenants due to transit access and proximity to major malls.
Best-performing units:
- Modern condos
- Furnished one-bedrooms
- Units with parking
Steveston
A family-friendly neighbourhood with strong long-term demand and lower turnover.
Best-performing units:
- Townhomes
- Two- and three-bedroom homes
- Unfurnished long-term rentals
East Richmond
More affordable options with stable demand from airport and logistics workers.
Best-performing units:
Best-performing units:
- Two-bedroom condos
- Ground-level suites
- Long-term rentals
Furnished Rentals in Richmond Are Gaining Popularity
Demand for furnished rentals in Richmond continues to grow, particularly near Canada Line stations and YVR, as tenants seek flexibility and move-in-ready homes. Relocation clients, airline staff, visiting professionals, and international arrivals increasingly prefer furnished options.
Owners offering furnished rentals often benefit from faster leasing and higher monthly rents compared to unfurnished units.
Learn more about furnished rental services
Owners offering furnished rentals often benefit from faster leasing and higher monthly rents compared to unfurnished units.
Learn more about furnished rental services
What Types of Units Rent the Fastest in Richmond?
One-Bedroom Condos Near Transit
Ideal for professionals, airport staff, and international tenants.
Two-Bedroom Family-Friendly Units
Strong demand from families seeking space and stability.
Furnished Units Near YVR
High demand from short- to mid-term tenants and corporate clients.
Townhomes and Newer Low-Rise Buildings
Typically experience longer tenancy durations and strong tenant quality.Rental Growth Expectations for 2026
Richmond rents are projected to increase by 3-6 percent in 2026 due to:
- Low vacancy rates
- Steady population growth
- Limited new rental inventory
- Strong demand for transit-oriented housing
- Rising interest in furnished rentals
How FIFA 2026 Will Impact Richmond Rentals
With Vancouver hosting FIFA World Cup matches in 2026, Richmond is expected to benefit from overflow rental demand due to its proximity to YVR and direct transit connections to Downtown Vancouver.
Owners interested in short-term or furnished stays can learn more about FIFA 2026 rental opportunities and how to prepare their property for the event.
Owners interested in short-term or furnished stays can learn more about FIFA 2026 rental opportunities and how to prepare their property for the event.
Tips to Maximize Your Richmond Rental Income
Target the Right Tenant Profile
Understanding whether your unit suits families, professionals, or relocations helps maximize returns.
Maintain Strong Presentation
Clean, well-maintained homes rent faster and attract higher-quality tenants.
Consider Furnishing Strategically
Furnished units near transit and YVR often command higher rents.
Work With a Local Property Manager
Professional property management in Richmond ensures compliance, strong tenant screening, and consistent income.
Richmond vs Vancouver and Burnaby for Investors
Compared to Vancouver, Richmond typically offers longer tenancies and lower turnover.
When compared to the Burnaby rental market, Richmond attracts more family-oriented tenants and airport-related professionals.
When compared to the Burnaby rental market, Richmond attracts more family-oriented tenants and airport-related professionals.
Together, Vancouver, Burnaby, and Richmond provide a balanced Metro Vancouver investment portfolio.
Final Thoughts: Richmond Remains a Stable Rental Market
Richmond offers property owners a reliable rental market with steady demand, strong tenant quality, and long-term growth potential. Owners who focus on location, presentation, and tenant screening will continue to see solid performance throughout 2025 and 2026.
My Dream Realty provides full-service property management across Richmond, including tenant screening, marketing, rent collection, and ongoing support. If you’re considering renting out your Richmond property, we offer free rental evaluations and tailored management solutions.
My Dream Realty provides full-service property management across Richmond, including tenant screening, marketing, rent collection, and ongoing support. If you’re considering renting out your Richmond property, we offer free rental evaluations and tailored management solutions.
Frequently Asked Questions About the Richmond Rental Market
Is Richmond a good place to invest in rental property?
Yes. Richmond offers stable demand, lower turnover, and strong long-term tenants.
What is the most popular rental area in Richmond?
Richmond City Centre near Brighouse Station remains the most in-demand.
Are furnished rentals profitable in Richmond?
Yes, especially near YVR and Canada Line stations.
How fast do rentals lease in Richmond?
Most well-priced units rent within 10-14 days.
Will rents continue to rise in 2026?
Moderate growth of 3-6 percent is expected depending on location and unit type.