Market report · September 2026 edition
Metro Vancouver commercial lease rates: September 2026
The median asking rate for commercial space in Metro Vancouver is $28 per sq ft per year, with the middle half of listings between $20 and $43.53, across 1,216 live listings. By asset type the medians are $35.03 office, $39.08 retail and $21 industrial.
Asking rates from 1,216 live listings · updated September 17, 2026 · refreshed monthly
Asking rent by asset type
Sep 2026 editionOffice
n = 292 priced · 612 listings
$35.03per sq ft / yr
$22.39 to $48.86
Retail
n = 166 priced · 256 listings
$39.08per sq ft / yr
$28 to $55
Industrial
n = 243 priced · 348 listings
$21per sq ft / yr
$18 to $25
All asset types
middle 50%: $20 to $43.53 · n = 701
$28
Asking base rent, CAD per sq ft per year. Bars show the middle 50% of listings on a $0 to $70 scale. Updated September 17, 2026.
What is the average commercial lease rate in Metro Vancouver right now?
In September 2026, commercial space in Metro Vancouver is asking a median of $28 per sq ft per year (n = 701), and the middle 50% of listings sit between $20 and $43.53. Office space asks a median of $35.03 (n = 292), retail $39.08 (n = 166) and industrial $21 (n = 243). We report the median (the middle listing) and not the mean, because a handful of very expensive or very cheap listings would pull an average around.
$28
Median asking rate
Per sq ft per year, all asset types, n = 701
$20 to $43.53
Middle 50% of listings
25th to 75th percentile asking rate
1,216
Live listings tracked
701 show a price and size we can convert to a rate
1,400 sq ft
Median unit size
This is small-space data, not tower floors
Asking rate range by asset type
CAD per sq ft per year
Office
$22 – $35 – $49
n = 292 priced of 612 listings · median size 887 sq ft · Office, medical, professional and studio space
Retail
$28 – $39 – $55
n = 166 priced of 256 listings · median size 1,234 sq ft · Street retail, plaza units and mixed-use ground floor
Industrial
$18 – $21 – $25
n = 243 priced of 348 listings · median size 2,528 sq ft · Warehouse, small-bay and flex industrial
Asking rates from 1,216 live listings, updated September 17, 2026. Asking base rent in CAD per sq ft per year; additional rent and GST are on top. Asking is not achieved.
Read the range, not only the middle. Retail has the widest spread this month ($28 to $55) and industrial the tightest ($18 to $25). If your space sits above the 75th percentile for its type, the listing has to show tenants why.
What do office, retail and industrial spaces lease for in each city?
In Vancouver, the largest sample in this edition, office space asks a median of $33.59 per sq ft per year (n = 162), retail $45 (n = 109) and industrial $20.90 (n = 168). The table below gives the same three figures for all 15 cities we track, ordered by number of listings. 19 of the 45 city and asset type combinations have at least 5 priced listings this month. The rest are marked "too few listings" and no number is shown.
Median asking rate by city and asset type
Swipe sideways to see the full table
| City | Office | Retail | Industrial |
|---|---|---|---|
| Vancouver716 listings | $33.59n = 162 | $45.00n = 109 | $20.90n = 168 |
| North Vancouver87 listings | $28.50n = 30 | $40.42n = 14 · thin | $23.52n = 8 · thin |
| New Westminster71 listings | $47.77n = 32 | $36.00n = 7 · thin | too few listingsn = 3 |
| Richmond59 listings | $20.49n = 10 · thin | too few listingsn = 4 | $24.61n = 18 |
| Burnaby53 listings | $44.00n = 14 · thin | too few listings | too few listingsn = 3 |
| Port Coquitlam38 listings | too few listingsn = 2 | too few listingsn = 3 | $19.75n = 26 |
| Abbotsford30 listings | too few listingsn = 0 | too few listingsn = 1 | too few listingsn = 2 |
| Maple Ridge29 listings | too few listingsn = 4 | $35.00n = 12 · thin | $16.50n = 5 · thin |
| Surrey27 listings | $36.60n = 8 · thin | too few listings | too few listingsn = 2 |
| Langley27 listings | $40.61n = 12 · thin | too few listings | too few listingsn = 2 |
| White Rock24 listings | $35.00n = 10 · thin | $28.00n = 7 · thin | too few listings |
| West Vancouver18 listings | $52.00n = 5 · thin | too few listingsn = 4 | too few listings |
| Port Moody10 listings | too few listings | too few listings | too few listings |
| Delta9 listings | too few listings | too few listings | too few listingsn = 3 |
| Mission7 listings | too few listings | too few listings | too few listings |
Asking rates from 1,216 live listings, updated September 17, 2026. Asking base rent in CAD per sq ft per year; additional rent and GST are on top. Asking is not achieved. n = priced listings behind each median. "Thin" marks samples under 15; cells under 5 are suppressed.
The second table combines all asset types for each city and adds the spread and the typical unit size. Use it to see what kind of space is on the market in each city: a city where the median unit is under 1,000 sq ft is mostly small office suites, and one where it is over 2,500 sq ft is mostly industrial bays.
All asset types, by city
Swipe sideways to see the full table
| City | Median | 25th pct | 75th pct | Listings | Median size |
|---|---|---|---|---|---|
| Vancouver | $26.00n = 439 | $20.00 | $43.00 | 716 | 1,330 sq ft |
| North Vancouver | $29.80n = 52 | $23.28 | $43.42 | 87 | 1,489 sq ft |
| New Westminster | $41.36n = 42 | $25.00 | $50.43 | 71 | 903 sq ft |
| Richmond | $25.84n = 32 | $19.25 | $34.66 | 59 | 1,800 sq ft |
| Burnaby | $36.82n = 18 | $29.68 | $66.45 | 53 | 759 sq ft |
| Port Coquitlam | $20.00n = 31 | $18.00 | $22.00 | 38 | 2,925 sq ft |
| Abbotsford | too few listingsn = 3 | · | · | 30 | 3,087 sq ft |
| Maple Ridge | $31.87n = 21 | $17.00 | $35.00 | 29 | 1,652 sq ft |
| Surrey | $35.00n = 11 · thin | $24.34 | $46.52 | 27 | 1,117 sq ft |
| Langley | $39.11n = 15 | $24.91 | $52.54 | 27 | 1,720 sq ft |
| White Rock | $29.17n = 18 | $20.75 | $44.75 | 24 | 748 sq ft |
| West Vancouver | $52.00n = 9 · thin | $38.56 | $60.14 | 18 | 900 sq ft |
| Port Moody | too few listingsn = 2 | · | · | 10 | 1,288 sq ft |
| Delta | $22.79n = 6 · thin | $20.38 | $44.62 | 9 | 2,275 sq ft |
| Mission | too few listingsn = 0 | · | · | 7 | 2,241 sq ft |
Asking rates from 1,216 live listings, updated September 17, 2026. Asking base rent in CAD per sq ft per year; additional rent and GST are on top. Asking is not achieved.
Which cities are most and least expensive?
West Vancouver has the highest median asking rate in this edition at $52 per sq ft per year (n = 9, thin sample), and Port Coquitlam has the lowest at $20 per sq ft per year (n = 31). Much of that gap is the mix of space, not the address: in West Vancouver, 10 of 18 listings are office, while in Port Coquitlam, 28 of 38 listings are industrial. Small office suites ask more per square foot than large industrial bays ($35.03 against $21 Metro-wide), so a city's all-types median follows what is on the market there. For a fair comparison, use the like-for-like cards under the chart, which rank cities within one asset type.
Cities ranked by median asking rate, all asset types
CAD per sq ft per year
1. West Vancouver
$38.56 – $52.00 – $60.14
n = 9 (thin sample) · 10 of 18 listings are office
2. New Westminster
$25.00 – $41.36 – $50.43
n = 42 · 53 of 71 listings are office
3. Langley
$24.91 – $39.11 – $52.54
n = 15 · 16 of 27 listings are office
4. Burnaby
$29.68 – $36.82 – $66.45
n = 18 · 41 of 53 listings are office
5. Surrey
$24.34 – $35.00 – $46.52
n = 11 (thin sample) · 19 of 27 listings are office
6. Maple Ridge
$17.00 – $31.87 – $35.00
n = 21 · 12 of 29 listings are retail
7. North Vancouver
$23.28 – $29.80 – $43.42
n = 52 · 54 of 87 listings are office
8. White Rock
$20.75 – $29.17 – $44.75
n = 18 · 16 of 24 listings are office
9. Vancouver
$20.00 – $26.00 – $43.00
n = 439 · 337 of 716 listings are office
10. Richmond
$19.25 – $25.84 – $34.66
n = 32 · 26 of 59 listings are office
11. Delta
$20.38 – $22.79 – $44.62
n = 6 (thin sample) · 5 of 9 listings are industrial
12. Port Coquitlam
$18.00 – $20.00 – $22.00
n = 31 · 28 of 38 listings are industrial
Asking rates from 1,216 live listings, updated September 17, 2026. Asking base rent in CAD per sq ft per year; additional rent and GST are on top. Asking is not achieved. Not ranked, fewer than 5 priced listings: Abbotsford, Port Moody, Mission.
Office, like for like
9 cities with n of 5 or more
- Highest
- West Vancouver
- Lowest
- Richmond
$52.00n = 5 · thin
$20.49n = 10 · thin
Retail, like for like
5 cities with n of 5 or more
- Highest
- Vancouver
- Lowest
- White Rock
$45.00n = 109
$28.00n = 7 · thin
Industrial, like for like
5 cities with n of 5 or more
- Highest
- Richmond
- Lowest
- Maple Ridge
$24.61n = 18
$16.50n = 5 · thin
How many owners are leasing their space themselves?
461 of the 1,216 live listings (38%) are posted by the owner directly, not by a brokerage or a management firm. The share is 56% for office, 16% for retail and 23% for industrial. Among cities with at least 20 listings, Burnaby is highest at 94% and Port Coquitlam is lowest at 16%.
Share of listings posted by the owner
% of live listings
All cities
461 of 1,216
38%
Vancouver
152 of 716
21%
North Vancouver
61 of 87
70%
New Westminster
37 of 71
52%
Richmond
49 of 59
83%
Burnaby
50 of 53
94%
Port Coquitlam
6 of 38
16%
Abbotsford
10 of 30
33%
Maple Ridge
6 of 29
21%
Surrey
18 of 27
67%
Langley
24 of 27
89%
White Rock
13 of 24
54%
West Vancouver
12 of 18 · small sample
67%
Port Moody
6 of 10 · small sample
60%
Delta
5 of 9 · small sample
56%
Mission
6 of 7 · small sample
86%
Owner-posted means the poster presents as the owner of the space in the listing. 1,216 live listings, updated September 17, 2026. Cities ordered by number of listings.
For an owner this number is about competition for tenant attention. A tenant searching for small space in your city is scrolling past every one of these listings, and many give a rate with no size, or no rate at all: only 701 of the 1,216 listings here (58%) give enough information to work out a rate per square foot. A listing with a clear rate, the area, the zoning, additional rent and proper photos stands out quickly in that field.
Run your own listing through the commercial listing audit to see what it is missing, and read how to find a tenant for your commercial property for where tenants actually look and how we qualify them.
How do I convert a per-square-foot rate into monthly rent?
Multiply the rate by the area, then divide by 12. The median space in this report is 1,400 sq ft and the median asking rate is $28 per sq ft per year, so 1,400 × $28 = $39,200 a year, or $3,267 a month in base rent.
Monthly base rent for the median space, by asset type
Swipe sideways to see the full table
| Asset type | Base rent per month | Median size | Median rate | Base rent per year |
|---|---|---|---|---|
| Office | $2,589 | 887 sq ft | $35.03n = 292 | $31,072 |
| Retail | $4,019 | 1,234 sq ft | $39.08n = 166 | $48,225 |
| Industrial | $4,424 | 2,528 sq ft | $21.00n = 243 | $53,088 |
| All asset types | $3,267 | 1,400 sq ft | $28.00n = 701 | $39,200 |
Median size × median asking rate ÷ 12. Base rent only, before additional rent and 5% GST. 1,216 live listings, updated September 17, 2026.
That figure is base rent, and most Metro Vancouver commercial leases are net leases. On a net lease the tenant also pays additional rent, which is their share of property tax, building insurance and operating costs, plus 5% GST on the total. On a gross lease one rent covers everything and the landlord pays those costs out of it, so a gross rate and a net rate are not comparable until you add the additional rent back. Our guide to commercial lease types in BC walks through the difference, and the net effective rent calculator converts an offer with free rent and allowances into one comparable number.
How is this data collected, and what are its limits?
We collect live public commercial-for-lease listings on Craigslist and Kijiji across Metro Vancouver and the Fraser Valley, every day. This edition covers 1,216 live listings, of which 701 show a price and a size we can turn into a rate. These are asking rates, not achieved rents. Achieved rents are typically lower once free rent and tenant improvement allowances are counted.
Collected daily
Live public listings from Craigslist and Kijiji, for lease only. Expired listings drop out, so every edition is a picture of what is on the market on the update date.
De-duplicated
The same space re-posted or cross-posted is counted once. Land and development sites are excluded.
Normalised to $/sq ft/yr
Monthly and annual rents are converted to dollars per square foot per year using the area in the listing. A listing with no price or no usable area counts as a listing but not toward a rate.
Outliers removed
Rates under $4 or over $120 per sq ft per year are treated as data errors and left out. Areas under 150 sq ft are ignored.
Thin samples handled
A rate with fewer than 5 priced listings behind it is suppressed. A rate with fewer than 15 is published and marked thin. Every median shows its n.
Medians, not means
We publish the median and the 25th and 75th percentiles. One $100 listing does not move a median the way it moves an average.
What this report does not cover
- It skews small and private. The sample is small-bay, private-owner and small-brokerage space, mostly under roughly 5,000 sq ft (the median is 1,400 sq ft). It does not represent downtown Class A office towers or institutional industrial buildings. Brokerage market reports are the right source for those.
- It skews to Vancouver. 716 of the 1,216 listings (59%) are in Vancouver, so the Metro-wide medians lean toward Vancouver pricing. Each listing is assigned to the city named in it, or to the nearest city centre by map location when none is named, so a few listings near a boundary can land in the neighbouring city.
- City medians reflect the mix. A city with mostly small office suites will show a higher all-types median than one with mostly warehouse bays. Compare within one asset type.
- Net and gross are mixed. Listings do not always say which they are quoting. Small furnished office suites are often gross, which is one reason the top of the office range is high.
- Time on market is not reported yet. We will add days listed once there is enough history for it to mean something.
How to cite this report
Free to quote with attribution and a link to this page
Source: David Siccia Properties, Metro Vancouver commercial asking rates, September 2026
https://davidsicciaproperties.ca/market/metro-vancouver-commercial-lease-rates · data to September 17, 2026
What should my space lease for?
Start from the median for your city and asset type, then adjust for size, condition, frontage, parking and loading, and whether you are quoting net or gross. The estimator does the first step for you from the same data as this report.
$28
Median asking rate per sq ft per year
Questions owners and tenants ask about lease rates
Want a rate for your actual space?
Send the address, the size and a few photos. We tell you where it should be priced against what is on the market this month, and what it would take to get it leased.
David Siccia Properties handles leasing and management. Property sales are executed by Lawrence Siccia, REALTOR®, Engel & Völkers Vancouver.
Related
Tools
- What should my space lease for?Live asking rates by city and asset type
- Vacancy cost calculatorWhat an empty unit costs per month
- Net effective rent calculatorFree rent, TI, escalations, NNN
- Lease expiry plannerA dated plan from your lease end date
- Commercial listing auditWhy a listing gets no inquiries
Guides
Services
By asset type
General information, not an appraisal
This report summarises asking rents from public listings as collected to September 17, 2026. It is not an appraisal, an opinion of value or advice about any specific property, and asking rates are not achieved rents. David Siccia Properties is a property management and leasing firm. Confirm lease terms with a lawyer and tax treatment with an accountant before you sign.