The Top 8 Places to Own Rental Property in Vancouver & Lower Mainland, BC, Canada

Carolyn Pogue Personal Real Estate Corporation: Your Guide to Lower Mainland Real Estate Investments

Thinking about venturing into the world of real estate investment in British Columbia’s Greater Vancouver Area?

You could be in for a rewarding journey.

With its dynamic economy, diverse culture, and stunning natural beauty, this region is highly sought-after, creating abundant opportunities for investors seeking to tap into Canada’s rental property market.

This blog shows you the top 8 cities in the Lower Mainland to own a rental property in 2023-2024, with Coquitlam, BC taking the top spot.

1. Coquitlam, BC: Where Urban Comfort Meets Natural Beauty

Nestled between lush greenery and urban convenience, Coquitlam stands as a prime destination for real estate investors in the Greater Vancouver Area of BC, Canada.

Boasting a mix of serene suburban neighborhoods and bustling cityscapes, Coquitlam offers a balanced lifestyle for residents.

With rapid transit links to Vancouver and an array of recreational amenities, including parks, trails, and cultural attractions, investing in Coquitlam promises strong rental demand and a high quality of life.

In September 2023, the average 1-bedroom apartment in Coquitlam, BC was renting for $2,450/mo, an 18% increase from September 2022 (Zumper.com).

Between 2021 and 2023, the population of Coquitlam is estimated to have grown by 7% from 148,625 to 158,846.

Green Oasis: Coquitlam's beautiful parks & green spaces — including Mundy Park, Minnekhada Regional Park, Pinecone Burke Provincial Park, and Lafarge Lake — offer Coquitlam residents a place to walk, hike, picnic, or go birdwatching.
Transportation Hub: With proximity to the Evergreen Line SkyTrain, West Coast Express, and major highways, Coquitlam ensures renters & homeowners have easy access to Vancouver, making daily commutes a breeze.
Education Excellence: Families are drawn to Coquitlam for its exceptional school options, including high scoring elementary schools and the highly regarded Dr. Charles Best Secondary School. A brand new 1,000 seat high school in Burke Mountain (SD43) is expected to open in fall 2026.
Urban Amenities: Renters enjoy the convenience of Coquitlam Centre, a major shopping mall with over 200 retail outlets, a diverse restaurant scene with casual and fine dining options, and recreation facilities like the Coquitlam Sports Centre & Poirier Sport Complex.
Cultural Vibrancy: Coquitlam's cultural scene, highlighted by events like Kaleidoscope Arts Festival and locations like Evergreen Cultural Centre & Place des Arts, fosters a sense of community and engagement for renters.

Browse our real estate listings in Coquitlam, BC.

2. Port Moody, BC: A Scenic Gem for Rental Investments

Located on the eastern shores of the Burrard Inlet, Port Moody is a hidden gem for real estate investors seeking rental opportunities in the Greater Vancouver Area. With its breathtaking waterfront views, outdoor recreation, and charming community atmosphere, Port Moody offers a unique blend of nature and urban living. Homes for sale in Port Moody include apartments/condos, townhomes, and single family homes. The average price of a home in Port Moody in October 2023 is ~$1.1 million.

In September 2023, the average rent for a 1-bedroom apartment in Port Moody, BC was $2,400; a 17% year-over-year increase (Zumper.com).

Scenic Beauty: The picturesque surroundings of Port Moody, including Rocky Point Park and the Shoreline Trail, provide renters with endless opportunities for outdoor activities, making it a desirable location for those seeking an active lifestyle.
Tranquil Living: With scenic waterfront views, abundant green spaces, and a low crime rate, Port Moody offers a peaceful residential environment, attracting families, young professionals, and individuals looking for a serene escape from the city's hustle and bustle. Port Moody boasts a network of community gardens where residents can nurture their green thumbs and cultivate a sense of camaraderie.
Connected Living: Convenient access to the West Coast Express commuter rail service, the Evergreen Line SkyTrain extension, and an extensive network of cycling paths and bike lanes ensures that renters can easily commute to Vancouver and other parts of the Lower Mainland.
Craft Beer Hub: Port Moody's Brewers Row has gained recognition as a craft beer destination, drawing beer enthusiasts and boosting the local economy, adding to the area's appeal for residents and renters alike. Some of our local favorites are Yellow Dog, Parkside, and Brave Brewing.
Community Spirit: Port Moody's strong sense of community is reflected in its local events, farmers' markets, and arts festivals, fostering a welcoming atmosphere for residents and renters to enjoy. The Port Moody Arts Centre hosts a wide range of exhibitions, workshops, and events where residents can engage with the arts, connect with fellow art enthusiasts, and appreciate local talent.
Annual Events: Port Moody’s Summer Concert Series brings residents together for live performances by local musicians at Rocky Point Park. On July 1st, residents celebrate Canada Day with a parade, fireworks, and cultural displays.

3. Burnaby, BC: A Hub of Economic Growth and Innovation

Adjacent to Vancouver, Burnaby emerges as a hotspot for real estate investment. Home to major institutions like BCIT, Simon Fraser University and a thriving technology sector, Burnaby attracts a diverse pool of renters — from students to professionals. The city's vibrant neighborhoods, shopping centers, and easy access to transportation contribute to its allure as an investment haven.

The average 1-bedroom apartment rent in Burnaby, BC in September 2023 was $2,600 — a strong 10% increase compared to the previous year (Zumper.com).

Innovation Mecca: Simon Fraser University's Innovation Boulevard is a renowned research hub that brings together industry leaders and startups to drive groundbreaking advancements in healthcare technology. Local tech companies like Telus, Clio, and Electronic Arts make Burnaby a magnet for professionals.
Central Location: Renters benefit from Burnaby's strategic position between Vancouver and the Fraser Valley, allowing for easy exploration of surrounding areas and quick access to amenities. Major routes like the Trans-Canada Highway (Highway 1), Lougheed Highway (Highway 7), and SkyTrain lines connect Burnaby to neighboring cities and beyond.
Natural Retreats: Burnaby Mountain Conservation Area and Burnaby Lake Park offer renters a chance to connect with nature through hiking, bird-watching, and enjoying stunning panoramic views. Nearby Deer Lake Park offers a serene lakefront setting for picnics, lakeside walks, and routes to the Burnaby Art Gallery.
Shopping Paradise: Metropolis at Metrotown, one of Canada's largest malls, provides renters with a plethora of shopping, dining, and entertainment options, making Burnaby a retail haven.
Cultural Enrichment: The Burnaby Arts Council and Shadbolt Centre for the Arts bring cultural experiences, art exhibitions, and performances to renters, ensuring a well-rounded lifestyle.

4. Richmond, BC: Where Culture and Commerce Converge

Richmond's strategic location, proximity to Vancouver International Airport, and bustling multicultural atmosphere make it an enticing prospect for real estate investors. With a strong tourism industry, a range of dining experiences, captivating historical sites, and close proximity to Vancouver International Airport (YVR), Richmond offers a rich tapestry of attractions that draw renters seeking convenience and culture.

In Sept. 2023, the average 1-bedroom apartment in Richmond, BC rented for $2,595; a 24% increase compared to the previous year (Zumper.com).

Culinary Haven: Richmond's diverse culinary landscape, particularly in the renowned Alexandra Road Food Street, offers renters an unparalleled global dining experience without leaving the city. Additionally, the Richmond Night Market, with its vast array of international street food stalls and vibrant entertainment, further solidifies the city's reputation as a food lover's paradise.
Harborfront Living: Renters are drawn to picturesque Steveston Village with its historic charm, waterfront boardwalk, and fishing heritage, creating a unique and captivating atmosphere. Steveston's annual Salmon Festival, featuring a grand parade and cultural performances, adds to the village's allure and provides a delightful experience for residents.
Thriving Economy: Thriving Economy: Richmond's industrial and commercial sectors, along with its strategic proximity to Vancouver International Airport, create a robust economy, promoting job stability. The city's innovative business environment, exemplified by the Richmond Olympic Oval, serves as a hub for sports, wellness, and entrepreneurship.
Island Escapes: Richmond's proximity to the Gulf Islands and easy access to BC ferries in Tsawwassen beckons residents to explore tranquil BC island getaways, making it a prime location for adventure enthusiasts. Additionally, the nearby Garry Point Park, with its scenic views and serene ambiance, serves as a perfect starting point for island-hopping adventures.
Cultural Immersion: The Richmond World Festival and Richmond Night Market provide residents with immersive cultural experiences, celebrating diversity and fostering a sense of belonging. The Minoru Park and Richmond Cultural Centre complex, which hosts various arts and cultural events, further enriches the city's cultural tapestry and offers artistic inspiration to its residents.

5. Surrey, BC: Urban Living with a Touch of Tranquility

As one of British Columbia's fastest-growing cities, Surrey presents a wealth of opportunities for real estate investment. Its diverse neighborhoods, recreational facilities, and educational institutions create a magnet for families and professionals alike. With well-planned infrastructure and a community-focused vision, Surrey's rental market continues to flourish.

In Sept. 2023, the average 1-bedroom apartment in Surrey, BC rented for $2,595; representing a YoY increase of 18% (Zumper.com).

Diverse Lifestyle: Renters are drawn to Surrey's diverse neighborhoods, from the urban energy of City Centre to the suburban charm of Newton, allowing them to choose a lifestyle that suits their preferences. The vibrant Surrey Central area is home to a thriving arts scene, boasting galleries, theaters, and cultural events that cater to residents seeking a dynamic and engaging urban experience.
Educational Hub: Home to Simon Fraser University's Surrey campus and Kwantlen Polytechnic University, Surrey attracts students seeking higher education options in a dynamic environment. The presence of these reputable institutions not only fosters a culture of learning but also cultivates a vibrant intellectual community within the city.
Parks and Recreation: With over 400 parks, including Bear Creek Park and Green Timbers Urban Forest, Surrey offers renters endless opportunities for outdoor activities, relaxation, and family outings. Surrey's extensive network of cycling trails, such as the Green Timbers Urban Forest Trail and the Serpentine Fen Trail, provides avid cyclists with scenic routes to explore the city's natural beauty.
Cultural Mosaic: The Surrey Fusion Festival and Surrey International Film Festival celebrate the city's cultural diversity, providing renters with a melting pot of traditions, arts, and entertainment. The annual Diwali Festival, which illuminates the city with vibrant lights, traditional performances, and delectable cuisine, further enriches Surrey's cultural tapestry.
Rapid Growth: As one of Canada's fastest-growing cities, Surrey's transportation infrastructure is continually evolving to meet the growing demand. The Surrey-Langley SkyTrain expansion enhances transportation connectivity by extending the SkyTrain Expo Line to Langley Centre, providing accessibility enhanced convenience and connectivity for Surrey residents.

6. Langley, British Columbia: Embracing Nature and Community

Langley's blend of rural charm and modern amenities sets the stage for a promising real estate investment journey. With a range of housing options, from acreages to townhouses, Langley appeals to a wide spectrum of renters. The city's strong sense of community, equestrian culture, and easy access to outdoor activities contribute to its desirability as a rental property destination.

In Sept. 2023, the average rent for a 1-bedroom apartment in Langley, BC was $2,010; a 15% increase since Sept 2022 (Zumper.com).

Equestrian Charm: Langley's historic equestrian roots are evident in its local farms, riding trails, and the annual Langley Riders Society Rodeo, creating a unique atmosphere for renters to enjoy.
Outdoor Wonderland: Langley offers renters an array of outdoor activities, from hiking & bird watching in Campbell Valley Regional Park to exploring the tranquil vibes of Derby Reach Regional Park.
Community Spirit: Renters find a strong sense of community in Langley, exemplified by local events like the Langley Community Days and vibrant farmers' markets, fostering connections.
Wineries and Breweries: With a burgeoning wine and craft beer scene, Langley offers renters the chance to explore award winning producers, adding a touch of indulgence to their lives. Local wineries to notice include Chaberton Estate, Township 7, and Backyard Vineyards. Some of the areas best breweries and tasting rooms are Camp Beer, Five Roads, and Brookswood.
Heritage Richness: The Fort Langley National Historic Site, birthplace of British Columbia, provides residents with a historical perspective and a chance to immerse themselves in the region's past, with guided tours and interactive exhibits that bring history to life.

7. New Westminster, BC: History Meets Contemporary Living

Serenely located along the Fraser River, New Westminster exudes historic charm while embracing a contemporary lifestyle. The city's revitalized downtown, cultural attractions, and waterfront appeal make it a sought-after location for renters. Proximity to transit and a growing arts scene add to New Westminster's allure, making it an ideal choice for real estate investors.

In September 2023, the average 1-bedroom apartment in New Westminster, BC rented for $2,200; a 21% yearly increase (Zumper.com).

Heritage Charisma: Renters are captivated by New Westminster's historic charm, evident in its well-preserved architecture, the Quay's boardwalk, and annual events like the Hyack Festival, which celebrate the city's rich heritage.
Riverside Bliss: Positioned along the Fraser River, New Westminster offers breathtaking waterfront views, scenic walks, and access to recreational activities like kayaking and paddleboarding, allowing residents to fully embrace the river's natural beauty.
Arts and Culture: The city's vibrant arts scene, marked by the Anvil Centre and cultural festivals like the New West FilmFest, provides renters with a constant flow of creativity and inspiration, making it a hub for cultural enthusiasts.
Transit Advantage: A well-connected transit system, including the SkyTrain's Expo Line, ensures renters have seamless access to both Vancouver and surrounding areas, making commuting hassle-free and environmentally friendly.
Quaint Downtown: New Westminster's downtown district features boutique shops, diverse dining options, and a thriving nightlife, creating a lively urban experience for renters to savor while exploring the city's charming streets.

8. North Vancouver, BC: Nature's Playground with Urban Convenience

Last but not least, North Vancouver captivates with its stunning natural landscapes and vibrant urban vibe. Surrounded by mountains, forests, and water, this area offers an outdoor enthusiast's paradise. The seamless blend of recreational opportunities, trendy neighborhoods, and access to downtown Vancouver positions North Vancouver as a prime destination for renters seeking an active lifestyle.

The average rent for a 1-bedroom apartment in North Vancouver, BC in Sept. 2023 is $2,850; a 19% YoY increase (Zumper.com).

Nature's Playground: Surrounded by the North Shore mountains and lush forests, North Vancouver offers renters a plethora of outdoor activities, including hiking, skiing, and mountain biking at Grouse & Cypress Mountain, ensuring a dynamic and active lifestyle.
Stunning Views: Renters are treated to awe-inspiring views of the city, ocean, and mountains, creating a picturesque backdrop that adds a touch of magic to daily life, making every day a visual delight.
Lifestyle Variety: From the bustling Lonsdale Quay Market to the serene ambiance of Deep Cove, North Vancouver provides renters with diverse lifestyle options catering to their preferences, offering a range of experiences within easy reach.
Outdoor Events: The North Shore's lively calendar includes events like the Lonsdale Artisan Farmers' Market and the outdoor Capilano Suspension Bridge Lights display, enriching renters' lives with vibrant cultural and seasonal experiences.
Sense of Community: Local gatherings like the Shipyards Night Market and neighborhood festivals foster connections among renters, creating a warm and inclusive community vibe that enhances the sense of belonging.

Top 8 Places to Invest in Lower Mainland Real Estate in 2023-2024

Coquitlam, Port Moody, Burnaby, Richmond, Surrey, Langley, New Westminster, and North Vancouver offer real estate investors in the Lower Mainland some of the best opportunities in 2023 and beyond. Each of these municipalities holds its own unique charm and potential for lucrative investment returns.

Navigating the world of real estate investment requires a keen understanding of local markets and trends. Pogue Real Estate Group is your dedicated partner, equipped with the experience, knowledge and skills to guide you through the process.

Contact Carolyn Pogue today to unlock the door to your next investment opportunity in the Greater Vancouver Area.

Disclaimer: The information provided in this blog is for informational purposes only and should not be construed as investment advice. Please consult with a qualified financial advisor before making any investment decisions.

About Carolyn Pogue PREC* | Port Moody REALTOR® + Burke Mountain, Coquitlam Real Estate Agent:

As Team Lead of Pogue Real Estate Group in Port Moody, I pride myself on providing exceptional service, innovative marketing strategies and a relentless work ethic for all of our clients. My team and I proudly help families throughout Greater Vancouver, particularly within Port Moody, Burke Mountain, Coquitlam and Port Coquitlam.

At this stage of my career, I am fortunate that the majority of my clients come from referrals and repeat business. I work alongside my husband and business partner Brian, who is also a licensed REALTOR® and Chartered Professional Accountant. We take a family-first approach to real estate - being involved in our community and giving back is very important to us. We proudly support various organizations and charities which are close to our heart and this is part of what motivates us to continue to work hard every day.

Carolyn Pogue specializes in selling real estate in Port Moody, Burke Mountain and Coquitlam. Carolyn Pogue is rated one of the best Port Moody REALTORS®, one of the best Burke Mountain REALTORS® and one of the best Coquitlam REALTORS®*. Carolyn Pogue also specializes in selling Burke Mountain presale homes, Burke Mountain presale townhomes, Port Moody presale townhomes and Port Moody presale condos.

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*Source: Rate-My-Agent.com