The City of Burnaby continues to be a leader among municipalities in the creation of new rental housing according to the latest Rental Housing Summary report provided to City Council.
A total of 101 new units of rental housing were completed in Burnaby between January 1 and June 30, 2024. Of these, 84 are non-market units, which means they will be offered at below-market rates.
A total of 1,951 rental units were under construction during this same period. There are currently over 19,000 rental units across all stages of the development process in Burnaby, of which 17,215 are net new units. “Net new” means new units, minus units being replaced due to redevelopment.
In recent years, a total of 1,668 net new rental units have been completed.
Housing affordability is a region-wide crisis. Burnaby’s unique approach is generating results and helping to ensure that those who live here can afford to stay here.
Learn More: Rental Housing Summary (as of June 30, 2024)