Burnaby Housing Market Report — March 2026
Burnaby is Metro Vancouver’s second-largest city with a population of approximately 249,000, geographically at the centre of the Lower Mainland between Vancouver to the west and Coquitlam to the east. Burnaby is home to Simon Fraser University (SFU) on Burnaby Mountain, BCIT, and the British Columbia Institute of Technology, and hosts major employers including Telus, Electronic Arts, Ballard Power Systems, and a large concentration of tech and gaming industry companies. The city is served by two SkyTrain lines (Expo and Millennium), making it one of the most transit-accessible cities in Metro Vancouver.
March 2026 data from Greater Vancouver REALTORS® (GVR) shows Metro Vancouver’s composite benchmark edging up 0.4% month-over-month, with Burnaby’s benchmark price estimated near $981,000.
Key Highlights — March 2026 (GVR):
- MLS® HPI Benchmark price: ~$981,000 (~-9.2% year-over-year)
- Metro Vancouver composite benchmark: $1,104,300 (-6.8% YoY, +0.4% MoM)
- Market: buyer’s market conditions (Metro Vancouver STAR: 14.2%)
- Population: 249,125 (2021 Census)
- SkyTrain: Expo Line (Metrotown, Patterson, Royal Oak, Edmonds) + Millennium Line (Brentwood, Holdom, Sperling, Lake City, Production Way)
- SFU enrolment: ~35,000 students, supporting rental demand
Burnaby Home Prices — March 2026
| Property Type | Approx. Benchmark / Range |
|---|---|
| All Residential Benchmark | ~$981,000 |
| Detached | $1,700,000–$2,100,000 |
| Townhouse (attached) | $1,000,000–$1,200,000 |
| Condo Apartment | $680,000–$820,000 |
Burnaby sub-area benchmark data is reported within the GVR monthly statistics package. The overall benchmark of ~$981,000 reflects a composite of all property types weighted by sales volume, estimated from the Metro-wide +0.4% MoM trend. Property-type ranges above are estimates based on GVR Burnaby East/West sub-district data.
Market Metrics — March 2026
| Metric | Value |
|---|---|
| Burnaby Benchmark Price | ~$981,000 |
| Benchmark YoY Change | ~-9.2% |
| Metro Vancouver STAR | 14.2% |
| Metro Vancouver Sales | 2,032 (-2.8% YoY) |
| Metro Vancouver Active Listings | 14,774 (+1.6% YoY) |
| Metro Vancouver New Listings | 5,792 (-10.3% YoY) |
| Data Source | Greater Vancouver REALTORS® (GVR) |
Income Required to Buy in Burnaby
Assumptions: 20% down payment, 3.99% contract rate (5.99% qualifying rate), 25-year amortization, GDS ratio of 32%, property tax $354/month, heating $150/month.
| Home Type | Price | Mortgage (80%) | Income Required |
|---|---|---|---|
| Benchmark (all types) | $981,000 | $784,800 | $208,300 |
| Condo Apartment | $750,000 | $600,000 | $164,400 |
| Townhouse | $1,100,000 | $880,000 | $233,400 |
| Detached | $1,800,000 | $1,440,000 | $375,600 |
| SFU area condo | $650,000 | $520,000 | $144,600 |
Key Trends — Burnaby March 2026
Benchmark Correction Moderating: Burnaby’s benchmark price of ~$981,000 is slightly above February’s $977,433, tracking the Metro-wide +0.4% month-over-month gain. The year-over-year decline of ~9.2% remains one of the steeper corrections in Metro Vancouver, reflecting the prior surge in Brentwood and Metrotown condo towers during 2020–2022. However, the MoM stabilization suggests the correction may be maturing.
STAR Improving to 14.2%: The Metro Vancouver sales-to-active listings ratio improved from 12.2% in February to 14.2% in March, moving deeper into balanced territory. This reflects declining new listings (-10.3% YoY) supporting prices despite continued weak sales (2,032, -2.8% YoY).
SkyTrain Density Premium: Burnaby’s two SkyTrain corridors — the Expo Line through Metrotown/New Westminster and the Millennium Line through Brentwood — support one of the highest-density condo development ecosystems in BC. The Brentwood neighbourhood, centred on The Amazing Brentwood (a massive mixed-use retail and tower complex), has transformed from a suburban mall into one of Metro Vancouver’s most urban districts. Approximately 8–10 major condo towers have been completed or are under construction within the Brentwood area alone.
Buyer’s Market in Condos: The condo apartment market is most firmly in buyer’s conditions, with significant new supply from Brentwood and Metrotown completions landing into a softer demand environment. Assignment resales at below-contract prices have occurred, creating opportunities for buyers with longer time horizons.
SFU and BCIT Rental Demand: The SFU Burnaby Mountain campus (~35,000 students) and BCIT (~50,000 students enrolled in part-time and full-time programs) create sustained rental demand across the city, particularly in Burnaby Heights, Willingdon, and areas near Brentwood.
Corporate Employment Base: Burnaby houses the Canadian headquarters of Telus at Metrotown, Electronic Arts at Burnaby Lake, Ballard Power Systems in north Burnaby, and dozens of games/tech companies. This high-income employer concentration supports premium condo and detached home demand.
Notable Neighbourhoods in Burnaby
Metrotown: Burnaby’s premier commercial centre. Home to Metropolis at Metrotown (one of BC’s largest malls), multiple SkyTrain stations, and dozens of high-rise condo towers. Urban lifestyle at Metro Vancouver prices. Condos $650k–$900k; detached very limited.
Brentwood (Centriville): Rapidly transforming neighbourhood on the Millennium Line. The Amazing Brentwood development has added thousands of new condo units. Urban high-rise lifestyle with excellent transit. Condos $680k–$850k; some townhomes $900k–$1.1M.
Burnaby Heights / Willingdon Heights: Burnaby’s most characterful neighbourhood along Hastings Street. Boutique restaurants, independent shops, heritage character homes. Mix of older detached (some strata-converted) and newer condos. Detached $1.5M–$2.0M; condos $650k–$800k.
South Slope / Garden Village: Hillside neighbourhood south of Metrotown with lake views. Established family-oriented detached housing. Detached $1.6M–$2.2M+.
Burnaby Lake / Government Road: Established residential areas around Burnaby Lake Regional Park. Quieter, larger lots, family-oriented. Detached $1.6M–$2.1M.
SFU Burnaby Mountain: Limited residential supply atop Burnaby Mountain in UniverCity (SFU community). Condos and townhomes with mountain and city views, a car-free lifestyle, and direct SFU access. Condos $700k–$950k; townhomes $950k–$1.3M.
Edmonds: Affordable Burnaby area near the Edmonds SkyTrain station. Mix of older detached and some new development. Oldest established residential areas; detached $1.3M–$1.7M.
BC Property Transfer Tax — Burnaby
BC PTT on a ~$981,000 home:
| Portion | Rate | Tax |
|---|---|---|
| First $200,000 | 1.0% | $2,000 |
| $200,001–$981,000 | 2.0% | $15,620 |
| Total | ≈ $17,620 |
First-time buyers may qualify for the BC First Time Home Buyers’ Exemption (full exemption on homes up to $500,000; partial exemption up to $525,000). At Burnaby’s price levels, the first-time exemption will not apply to most purchases.
Additional School Tax: In BC, properties valued over $3,000,000 are subject to an additional school tax (0.2% on value between $3M–$4M; 0.4% above $4M). This applies to some Burnaby detached homes.
Related Calculators & Tools
- Mortgage Affordability Calculator
- Land Transfer Tax Calculator
- CMHC Mortgage Insurance Calculator
- Vancouver Housing Market
- Coquitlam Housing Market
- British Columbia Housing Market — provincial overview
- Canada Housing Market — national overview
Data Sources
- Greater Vancouver REALTORS® (GVR) — March 2026 Statistics Package
- Canadian Real Estate Association (CREA) — National MLS® Statistics
- Data period: March 1–31, 2026