According to a report by Liv.rent, the average rent in Richmond decreased in April compared to March, with a 0.69% drop for one-bedroom apartments and a significant 12.5% decrease for three-bedroom units, now averaging $2,401 and $3,545 respectively. Coquitlam and New Westminster also saw rent decreases of 3.72% and 1.79% respectively. Despite this, the overall average rent in Metro Vancouver rose by 1.68%. The report suggests that rental rates in the region may continue to rise gradually through the summer months. Alarmingly, the average Metro Vancouver renter currently spends 61.65% of their monthly income on rent, well above the recommended 30% threshold, highlighting the housing supply-demand mismatch in the area.