The incident happened just before midnight at the Samesun Backpackers hostel at 1018 Granville St.
B.C. Ambulance District Supervisor Ross Hallaway said the man was likely sitting on a windowsill and slipped.
Hallaway said the man landed on a second floor ledge, where paramedics, along with crews from the Vancouver Fire Department, rescued him through a window.
The man was wrapped in silver foil as he was carried out of the building on a stretcher, and then placed into an ambulance.
"He had a space blanket on — just because we cut his clothes off — to keep him warm, for shock," said Hallaway.
Hallaway said the man did not appear to be intoxicated.