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August Rental Statistics

The August rental market across Greater Victoria and surrounding communities continues to show strong demand, with several regions experiencing notable growth in family-sized units. Limited vacancy and steady demand are keeping pressure on prices, particularly for studios and larger homes.

Average Rent by Region – August 2025

Here’s a breakdown of average rental prices this month across key areas:

Market Insights

• Victoria remains highly competitive with strong demand across both smaller units and family-sized rentals.
• Saanich continues to show stability with predictable growth patterns.
• Esquimalt/Vic West saw steady gains, particularly in family rentals.
• Langford/Colwood/View Royal stand out as one of the strongest performing regions thanks to new developments and competitive incentives.
• Sooke remains supply-constrained, particularly for smaller units, pushing rents upward.
• Duncan continues to provide steady, low-risk stability.

Month-over-Month Variance

• Victoria: Stable to rising rents across all unit types.
• Saanich: Slight decreases compared to July.
• Esquimalt/Vic West: Steady increases, especially for smaller to mid-sized units.
• Langford/Colwood/View Royal: Family-sized units continue to grow in demand and price.
• Sooke: Rising rents due to limited supply.
• Duncan: Mild fluctuations but generally stable.

Year-over-Year Variance

• Victoria & Langford/Colwood/View Royal remain leaders in year-over-year rent growth, especially for family units.
• Saanich continues to trend upward at a steady pace.
• Esquimalt/Vic West reflects moderate yearly growth.
• Sooke is seeing increasing pressure from limited supply.
• Duncan remains one of the most stable markets, with minimal yearly changes.

Strategic Recommendations

• For Property Managers:
  Targeted incentives in Langford/Colwood/View Royal and Esquimalt/Vic West will help maintain competitiveness.
• For Owners:
  Focus holdings in Victoria and Langford where demand is consistent. Use Sooke’s rising rents to justify increases where appropriate.
• For Investors:
  Victoria and Langford remain high-priority investment areas. Esquimalt/Vic West offer medium-risk opportunities, while Duncan provides a low-volatility alternative.

As August 2025 comes to a close, it’s clear that Greater Victoria’s rental market remains one of the most competitive in British Columbia. From Victoria’s consistently high demand to Langford’s growth fueled by new developments, renters and investors alike are navigating a landscape shaped by low vacancy and steady rent increases. Whether you’re looking to rent, manage, or invest, staying informed on these market shifts is key to making confident decisions.

Looking ahead to fall, we’ll continue tracking regional trends to help property owners, managers, and renters understand where opportunities — and challenges — are emerging across the Island.