September Rental Statistics
September Rental Statistics
As we move through early autumn, the September 2026 rental market across Vancouver Island continues to reflect a landscape defined by price stability, increased unit availability, and active competition among properties.
Our latest market analysis reviewed 205 verified rental listings collected across seven Vancouver Island market areas, checked against key published industry benchmarks including Rentals.ca, Zumper, Zillow, and CMHC figures. Listings were individually reviewed and screened to ensure accuracy, with high-end outliers and duplicate listings set aside to present a clear, reliable picture of mainstream market conditions.
It is important to note that these figures represent advertised asking rents, rather than achieved or contracted rents, and should be viewed as market indicators rather than formal rental appraisals. Larger homes and multi-bedroom properties are also naturally more varied because many are rented through private or off-market channels or carry unique property attributes.
Location-Wise Market Summary – September 2026
| Location | Studio | 1-Bedroom | 2-Bedroom | 3-Bedroom | Houses |
| Victoria | $1,625–$1,675 | $1,750–$2,125 | $2,350–$2,650 | $2,825–$3,125 | Few listings |
| Saanich | $1,625–$1,775 | $1,900–$2,125 | $2,325–$2,550 | $3,225–$3,600 | $3,750–$4,850 |
| Esquimalt / Vic West | $1,775–$1,800 | $2,000–$2,175 | $2,400–$2,800 | $3,200–$3,450 | Few listings |
| Langford / Colwood / View Royal | Few listings | $1,975–$2,100 | $2,400–$2,650 | $3,450–$3,600 | $3,850–$4,275 |
| Sooke | Few listings | $1,450–$1,675 | $2,125–$2,550 | $3,000–$3,200 | $2,600–$3,400 |
| Duncan / North Cowichan | Few listings | $1,500–$1,700 | $1,950–$2,075 | $2,425–$2,950 | Few listings |
| Nanaimo | $1,450–$1,625 | $1,750–$1,950 | $2,075–$2,425 | $2,350–$2,650 | $3,125–$3,325 |
*Advertised monthly rent ranges for September 2026. “House” indicates a detached home rented as a whole, while suites, townhouses, and duplexes are grouped by bedroom count. Where very few homes were listed, ranges are omitted to ensure fair representation.
Victoria
Victoria’s rental market demonstrated strong stability throughout September. Typical 1-bedroom properties advertised at an average asking rent of $1,895, while 2-bedroom units sat at $2,458.
Studio units averaged $1,647, holding flat compared to August, while 3-bedroom properties averaged $2,850. Detached home listings in Victoria proper remained limited, holding an average asking rent around $3,250.
Overall, Victoria’s core apartment market remains well-supported, with 1- and 2-bedroom segments providing dependable pricing benchmarks for property owners.
Saanich
Saanich continues to show a balanced and steady picture, particularly across its core apartment categories.
One-bedroom units recorded a typical asking rent of $1,949, identical to August figures. Two-bedroom units averaged $2,394, also remaining flat month-over-month. Studio properties averaged $1,710, while 3-bedroom units averaged $3,300. Detached family homes sat in a broad range averaging $4,695, reflecting the higher variance in home size and quality across the municipality.
For Saanich owners, realistic competitive pricing remains key as renters weigh options across adjacent submarkets.
Esquimalt & Vic West
Esquimalt and Vic West maintained their position as one of the premium rental markets in Greater Victoria.
Driven by newer waterfront and close-to-downtown concrete developments, typical 1-bedroom asking rents averaged $2,149, while 2-bedroom units averaged $2,658. Studios recorded a typical asking rent of $1,787, and 3-bedroom rentals averaged $3,225. Detached home listings were virtually non-existent in the public dataset this month.
The influx of high-quality, modern purpose-built inventory continues to support stronger asking figures in this corridor.
Langford, Colwood & View Royal (Westshore)
The Westshore market continues to perform on par with urban core pricing while experiencing high levels of new building completion.
One-bedroom units in the Westshore averaged $2,000, while 2-bedroom units averaged $2,524. Three-bedroom rentals averaged $3,574, and detached homes maintained a strong average asking rate of $4,088.
A defining factor in the Westshore this month was tenant incentives. Approximately 59% of active listings featured a move-in deal (such as one month free), meaning effective rents paid by tenants in new developments are lower than headline asking figures.
Sooke
Sooke continues to represent a smaller, highly localized rental environment.
One-bedroom properties averaged $1,575, while 2-bedroom units averaged $2,400. Three-bedroom rentals averaged $3,100. Detached homes provided a reliable sample with an average asking rent of $2,800.
Because active public listings in Sooke are fewer in number, month-to-month averages can shift based on specific property availability, making individual comparables important for pricing.
Duncan & North Cowichan
Duncan and North Cowichan remain among the most accessible rental markets in our monthly analysis.
One-bedroom units averaged $1,612, while 2-bedroom units held steady with an average asking rent of $2,020. Three-bedroom properties averaged $2,650. Detached house listings were limited, with typical listings holding around $3,348.
The 1- and 2-bedroom segments in Duncan continue to offer stable benchmark data for regional owners.
Nanaimo
Nanaimo presents a well-supplied and steady apartment market heading into the autumn season.
One-bedroom properties averaged $1,857, while 2-bedroom rentals held at $2,250. Studio units averaged $1,575, and 3-bedroom rentals sat at $2,525. Detached homes averaged $3,150.
The steady volume of available inventory in Nanaimo has kept asking rates balanced across all major unit types.
What Does This Mean for Property Owners?
The September analysis confirms that the Vancouver Island rental market is operating in a period of rate stabilization and tenant choice.
Price Right from Day One: Vacancy is significantly more expensive than an adjusted asking rent. A single month of vacancy on a $2,400 unit costs $2,400—the exact equivalent of reducing rent by $200 per month for an entire year.
Understand the Impact of Incentives: Across all markets, 37% of listings offered move-in incentives in September—led by Westshore (59%) and Victoria (48%). Because BC limits annual rent increases for existing tenancies, offering a one-time move-in incentive rather than permanently lowering base rent is a smart strategy to attract quality tenants while protecting long-term property values.
Focus on Retention & Presentation: Holding onto a reliable, high-quality tenant is often far more advantageous than managing turnover costs and potential vacant days. For new listings, strong visual presentation, pet-friendly terms, or included parking can provide a key advantage over competing modern buildings.
Looking Ahead
As autumn progresses, seasonal demand typically tempers across Vancouver Island. Properties entering the market over the coming months require accurate pricing and strategic positioning to ensure swift leasing.
At Pemberton Holmes Property Management, our local presence and detailed data tracking across Vancouver Island allow us to help property owners navigate changing market conditions with confidence. Whether you own a single condominium, a detached home, or a multi-unit portfolio, our team is here to support your property management needs.
About the September 2026 Data
The September market review analyzed 205 verified listings across seven regional markets. Data was collected from major platforms including Rentals.ca, Zumper, Zillow, PadMapper, Craigslist, Kijiji, and direct management sources. All figures represent advertised asking rents intended for informational and decision-support purposes.