July Rental Statistics

 July 2025 Greater Victoria Rental Market Snapshot

By Pemberton Holmes Property Management

As summer heats up, so does the rental market. July brought steady pricing across most unit types, with subtle increases and continued strong demand for well-located, well-appointed homes. Here’s a refined look at how things unfolded.

 Rental Data Overview – July 2025

Unit Type	Avg. Sq. Ft.	Rent Range	Avg. Rent	$/Sq. Ft. Range
Studio	~450	$1,500 – $1,675	$1,575	$3.33 – $3.72
1 Bedroom	600–725	$1,750 – $2,195	$1,975	$2.92 – $3.32
2 Bedroom	800–1,100	$2,295 – $2,995	$2,645	$2.55 – $3.07
3 Bedroom	1,300–1,500	$2,950 – $3,595	$3,295	$2.27 – $2.76

 Data sourced from active listings across Victoria, James Bay, Saanich, Langford, Esquimalt & surrounding areas.

 June → July Rental Variance

Unit Type	Month-Over-Month Change
Studio / Bachelor	Stable – Avg. remains ~$1,575
1 Bedroom	Slight increase (~2–3%)
2 Bedroom	Modest increase
3 Bedroom	Gradual upward trend

 July reflects signs of market rebalancing after June’s mixed movement. Larger units in particular are seeing renewed demand and slight pricing gains.

 Neighbourhood Highlights

•  Downtown Victoria
  Popular as ever. Bachelors and 1-bedrooms between $1,575–$2,195. Tenants love in-suite laundry, modern finishes, and pet-friendly policies.
•  Langford & Colwood
  Family-friendly and commuter-convenient. 2–3 bedrooms going for $2,495–$3,595. Many units include parking, storage, and newer builds.
•  James Bay & Fairfield
  Coastal charm meets urban access. 2-bedroom units average $2,500–$2,895, with walkability and lifestyle as key attractions.

What Renters Want

 Pet-friendly policies
 In-suite laundry
 Utilities included (esp. water & heat)
 Parking availability — adds $100–$200 in perceived value

Tenants are becoming more selective. The best-equipped rentals get snatched up fastest.

 For Owners & Investors

As we edge toward fall, now is the time to:

 Schedule seasonal maintenance (e.g. roof, gutters, HVAC)
 Ensure units are clean, well-presented, and staged
 Review rental rates vs. market to stay competitive
 Focus on value-added amenities (like parking, storage, or pet-friendliness)

 Well-priced units with modern features continue to see the shortest vacancy times.

 Need help pricing or managing your rental?

Let the experts at Pemberton Holmes Property Management guide you.
We help you attract the right tenants, reduce vacancy, and maximize rental income.