Blog

October Rental Statistics

As fall settles in, Victoria’s rental market continues to show strong fundamentals with steady demand across all submarkets. October brought moderate movement in several key areas, with notable resilience in larger family units and consistent performance across most regions.

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Victoria

Rental rates in Victoria saw steady gains this month, particularly in one- and two-bedroom apartments.

• Studios: $1,683
• 1-Bedrooms: $2,088
• 2-Bedrooms: $2,553
• 3-Bedrooms: $3,381
• Houses: $3,200

Month-over-month growth was driven by apartment categories, while family-sized units maintained solid occupancy levels. Year-over-year, the city remains balanced, reflecting sustainable demand and limited new supply in the core area.

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Saanich

Saanich continues to perform consistently, with stable rental rates and strong occupancy.

• Studios: $1,671
• 1-Bedrooms: $2,115
• 2-Bedrooms: $2,429
• 3-Bedrooms: $3,344
• Houses: $3,300

Both monthly and annual comparisons indicate a healthy and steady market—particularly attractive to families seeking larger units in well-established neighbourhoods.

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Esquimalt / Vic West

The Esquimalt and Vic West corridor saw slight easing across most unit types as vacancy remained stable.

• Studios: $1,561
• 1-Bedrooms: $1,889
• 2-Bedrooms: $2,330
• 3-Bedrooms: $2,962
• Houses: $3,175

While compact units softened slightly, the area continues to attract tenants seeking proximity to downtown with waterfront convenience and lifestyle appeal.

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Langford / Colwood / View Royal

The Westshore region recorded a minor uptick this month, particularly in new rental buildings where absorption is improving.

• Studios: $1,705
• 1-Bedrooms: $2,045
• 2-Bedrooms: $2,573
• 3-Bedrooms: $3,200
• Houses: $3,300

On a yearly basis, this region continues to post steady gains as infrastructure growth and new development projects draw renters further west.

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Sooke

Sooke’s apartment sector remained stable in October, though detached home rents eased slightly.

• 1-Bedrooms: $1,747
• 2-Bedrooms: $2,175
• Houses: $2,675

This submarket continues to offer affordability and space, appealing to tenants looking for value within commuting distance of Greater Victoria.

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Duncan

The Cowichan Valley market experienced a noticeable lift, particularly in smaller unit types.

• Studios: $1,425
• 1-Bedrooms: $1,894
• 2-Bedrooms: $2,071

Rents remain generally stable year-over-year, making Duncan a consistent and cost-effective option for long-term tenants.

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Market Insights

Overall, October’s data shows a steady and balanced rental landscape across Greater Victoria and surrounding regions.

• Victoria and Saanich continue to lead as resilient, high-demand markets.
• Westshore communities are benefitting from ongoing growth and new supply.
• Esquimalt/Vic West maintains equilibrium, ideal for lifestyle-oriented renters.
• Sooke and Duncan remain strong value plays with stable yields for investors.

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As we move into the winter season, landlords and property managers should continue to monitor new supply in Westshore and maintain strong marketing for larger units in core areas. With stable economic indicators and tight vacancy rates, Greater Victoria’s rental market is well positioned for continued steady performance into 2026.