Average Rent in Victoria, BC
One of BC's most expensive rental markets outside Metro Vancouver.
Last updated: October 2026
Quick answer
Victoria's average asking rent for apartments and condos was $2,243/month in August 2026, down about 3.4% year-over-year, according to the Rentals.ca and Urbanation National Rent Report (September 2026 edition). Victoria remains one of British Columbia's most expensive rental markets, behind only Metro Vancouver. Like the rest of British Columbia, existing Victoria tenancies are protected by the province's annual rent-increase cap (2.3% for 2026, 2.2% for 2027).
Why Victoria rents run high
Victoria sits on the southern tip of Vancouver Island with limited land available for new purpose-built rental construction, a large provincial-government workforce, a significant retiree population drawn by BC's mildest winter climate, and two nearby post-secondary institutions (University of Victoria and Camosun College) that add steady rental demand. These factors combine to keep Victoria's rents well above the Canadian national average asking rent of $2,035/month (August 2026), even though Victoria remains less expensive than Metro Vancouver.
Frequently Asked Questions
What is the average rent in Victoria, BC?
About $2,243/month for apartments and condos as of August 2026 (Rentals.ca asking rents). Victoria is one of British Columbia's more expensive rental markets, behind Metro Vancouver.
Is Victoria BC expensive to rent in?
Yes. Victoria is one of British Columbia's more expensive rental markets, driven by limited new-construction land on southern Vancouver Island, strong government and post-secondary demand, and BC's broader housing cost pressures. It is generally less expensive than Vancouver, where apartment and condo asking rents averaged $2,704/month for the same period.
Does Victoria have the same rent-increase cap as Vancouver?
Yes. Victoria and Vancouver are both governed by British Columbia's Residential Tenancy Act, including the same province-wide annual rent-increase cap (2.3% for 2026, 2.2% for 2027).
Sources
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