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Cheap Apartments for Rent in Oak Bay, BC from $1,500 (37 Rentals)
Search the lowest-cost Apartments available for rent right now in Oak Bay.
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$1,800 - $4,275Studio to 3 Bedroom Apartments Available Now
University Heights
1520 McKenzie AveVictoria, BC V8N 3B7
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$1,950 - $3,2001 to 2 Bedroom Apartments Available Now
The Shelley
3949 Shelbourne StSaanich, BC V8P 4J2
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Rent Specials
$1,700 - $2,1001 to 2 Bedroom Apartments Available Now
Elmwood Terrace
1399 Stanley AveVictoria, BC V8S 3S5
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Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between
Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.
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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls
When searching for a roommate, follow this list of essential steps and set clear expectations to create a solid foundation for a harmonious living situation.
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Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting
Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.
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The Art of the Rental Viewing: What to look for during a property tour
Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.
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Showing Results 1-37, Page 1 of 1
Oak Bay, BC Local Guide
How much does it cost to rent an apartment in Oak Bay?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Oak Bay Studio Apartments | $1,914 | $1,550 | $2,175 |
| Oak Bay 1 Bedroom Apartments | $2,418 | $1,800 | $2,910 |
| Oak Bay 2 Bedroom Apartments | $3,515 | $2,100 | $3,800 |
| Oak Bay 3 Bedroom Apartments | $4,218 | $4,175 | $4,275 |
Browse Top Apartments in Oak Bay
See all Apartments in Oak BayExplore Oak Bay
Oak Bay, BC Local Guide
- Nearby Cities
Cheapest Available Oak Bay Apartments for Rent and Nearby
The cheapest available apartment rental in Oak Bay, BC is a Studio unit found at 1204 Yates Street Apartments priced from $1,550. Elmwood Terrace has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,700. Here is today’s list of the most affordable Oak Bay apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| 1204 Yates Street Apartments | 0 Beds, 1 Baths | Studio,1BA | $1,550 |
| Elmwood Terrace | 1 Bed 1 Bath | 1BR,1BA | $1,700 |
| University Heights | S1 | Studio,1BA | $1,800 |
| The Shelley | A1 - Studio | 1BR,1BA | $1,950 |
Best Value Apartments for Rent in Oak Bay, BC and Nearby
As of October 24, 2025 the best value apartment in the Oak Bay area is the $2.72 price per square foot 1 Bed 1 Bath Model at Elmwood Terrace in the starting from $1,700. The second greatest value Oak Bay apartment is the 0 Beds, 1 Baths Model at 1204 Yates Street Apartments starting at $1,550 with a $3.88 price per square foot . Here is today’s list of the best values for Oak Bay apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Elmwood Terrace | 1 Bed 1 Bath | 1BR,1BA | $2.72 |
| 1204 Yates Street Apartments | 0 Beds, 1 Baths | Studio ,1BA | $3.88 |
| The Shelley | A1 - Studio | 1BR,1BA | $4.97 |
| University Heights | S1.A | Studio ,1BA | $5.17 |
Apartment Common Area Rules: What Renters Need to Know
From the lounge to the laundry room, understand your rights and responsibilities in shared apartment spaces. Get tips on pet rules, noise, and security.
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Don't Settle: How to Negotiate Your Apartment Lease and Save Money
Discover the insider tips from an attorney and real estate agent on how to negotiate your next apartment lease. Find out what's on the table and what's not, so you can save money and get the best terms possible.
Read ArticleThe Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro
Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.
Read ArticleQuick Rent Budget Calculator
How much rent can you afford?
The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.
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Remember the 3 Rules of Real Estate:Location, Location, Location!
Explore Oak Bay, BC Rentals by Map
See the most popular apartments and homes in Oak Bay, BC
Frequently Asked Questions about Cheap Oak Bay Apartments
What is the Cheapest Studio apartment in Oak Bay?
Currently the most affordable Cheap Studio Apartment in Oak Bay is at 1204 Yates Street Apartments listed at $1,550.
How much is rent for a Cheap One Bedroom Oak Bay Apartment?
The lowest price for a Cheap One Bedroom Oak Bay Apartment is $1,700 at Elmwood Terrace.
What is the lowest price for a Cheap Two Bedroom Oak Bay Apartment for rent?
Today's best deal for a Cheap Two Bedroom Apartment in Oak Bay is starting from $2,800 at The Shelley.
What is the most affordable Oak Bay Three Bedroom Apartment?
The best deal on a cheap Oak Bay Three Bedroom Apartment rental is at University Heights and starts from $4,175.
Expert Rental Resources
Helpful Apartment Articles, How-To's and Tips
The rental experts at ApartmentHomeLiving.com provide you with top advice, tools, and tips for understanding the leasing process and finding the perfect rental. Here are a few helpful rental and leasing articles from our experts to guide you on your search.
Apartment Common Area Rules: What Renters Need to Know
Written by: Christine Leonard, Esq.
Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.
How to Negotiate Your Apartment Lease and Save Money
Written by: Christine Leonard, Esq.
Everything is a negotiation in real estate!
The Rental Move-In Inspection Checklist: A Guide for Renters
Written by: Trey Huguley
The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.
Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between
Written by: Christine Leonard, Esq.
For many people, obstacles can arise during the rental application process for a variety of issues.