Cheap Apartments for Rent in Oak Bay, BC from C$1,500 (37 Rentals)

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The Clive
1 to 2 Bedroom Apartments

The Clive

1510 Clive DrOak Bay, BC V8R 1G7
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2013 Oak Bay Ave
1 Bedroom Apartments

2013 Oak Bay Ave

2013 Oak Bay AveOak Bay, BC V8R 1E5
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1204 Yates St
Studio to 2 Bedroom Apartments

1204 Yates St

1204 Yates StVictoria, BC V8V 4V1

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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Stadacona
Studio Apartments

Stadacona

1510-1564 Fort StVictoria, BC V8S 5J2
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Bellwood Park
1 to 3 Bedroom Apartments

Bellwood Park

1201 Fort StVictoria, BC V8V 3L1
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Belmont
1 to 3 Bedroom Apartments

Belmont

1035 Belmont AveVictoria, BC V8S 3T5
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Maddison
Studio Apartments

Maddison

1082-1084 Richmond AveVictoria, BC V8S 3Z5
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The Row
Studio to 2 Bedroom Apartments

The Row

1154 Johnson StVictoria, BC V8V 3N8
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Fifteen88
1 to 2 Bedroom Apartments

Fifteen88

1588 N Dairy RdVictoria, BC V8T 3V4
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Chartwell House
1 to 2 Bedroom Apartments

Chartwell House

1343 Harrison StVictoria, BC V8S 1Z9
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1234 Fort St
Studio Apartments

1234 Fort St

1234 Fort StVictoria, BC V8V 3L2
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The Affinity
1 to 3 Bedroom Apartments

The Affinity

4024 Shelbourne StSaanich, BC V8N 3E2

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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Central Manor
Studio Apartments

Central Manor

1230 Fort StVictoria, BC V8V 3L2
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1249 Fort St
Studio Apartments

1249 Fort St

1249 Fort StVictoria, BC V8V 3L3
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1050 Pemberton
1 to 2 Bedroom Apartments

1050 Pemberton

1050 Pemberton RdVictoria, BC V8S 3R6
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Wellington Manor
1 to 2 Bedroom Apartments

Wellington Manor

1670 Fort StVictoria, BC V8R 1H9
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1148 Oscar St
1 to 3 Bedroom Apartments

1148 Oscar St

1148 Oscar StVictoria, BC V8V 2X4
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1225 Fort St
Studio Apartments

1225 Fort St

1225 Fort StVictoria, BC V8V 4R2
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1165 Meares St
1 Bedroom Apartments

1165 Meares St

1165 Meares StVictoria, BC V8V 3J9
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The Stanley
Studio to 2 Bedroom Apartments

The Stanley

340 Linden AveVictoria, BC V8V 4E9
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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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1265 Grant St
1 Bedroom Apartments

1265 Grant St

1265 Grant StVictoria, BC V8T 1C1
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Terraces
Studio Apartments

Terraces

1635 Oak Bay AveVictoria, BC V8R 1B3
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Tuscany Village
Studio Apartments

Tuscany Village

1620-1638 Mckenzie AveSaanich, BC V8N 1A5
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Willows Beach
1 to 3 Bedroom Apartments

Willows Beach

2707 Estevan AveVictoria, BC V8R 2T5
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The Rockland
1 Bedroom Apartments

The Rockland

1033 Belmont AveVictoria, BC V8S 3T5
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Forest Hillls
Studio Apartments

Forest Hillls

1516-1518 Pandora AveVictoria, BC V8R 1A8
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2580 Penrhyn St
Studio Apartments

2580 Penrhyn St

2580 Penrhyn StSaanich, BC V8N 1G3

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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1593 Begbie St
Studio Apartments

1593 Begbie St

1593 Begbie StVictoria, BC V8R 1K9

Oak Bay, BC Local Guide

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 C$1,550. Elmwood Terrace has the second lowest priced unit, which is a 1 Bed apartment currently listed from C$1,700. Here is today’s list of the most affordable Oak Bay apartments for rent:

Apartment ListingModel NameBed/BathPriced From
1204 Yates Street Apartments0 Beds, 1 BathsStudio,1BAC$1,550
Elmwood Terrace1 Bed 1 Bath1BR,1BAC$1,700
University HeightsS1Studio,1BAC$1,800
The ShelleyA1 - Studio1BR,1BAC$1,950

Best Value Apartments for Rent in Oak Bay, BC and Nearby

As of October 23, 2025 the best value apartment in the Oak Bay area is the C$2.72 price per square foot 1 Bed 1 Bath Model at Elmwood Terrace in the starting from C$1,700. The second greatest value Oak Bay apartment is the 0 Beds, 1 Baths Model at 1204 Yates Street Apartments starting at C$1,550 with a C$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 ListingModel NameBed/BathPrice Per Sq.Ft.
Elmwood Terrace1 Bed 1 Bath1BR,1BAC$2.72
1204 Yates Street Apartments0 Beds, 1 BathsStudio ,1BAC$3.88
The ShelleyA1 - Studio1BR,1BAC$4.97
University HeightsS1.AStudio ,1BAC$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.

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The 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.

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Remember the 3 Rules of Real Estate:
Location, Location, Location!

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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 C$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 C$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 C$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 C$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.

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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.

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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate! 

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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.

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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.