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1 to 2 Bedroom Apartments
Oak Bay Beach Residences
1175 Beach DrOak Bay, BC V8S 3A8
Cheap Apartments for Rent in Oak Bay, BC from $1,500 (36 Rentals)
Search the lowest-cost Apartments available for rent right now in Oak Bay.
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1 to 2 Bedroom Apartments
The Clive
1510 Clive DrOak Bay, BC V8R 1G7
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1 Bedroom Apartments
2013 Oak Bay Ave
2013 Oak Bay AveOak Bay, BC V8R 1E5
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Rent Specials
$1,850 - $3,725
Total Monthly Price
Studio to 3 Bedroom Apartments Available NowTotal Monthly Price
Base Rent
$1,850 - $3,725
Total Monthly Price
$1,850 - $3,725
University Heights
3980 Shelbourne StVictoria, BC V8N 6J1
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$1,580 - $2,445Studio to 2 Bedroom Apartments
1204 Yates Street Apartments
1204 Yates StVictoria, BC V8V 4V1
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$1,980Studio to 1 Bedroom Apartments
Island Manor Apartments
1855 Fort StVictoria, BC V8R 1J9
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1 to 3 Bedroom Apartments
Bellwood Park
1201 Fort StVictoria, BC V8V 3L1
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$2,200 - $4,0001 to 3 Bedroom Apartments
Belmont
1035 Belmont AveVictoria, BC V8S 3T5
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Studio to 2 Bedroom Apartments
The Row
1154 Johnson StVictoria, BC V8V 3N8
Rent According to Income: A Look at Income-Restricted Rentals
Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.
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$1,5001 to 2 Bedroom Apartments
1050 Pemberton
1050 Pemberton RdVictoria, BC V8S 3R6
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$1,700 - $2,3001 to 2 Bedroom Apartments
Elmwood Terrace
1399 Stanley AveVictoria, BC V8S 3S5
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$2,100 - $2,2001 to 2 Bedroom Apartments
Wellington Manor
1670 Fort StVictoria, BC V8R 1H9
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Studio Apartments
Tuscany Village
1620-1638 Mckenzie AveSaanich, BC V8N 1A5
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$1,5502 Bedroom Apartments
Shelbourne Apartments
3820 Shelbourne StSaanich, BC V8P 4H5
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Studio Apartments
Stadacona
1510-1564 Fort StVictoria, BC V8S 5J2
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1 to 2 Bedroom Apartments
Chartwell House
1343 Harrison StVictoria, BC V8S 1Z9
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Studio Apartments
Maddison
1082-1084 Richmond AveVictoria, BC V8S 3Z5
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1 to 2 Bedroom Apartments
Fifteen88
1588 N Dairy RdVictoria, BC V8T 3V4
Renters Insurance 101: What It Is, What It Covers, and Why You Need It
From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.
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1 to 3 Bedroom Apartments
The Affinity
4024 Shelbourne StSaanich, BC V8N 3E2
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Studio Apartments
Central Manor
1230 Fort StVictoria, BC V8V 3L2
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Studio Apartments
1249 Fort St
1249 Fort StVictoria, BC V8V 3L3
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Studio Apartments
1234 Fort St
1234 Fort StVictoria, BC V8V 3L2
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1 to 3 Bedroom Apartments
Ocean View Terrace Apartments
2707 Estevan AveVictoria, BC V8R 2T5
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3 Bedroom Apartments
1712-1720 Fairfield Rd
1712-1720 Fairfield RdVictoria, BC V8S 1G3
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1 Bedroom Apartments
The Rockland
1033 Belmont AveVictoria, BC V8S 3T5
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Studio Apartments
Forest Hillls
1516-1518 Pandora AveVictoria, BC V8R 1A8
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Studio Apartments
2580 Penrhyn St
2580 Penrhyn StSaanich, BC V8N 1G3
How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide
Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.
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Studio Apartments
1593 Begbie St
1593 Begbie StVictoria, BC V8R 1K9
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1 Bedroom Apartments
1265 Grant St
1265 Grant StVictoria, BC V8T 1C1
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Studio Apartments
Bristol Apartments
1138 View StVictoria, BC V8V 3M1
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Studio Apartments
Terraces
1635 Oak Bay AveVictoria, BC V8R 1B3
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1 to 2 Bedroom Apartments
Denman Manor Apartments
1255 Denman StVictoria, BC V8T 1L6
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Studio to 2 Bedroom Apartments
The Stanley
340 Linden AveVictoria, BC V8V 4E9
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Studio Apartments
1225 Fort St
1225 Fort StVictoria, BC V8V 4R2
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1 Bedroom Apartments
1165 Meares St
1165 Meares StVictoria, BC V8V 3J9
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1 to 3 Bedroom Apartments
1148 Oscar St
1148 Oscar StVictoria, BC V8V 2X4
What Does “Rent Burdened” Mean? How Much Rent Is Too Much
Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.
Showing Results 1-36, 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 | $2,002 | $1,580 | $2,095 |
| Oak Bay 1 Bedroom Apartments | $2,556 | $1,900 | $2,910 |
| Oak Bay 2 Bedroom Apartments | $3,208 | $2,199 | $3,725 |
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
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 $1,580. 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 | $1,580 |
| Elmwood Terrace | 1 bed plus den | 1BR,1BA | $1,700 |
| Rockmeare Manor Apartments | Bachelor Suite | Studio,1BA | $1,820 |
| University Heights | S1 | Studio,1BA | $1,850 |
| The Shelley - Student Rental | B2 - Studio | Studio,1BA | $1,925 |
| Pacific Shores | 2 Bed 1 bath | 2BR,1BA | $2,100 |
Best Value Apartments for Rent in Oak Bay, BC and Nearby
As of July 23, 2026 the best value apartment in the Oak Bay area is the $2.61 price per square foot 2 Bed 1 bath Model at Pacific Shores in the starting from $2,100. The second greatest value Oak Bay apartment is the 1 Bed 1 Bath Model at Elmwood Terrace starting at $1,700 with a $2.79 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. |
|---|---|---|---|
| Pacific Shores | 2 Bed 1 bath | 2BR,1BA | $2.61 |
| Elmwood Terrace | 1 Bed 1 Bath | 1BR,1BA | $2.79 |
| Rockmeare Manor Apartments | Bachelor Suite | Studio ,1BA | $4.17 |
| 1204 Yates Street Apartments | 0 Beds, 1 Baths | Studio ,1BA | $3.95 |
| The Shelley - Student Rental | A1 - Studio | Studio ,1BA | $4.82 |
| University Heights | S1.A | Studio ,1BA | $5.92 |
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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Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University
From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.
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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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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 $1,580.
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.
Expert Rental Resources
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.
Articles, How-To's, and Tips
Rent According to Income: A Look at Income-Restricted Rentals
Written by: Robin Stewart
The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.
Renters Insurance 101: What It Is, What It Covers, and Why You Need It
Written by: Robin Stewart
Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.
Apartment Occupancy Rates: Renter Attraction vs Renter Retention
Written by: Robin Stewart
There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.
How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide
Written by: Robin Stewart
Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.