639-639 Constance Ave
VictoriaBCV9A 6N8
Cheap Homes for Rent in Oak Bay, BC from $1,600 (6 Rentals)
Search the lowest-cost Homes available for rent right now in Oak Bay.
2626 Cook St
VictoriaBCV8T 3S1
1850 Newton St
VictoriaBCV8R 2R4
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.
3008 Dornier Road
VictoriaBCV9B 0N1
1620 McKenzie Ave
VictoriaBCV8N 0A2
3763 Cadboro Bay Rd
VictoriaBCV8P 5E2
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.
Showing Results 1-6, Page 1 of 1
Oak Bay, BC Local Guide
How much does it cost to rent a home in Oak Bay?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Oak Bay 2 Bedroom Homes for Rent | $2,483 | $1,975 | $3,600 |
| Oak Bay 3 Bedroom Homes for Rent | $3,250 | $2,650 | $3,850 |
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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 2 Beds unit found at The Shelley priced from $1,550. 1204 Yates Street Apartments has the second lowest priced unit, which is a Studio apartment currently listed from $1,580. Here is today’s list of the most affordable Oak Bay apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| The Shelley | C3 - 2 Bed | 2BR,2BA | $1,550 |
| 1204 Yates Street Apartments | 0 Beds, 1 Baths | Studio,1BA | $1,580 |
| University Heights | S1 | Studio,1BA | $1,850 |
Best Value Apartments for Rent in Oak Bay, BC and Nearby
As of June 22, 2026 the best value apartment in the Oak Bay area is the $3.00 price per square foot 1 Bed Model at Rockmeare Manor Apartments in the starting from $1,990. The second greatest value Oak Bay apartment is the 0 Beds, 1 Baths Model at 1204 Yates Street Apartments starting at $1,580 with a $3.95 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. |
|---|---|---|---|
| Rockmeare Manor Apartments | 1 Bed | 1BR,1BA | $3.00 |
| 1204 Yates Street Apartments | 0 Beds, 1 Baths | Studio ,1BA | $3.95 |
| The Shelley | A1 - Studio | Studio ,1BA | $4.82 |
| University Heights | S1.A | Studio ,1BA | $5.71 |
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 Article
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 Oak Bay
What type of rentals are currently available in Oak Bay?
There are currently 171 Apartments for Rent in Oak Bay, BC with pricing that ranges from $1,550 to $3,725. There are also 16 Single Family Homes for rent, Condos, and Townhome rentals currently available in Oak Bay ranging from $1,695 to $3,850.
What is the current price range for Rental Homes in Oak Bay?
Today's rental pricing for Homes for Rent, Condos and Townhomes in Oak Bay ranges from $1,695 to $3,850 with an average monthly rent of $2,631.
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
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.
Pet-Friendly Renting: Everything You Need to Know Before You Move
Written by: Christine Leonard, Esq.
For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.
Creative Ways Developers Reimagine Retail Spaces as Residential Units
Written by: Robin Stewart
Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.