509 Millstream Rd
VictoriaBCV9B 2S1
Cheap Homes for Rent near Oak Bay, BC from $1,500 (9 Rentals)
Search the lowest-cost Homes available for rent right now in Oak Bay.
6900 Blanchard Rd
SookeBCV9Z 0L2
2629 Millstream Rd
VictoriaBCV9B 7E4
1066 Jenkins Ave
VictoriaBCV9B 2N7
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.
2626 Cook St306
2626 Cook StUnit 306
VictoriaBCV8T 3S1
1776 Mckenzie Av
VictoriaBCV8N 1A7
2883 Constellation Av
VictoriaBCV9B 6Z7
1234 Flint Ave
LangfordBCV9B 0T9
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.
3008 Dornier RoadLower
VictoriaBCV9B 0N1
Showing Results 1-9, 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 | $2,762 | $1,800 | $4,000 |
| Oak Bay 3 Bedroom Homes for Rent | $3,237 | $2,750 | $4,200 |
| Oak Bay 5 Bedroom Homes for Rent | $9,000 | $9,000 | $9,000 |
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
Browse Top Homes for Rent in Oak Bay
Explore 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 plus den | 1BR,1BA | $1,700 |
| University Heights | S1 | Studio,1BA | $1,825 |
Best Value Apartments for Rent in Oak Bay, BC and Nearby
As of August 16, 2026 the best value apartment in the Oak Bay area is the $2.68 price per square foot 1 bed plus den Model at Elmwood Terrace in the starting from $1,700. The second greatest value Oak Bay apartment is the 2 Beds, 1 Baths Model at 1204 Yates Street Apartments starting at $2,395 with a $5.99 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 plus den | 1BR,1BA | $2.68 |
| 1204 Yates Street Apartments | 2 Beds, 1 Baths | 2BR,1BA | $5.99 |
| University Heights | S1.A | Studio ,1BA | $5.93 |
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.
Read Article
Quick 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.
Let everyone know!
Do you know the Oak Bay area?
If you’re an expert on all things Oak Bay, tell us what you love (and don't) by rating it and writing a review.
Write a Review
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 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 $3,605. There are also 21 Single Family Homes for rent, Condos, and Townhome rentals currently available in Oak Bay ranging from $1,550 to $9,000.
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 $1,550 to $9,000 with an average monthly rent of $3,186.
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.
First Apartment Regrets: Real Renters Share What They'd Do Differently
Written by: Robin Stewart
Hindsight is 20/20. Live and Learn. With age comes wisdom. We’re familiar with all those expressions, and all of them apply to lessons first-time renters learn.
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.