Victoria one-bedroom rents dropped nearly 8% this year

Victoria apartment rents fell nearly eight per cent over the past year, part of a broader cooling across British Columbia. The average asking rent for a one-bedroom here dropped 7.9 per cent year-over-year in June, according to Zumper's latest National Rent Report.

The average one-bedroom now lists at $1,980, a one per cent bump from May but well below last summer. Two-bedrooms averaged $2,630, up four per cent month-over-month yet still down 5.7 per cent from June 2025.

The report credits a flood of new supply. "A record supply pipeline is still working through B.C., which is expected to keep pressure on rents even as seasonal demand picks up," it says. Kelowna saw the province's steepest drop at 11.4 per cent, while Vancouver stayed Canada's priciest market with rents actually up 2.1 per cent.

Even with the decline, Victoria is still the fifth most-expensive city on the list. The report suggests renters may keep benefiting as more purpose-built units come online in the months ahead.