What is the rental vacancy rate in Victoria right now?
The vacancy rate is the share of rental units sitting empty in Victoria. A low number means rentals are scarce — which pushes rents up and can push renters toward buying.
Rental Vacancy · Victoria CMA (CMHC, annual)·Updated Jan 2025
3.1%
Updated annually · ▲ 0.4 pp vs last year
The percentage of rental units in Victoria that are currently empty. A low vacancy rate means rentals are scarce, which puts upward pressure on rents and can push renters toward buying.
Recent trend
Last 24 months
What this means for Victoria right now
As of June 2026, Victoria's strongest market signal is Hold at 76% — Buy 51%, Hold 76%, Sell 45%.
Market conditions strongly favour holding — prices are stable and inventory is balanced.
What this means for you
If you're buying
A tight rental market (low vacancy) often nudges renters into buying, adding demand. A looser market eases that pressure.
If you're selling
Low vacancy supports rental demand and can make income properties more attractive to buyers.
Victoria market context
British Columbia's provincial capital, anchoring a supply-constrained Vancouver Island market.
Unemployment Rate · British Columbia (Statistics Canada)
6.2%
Common questions
Is now a good time to buy in Victoria?
As of June 2026, Victoria's strongest market signal is Hold (76%). Market conditions strongly favour holding — prices are stable and inventory is balanced. Not financial advice.
What is a healthy vacancy rate?
Around 3% is generally considered balanced; below that, rentals are tight and rents tend to rise.
How often is the Victoria vacancy rate updated?
CMHC publishes it once a year, so it changes annually rather than monthly.