Oak Bay

Town · British Columbia · Population 17,990

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Housing and jobs

Housing costs, rents, incomes and jobs in Oak Bay, with comparisons and sources.

Affordability

3 · Poor

Average monthly rent$1,606/month

BC: $1,494/month · Canada: $1,209/month · 2006: $1,294/month · 2016: $1,322/month (in 2021 dollars) · Statistics Canada, 2021

Average rent, bachelor apartmentPurpose-built rentals, CMHC October survey.$1,349/month

Metro area average · CMHC, 2025

Average rent, 1-bedroom apartmentPurpose-built rentals, CMHC October survey.$1,624/month

Metro area average · CMHC, 2025

Average rent, 2-bedroom apartmentPurpose-built rentals, CMHC October survey.$2,121/month

Metro area average · CMHC, 2025

Average rent, 3-bedroom apartmentPurpose-built rentals, CMHC October survey.$2,742/month

Metro area average · CMHC, 2025

Rental vacancy rateShare of purpose-built rental apartments empty and available in October.3.1%

Metro area average · CMHC, 2025

Median dwelling value (owner-estimated)$1,400,000

BC: $785,000 · Canada: $472,000 · 2016: $992,492 (in 2021 dollars) · Statistics Canada, 2021

Households spending 30%+ of income on housing23.3%

BC: 25.5% · Canada: 20.9% · 2006: 22.3% · 2016: 22.5% · Statistics Canada, 2021

Economy

45 · Average

Median household income$107,000

BC: $85,000 · Canada: $84,000 · 2006: $92,245 · 2016: $101,212 (in 2020 dollars) · Statistics Canada, 2021

Population growth (5-year)-0.6%

BC: 7.6% · Canada: 5.2% · 2016: 0.4% · Statistics Canada, 2021

Unemployment rate7%

BC: 8.4% · Canada: 10.3% · 2006: 3.2% · 2016: 5.3% · Statistics Canada, 2021