South Oak Bay

Neighbourhood in Oak Bay · British Columbia · Population 4,969

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Approximate boundaries

Oak Bay doesn't publish neighbourhood boundaries, so AreaScore draws from the Census areas nearest where the name is placed by Natural Resources Canada, Wikidata, OpenStreetMap or AreaScore's own research. The outline follows Census lines and may not match how residents draw it. Figures marked city-wide are for all of Oak Bay.

Housing and jobs

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

Affordability

15 · Poor

Average monthly rent$2,296/month

Oak Bay: $1,606/month · Canada: $1,209/month · 2006: $1,660/month (estimated) · 2016: $1,210/month (estimated) (in 2021 dollars) · Statistics Canada, 2021

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

City-wide figure for Oak Bay · CMHC, 2025

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

City-wide figure for Oak Bay · CMHC, 2025

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

City-wide figure for Oak Bay · CMHC, 2025

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

City-wide figure for Oak Bay · CMHC, 2025

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

City-wide figure for Oak Bay · CMHC, 2025

Median dwelling value (owner-estimated)$1,599,250

Oak Bay: $1,400,000 · Canada: $472,000 · Estimated · 2016: $1,133,630 (estimated) (in 2021 dollars) · Statistics Canada, 2021

Households spending 30%+ of income on housing20.9%

Oak Bay: 23.3% · Canada: 20.9% · 2006: 21.2% (estimated) · 2016: 20.8% (estimated) · Statistics Canada, 2021

Economy

37 · Below average

Median household income$124,963

Oak Bay: $107,000 · Canada: $84,000 · Estimated · 2006: $106,426 (estimated) · 2016: $116,607 (estimated) (in 2020 dollars) · Statistics Canada, 2021

Population growth (5-year)-0.6%

Canada: 5.2% · City-wide figure for Oak Bay · Statistics Canada, 2021

Unemployment rate7.9%

Oak Bay: 7% · Canada: 10.3% · 2006: 3.3% (estimated) · 2016: 4.7% (estimated) · Statistics Canada, 2021