Victoria has officially caught national attention in the rental market for another reason.
A new report from RentCafe ranks the capital city among the top 10 most desired rental markets in Canada. This highlights the growing competition and pressure on an already struggling housing market.
The quarterly analysis tracks renter behavior across the country and placed Victoria at number 10 in Canada for the second quarter of 2025.
The ranking considers factors like listing views, favorite properties, saved searches, and availability rates.
While Winnipeg, Moncton, and Kingston topped the national list, Victoria’s inclusion shows a shift: Canada’s renters are increasingly looking beyond major cities and seeking smaller, livable towns like those on Vancouver Island.
Although four cities in BCmade the national ranking, Victoria surpassed many bigger and more well-known cities, according to the report. For example, Vancouver dropped to 22nd place even though it continued to draw a lot of interest.
This difference demonstrates how renters are drawn to Victoria’s distinctive blend of a small-town pace, a coastal lifestyle, and closeness to nature.
In addition, the city continues to draw professionals, retirees, and students, all of whom compete in a market that has historically been characterised by low vacancy rates and rising rents.
The data validates what many have experienced on the ground, which is that demand is increasing and finding a place to live is becoming more difficult for residents who are already having difficulty finding housing.
Victoria’s vacancy rate is close to historic lows, according to recent data from the Canada Mortgage and Housing Corporation, while average rents have been rising year over year.
According to the RentCafe report, the squeeze is only getting worse due to national interest.
“Being in the top 10 shows that Victoria is firmly on the map for people searching for rentals across Canada,” the report’s authors noted. “That level of demand indicates a highly competitive environment where availability and affordability are key concerns.”
For those on the hunt, the trend has real consequences. Many renters report sending dozens of inquiries for a single unit, only to face waitlists or bidding wars.
“It feels like the market moves faster than we can keep up with,” said one Victoria renter, who has been searching for a two-bedroom apartment since June. “Every time we find something that fits, it’s gone within days.”
Local housing advocates warn that unless supply expands, Victoria could see worsening affordability issues that drive more people to outlying communities or force renters into precarious situations.
Although projects take years to finish, the city has taken action to promote the construction of new rental housing. Demand, meanwhile, doesn’t appear to be slowing down.
Given that Victoria is currently one of the top 10 rental hotspots in the country, experts advise lawmakers to expedite approvals, provide incentives for new construction, and guarantee tenant protections.
“Victoria’s popularity is a double-edged sword,” the report concludes. “The city’s appeal makes it a magnet for renters, but without more supply, affordability and access are at risk.”
As Victoria cements its status as one of Canada’s most in-demand rental markets, the city faces a challenge familiar to Vancouver and Toronto: balancing growth and livability.
For now, the RentCafe ranking confirms what many locals already know — Victoria is a great place to live. But it also serves as a warning that unless supply meets surging demand, the dream of renting in the capital could become out of reach for many.
