Affordable Condos in Victoria BC: 8 Budget-Friendly Condos

The city of Victoria is a popular destination for tourists and residents alike, known for its mild climate, beautiful landscapes, and vibrant culture. With the rising cost of living in the city, many people moving to Victoria are looking for more affordable housing options, including condos. Fortunately, a variety of condos in Victoria are priced to suit a range of budgets. This article will explore the most affordable condos for sale in Victoria, BC, to help prospective buyers find their dream homes without breaking the bank.

Harrington House

Straddling the edge of Victoria and the community of Oak Bay, Harrington House offers affordable condos near the historic Royal Jubilee Hospital.

The low-rise condo offers 78 spacious units spread across six storeys. One-bedroom and two-bedroom suites range from just under 64 square metres to over 85 square metres of living space. Each unit features a generous patio or balcony overlooking the condo's pristine landscaping and beautiful mature trees. Suites in Harrington House typically sell for just under $400,000 to $470,000.

The steel and concrete condo is just a few blocks from the Royal Jubilee Hospital, the principal driver behind the surrounding Jubilee neighbourhood's development. The hospital opened in 1890 at the same time as the electric streetcar system. Before the late 19th century, farms and private estates had dominated the area.

In addition to the nearby hospital, Harrington House is within walking distance of numerous attractions, including parks, gyms, shops, and restaurants. Its location on the edge of Oak Bay, one of Victoria's best suburbs, means even more amenities and things to do. A path leads directly from the condo to a bus station just east of the building, providing residents quick access to the rest of the city.

The Sandpiper

The Sandpiper features affordable condos in an attractive brick high-rise just outside downtown Victoria.

The 13-storey building boasts 120 spacious one-bedroom suites ranging from $335,000 to $365,000. Most suites have sliding doors leading out onto covered balconies with excellent views. South-facing suites feature stunning views of the Olympic mountains, while others offer fine views of the city and the condo's carefully landscaped grounds.

The Sandpiper's convenient location near the southern end of North Park gives residents easy access to a treasure trove of amenities and many of the schools in Victoria. Residents can find theatres, restaurants, grocery stores, churches, and parks within just a few blocks. The apartment is also just a short walk or bus ride from downtown, which features even more cultural attractions and businesses.

North Park is one of Victoria's oldest residential neighbourhoods, tracing its development to the mid-19th century. Twenty five-acre lots in the area were offered for sale in 1864, and developers had subdivided all but four of these into smaller lots by 1872. While much of North Park is predominantly residential, the southern portion of the neighbourhood where the Sandpiper lies eventually became the community's business core. Now a vital part of Victoria's economy, residents here can enjoy eclectic, historic architecture and beautiful murals lining highly walkable streets leading to near-endless things to do.

The Mondrian

Set in the lively Harris Green neighbourhood, The Mondrian offers stylish and affordable condos mere steps away from Victoria's best shops, restaurants, and cultural attractions.

Inspired by the work of Dutch abstract artist Piet Mondrian, the 10-storey tower is a unique contribution to Victoria's skyline. The Mondrian resembles the famous artist's iconic square grid of colourful blocks, featuring neutral-coloured steel and concrete interspersed with glass balconies sporting vibrant primary colours.

The Mondrian's 93 units include studios and one- or two-bedroom apartments for sale. All of the Victoria condos in The Mondrian feature Caesarstone quartz countertops and backsplash, stainless steel appliances, Moen faucets, and European-style cabinetry. These chic condos typically sell for $172,000 to $425,000.

The Mondrian sits in the heart of Harris Green, a commercial centre and social hub second only to downtown. A beautification initiative in the late 1990s made Harris Green one of Victoria's densest and fastest-growing neighbourhoods. With a highly coveted Johnson Street address and ground-floor retail space, The Mondrian offers its residents unparalleled access to shops and essential services. Residents of the high-rise will find parks, hospitals, fitness centres, and restaurants less than a block from home. Meanwhile, a bus stop just across the street makes accessing the rest of Victoria a breeze.

Tresah

Spread across two innovative buildings, Tresah features affordable and environmentally-friendly Victoria townhomes and condos just minutes from excellent shops and restaurants.

Tresah East is the development's first phase and consists of 68 homes spread across six storeys. Units feature spa-like bathrooms with deep tubs and detachable handheld shower heads. Meanwhile, Tresah West offers 179 residences in a 12-storey tower. Two-level townhomes on the building's first floor boast private patios and direct access to the condo's green spaces.

Tresah's design blends sustainable materials with modern technology to create elevated living spaces. The two buildings are made of recycled steel and concrete and heated with low-cost and energy-efficient variable refrigerant flow. Meanwhile, smart home control panels give residents automated control over window coverings, lighting, security, and other features.

Each suite has 9-foot exposed wood ceilings, oak flooring with soundproofing, and quartz countertops and backsplash in kitchens and bathrooms. Buyers can choose from studios or one- and two-bedroom suites with spacious floor plans. Tresah suites are available from $464,000 to $570,000.

Tresah sits near the northern edge of the Burnside neighbourhood, a central industrial district from the mid-19th century until Victoria's economy shifted focus in the 1980s. The condo complex is just a two-minute walk from the Mayfair Shopping Centre, one of Victoria's most popular shopping destinations.

Yates on Yates

Between downtown and Harris Green, Yates on Yates offers affordable modern condos in the heart of Victoria's most bustling districts.

Yates on Yates features a stylish modern design, with a textured brick exterior broken up by numerous windows. In total, 126 homes span the condo's 20 storeys, each offering a spacious balcony with beautiful water, city, or mountain views.

Suites in Yates on Yates boast artfully designed modern interiors. Kitchens come with European cabinetry, Fisher & Paykel appliances, quartz countertops and backsplash. Meanwhile, spa-like main bathrooms feature Grohe fixtures and heated tile floors. While the sprawling penthouses are among the most expensive condos in Victoria, costing up to $2.1 million, modest studios and one-bedroom suites in Yates on Yates typically sell for $400,000 to $455,000.

With ground-floor retail and an enviable downtown address, Yates on Yates offers excellent access to Victoria's best attractions. Downtown Victoria is home to the city's historic Chinatown community and numerous theatres, restaurants, shops, and parks, many within a short walk from Yates on Yates. A bus stop outside the condo provides quick access to even more of the Garden City.

Ironworks

Ironworks offers affordable condos in the heart of Victoria's historic Old Town district, mere blocks from the Upper Harbour waterfront. It's also considered one of Victoria's best condo communities.

This striking, modern condo complex features two five-storey wood frame buildings. Weathered steel panels on the Store Street building and engineered metal panels on the Chatham Street building give Ironworks a unique appearance reminiscent of Victoria's history as a commercial seaport and industrial centre during the Gold Rush.

After the 1858 discovery of gold in the Fraser Canyon, many people flocked to Old Town. What emerged would become Canada's oldest surviving Chinatown, which still offers shops, restaurants, and temples today. Ironworks sits on the border of this famous district and the beautiful waterfront area lined with historic warehouses and hotels.

Each of Ironworks' 88 suites comes with a fully equipped gourmet kitchen with quartz countertops, ceramic tile backsplash, and energy-efficient appliances. Amazingly, they're affordable, too, helping to achieve a lower cost of living in Victoria for residents. Bathrooms feature custom vanity cabinets and spacious walk-in showers with rain shower heads. Many residences also have patios or balconies. Studios or one-bedroom suites in Ironworks have sold for $275,000 to $500,000.

Horizon II at The Railyards

Buyers can find affordable, environmentally friendly condos at Horizon II at The Railyards, a mixed-use development overlooking the Gorge waterway.

The four-storey building offers one- and two-bedroom Victoria West condos, listing from $390,000–$670,000. Contemporary kitchens feature a two-tone design, stainless steel appliances, quartz countertops, and tile backsplash. Meanwhile, bathrooms boast a 1.5-metre shower/tub where residents can indulge after a long day. Each suite in Horizon II also has a spacious patio or balcony for outdoor relaxation.

The mid-rise has numerous environmentally friendly features, including site-wide stormwater management, CMHC-rated energy-efficient windows, and an independent fresh air and heat recovery ventilation system. Most striking is the green roof system covering the parkade with attractive ornamental grasses and sedums.

Horizon II sits at the base of the Point Ellice Bridge in the Victoria West neighbourhood, just across the water from downtown. Vic West joined Victoria in 1890. The subsequent introduction of the streetcar and upgraded bridges gave the area better access to downtown, leading to a decade-long residential boom. Another building and restoration boom from the 1970s–1990s added more retail, restaurants, and housing, creating the vibrant Vic West residents enjoy today.

Grocery stores, coffee shops, restaurants, and parks are all just a short walk from Horizon II at The Railyards. The Galloping Goose Trail bounds the eastern side of the development and allows residents to reach nearby attractions while enjoying the scenic waterfront.

The SoHo

Located in the heart of the trendy North Park neighbourhood, The SoHo features affordable condos that make for excellent investment opportunities.

The SoHo features a contemporary yet classic design that helps it fit in with the surrounding neighbourhood's historic architecture despite being built in 2006. The wood frame building features a neutral palette with brown brick and wood siding and a striking symmetrical design.

The compact three-storey condo offers just 15 one- and two-bedroom suites. These cozy homes boast spacious open floor plans, bright interiors with sizable windows and polished concrete floors, and roomy balconies offering views of the nearby character homes. Some units also feature garden boxes where residents can grow plants.

With prices ranging from the mid-$300s to the low $400s, suites in The SoHo present an excellent opportunity for finding an affordable home or investment property. The entire building is transient-zoned, a rare feature allowing for short-term rentals of any unit. Two-bedroom units in The SoHo have achieved nightly rates of nearly $400 per night in the high season and $140 to $175 per night in the off-season.

The SoHo's convenient location in the colourful North Park neighbourhood—often mentioned among Victoria's most walkable neighbourhoods—offers quick access to numerous attractions, including parks, local shops, live music venues, art studios, and historic sites. It's also right next to downtown and less than a block from the nearest bus stop, making it easy to access the rest of Victoria.

Victoria's Wonderful Variety of Condos

British Columbia's capital city offers a variety of affordable condominium options for those looking to purchase a property—many of which are in some of Victoria's best neighbourhoods. Whether you are a first-time homebuyer or looking to downsize, there is a condo that fits your budget. From downtown to suburban areas, several neighbourhoods offer affordable living options.