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4 Most Affordable Places to Live in Victoria: Great Neighbourhoods For Less

Posted by Ron Neal on Tuesday, May 16th, 2023 at 9:22am.

Victoria Most Affordable Neighbourhoods

If you're planning on moving to Victoria soon and are still deciding on a community to call home, you may be wondering where to start your search. While there are several desirable areas in the city, knowing which ones are the most affordable can be essential. The following neighbourhoods in the city of Victoria offer residents a mix of property types, unique amenities, and affordable price ranges.

Harris Green

Victoria's smallest but liveliest neighbourhood, Harris Green, offers affordable condos and apartments just outside downtown Victoria.

Harris Green is one of Victoria's oldest neighbourhoods, beginning in the 19th century as a residential area with single-family homes for downtown workers. By the turn of the century, Harris Green started developing into a commercial centre. Residential development returned in the 1960s and 70s with multi-family rentals. After a beautification initiative in the late 1990s, Harris Green became a popular spot for luxury condos in Victoria and a well-recognized commercial and social hub second only to downtown. Today, many condos in the bustling neighbourhood start in the mid-$300s.

Harris Green residents enjoy quick access to shops, restaurants, and cultural attractions without needing a car. Johnson Street is a popular area for boutique shopping, while downtown is just a short walk or bus ride away. Harris Green's highly walkable streets become even more attractive in spring when their many cherry trees sport colourful blossoms.

Harris Green offers the only grocery store within walking distance of downtown, The Market on Yates, offering a vast selection of products, from gluten-free foods and organics to clean meats and ocean-wise seafood. Harris Green also hosts Bin 4 Burger, a gourmet lounge with gluten-free, dairy-free, and vegetarian options.

Harris Green Amenities

  • Pandora Green Parkway
  • Yates Street Community Garden
  • Diversified Health Clinic
  • Victoria Conservatory of Music
  • Metro Studio Theatre
  • Alix Goolden Performance Hall

North Park

One of Victoria's oldest residential neighbourhoods, North Park is a vibrant mixed-use community with beautiful character homes and highly walkable streets.

The southern portion of North Park developed first, beginning with the sale of five-acre lots in the area as early as 1864. This part of the neighbourhood would become the community's business core and still hosts many of North Park's businesses today.

North Park is home to some of the oldest apartment blocks in Victoria, with some buildings dating to the 1910s. The neighbourhood is a great place to look for one-bedroom homes, with condos and apartments being the most common housing type. Condos and townhomes in North Park typically range in price from the mid-$300s to the low-$800s, but the neighbourhood also has some historic properties that can command up to $1.5 million.

North Park is one of the most walkable neighbourhoods in Victoria, with local businesses, live music venues, art studios, and specialty shops within walking distance. Beautiful murals and mature trees line the community's streets, and ten nearby bus lines make getting around easy. North Park has also become a popular dining destination, with eateries like Chicken 649, which serves authentic Korean fried chicken, and Wildfire Bakery, which sells bread and pastries baked in a wood-fired oven.

North Park Amenities

  • Central Park
  • Crystal Pool & Fitness Centre
  • Royal Athletic Park
  • Save-On-Foods Memorial Centre
  • Pacific Opera Victoria
  • Intrepid Theatre
  • Feltham Medical Centre

Burnside Gorge

Reasons to Live in Burnside Gorge in Victora, BC

Nestled on the banks of the Gorge Waterway, the historic Burnside Gorge neighbourhood features a unique mix of industry, retail development, and natural scenery.

Burnside Gorge's residential development began in the 1850s when Hudson's Bay Co employees began purchasing raw land from the fur trade reserve. These estates began subdividing as early as 1861, about the same time the Upper Harbour waterfront became established as Victoria's industrial centre. Commerce spread into the area in the early 20th century, pushing residences further from downtown.

As Burnside Gorge grew and roads expanded, many older buildings and homes were demolished, but the area is still home to some character homes today. The neighbourhood also contains several parks, rare giant sequoias, and excellent water views. While most homes in Burnside Gorge are new-construction condos and townhomes for sale starting in the high-$300s, the area also has some older waterfront gems available for as much as $1.2 million.

Burnside Gorge is a thriving mixed-use neighbourhood with numerous specialty shops, restaurants, and cultural attractions. The community is the centre of Victoria's craft beer scene, with over five breweries and brewpubs. It's also home to eateries like Glo Restaurant + Lounge, a favourite spot for waterfront dining and cocktails, and Wing's Restaurant, one of Victoria's oldest Chinese restaurants.

Burnside Gorge Amenities

  • Victoria Harbour Ferry
  • Galloping Goose Regional Trail
  • Burnside Gorge Community Centre
  • Point Ellice House Museum & Gardens
  • Mayfair Shopping Centre
  • Cecelia Ravine Park
  • Arbutus Park
  • Topaz Park

Old Town

One of the most historic parts of Victoria, Old Town offers affordable condos and townhomes close to some of downtown Victoria's best shops, restaurants, and cultural attractions.

Old Town features three distinct historical areas. The old commercial district encompasses most of the neighbourhood and contains commercial heritage buildings built in the late 19th century and numerous shops and restaurants. Meanwhile, the waterfront has old warehouse buildings and hotels from Victoria's days as a commercial seaport during the Gold Rush.

The northern part of Old Town is home to Canada's oldest surviving Chinatown, now a major tourist attraction. Most of Old Town's affordable housing is in this area. These homes are predominantly mid-rise condos, but Old Town also has some townhomes. Prices start in the mid-$300s.

Old Town residents enjoy quick access to a bustling commercial district and some of Victoria's best attractions, from informative museums to the narrow Fan Tan Alley in Chinatown. The Bay Centre Shopping Centre spans an entire city block, featuring over 80 specialty shops, service providers, and restaurants. Meanwhile, Market Square hosts local boutiques offering all sorts of goods, from locally made jewellery and home goods to a vegetarian buffet and Neapolitan pizza.

Old Town Amenities

  • Centennial Square
  • Victoria Marina
  • Johnson Street Wharf
  • Victoria Harbour Ferry
  • Maritime Museum of British Columbia
  • Victoria Bug Zoo
  • Miniature World
  • Victoria Conference Centre

Discover Affordable Homes in Victoria

Victoria, British Columbia, has a wide range of neighbourhoods to choose from, each with their own unique charm and affordability. While the cost of living in Victoria is comparable to other cities in Canada, these neighbourhoods are worth considering and provide an excellent opportunity for those who want to enjoy the city's beauty, culture, and amenities affordably.

If you're dreaming about living in Victoria, contact The Neal Estate Team at (250) 386-8181 to get in touch with a local Victoria real estate agent who can help you find your perfect home.

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The Neal Estate Group is your #1 source for all of your Victoria BC real estate needs. Get in touch with us online or by phone at (250) 386-8181 to speak with a Victoria real estate buying or selling expert today. With decades of experience as a top selling Victoria REALTOR® and ranked in top 1% globally with over 5,000 transactions and $1 Billion SOLD, Ron Neal & The Neal Estate Group have the industry experience and market knowledge to help you make smart and informed buying or selling decisions. 


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