Our team at Auxilium Mortgage has analyzed the latest BC Assessment data to identify where single-family homes are most and least expensive across the Island. We examine typical assessment values for each community and track year-over-year trends to show you which markets are heating up and where there’s still affordability for prospective homebuyers.
While there are no big surprises in the most expensive places, there are a few areas to keep an eye on the least expensive side. The rankings saw a few changes this year, with some communities shifting positions.
The Most Expensive Regions on Vancouver Island for 2026
The most expensive places remained the same as last year; the market is stable with no big shifts. The only two notable changes were the districts of Metchosin and Highlands, with a more significant decrease.
#10: Township of Esquimalt – $1,014,000
Keeping its spot as the 10th most expensive community, Esquimalt shows a single-family home averaging $1.014mil for 2026, staying flat from last year. Located just west of Victoria, this township serves as the home base for Canada’s Pacific Naval fleet. This vibrant community integrates modern residential neighbourhoods, historic military elements and many waterfront parks.
#9: Town of View Royal – $1,089,000
View Royal holds the ninth spot with homes averaging $1.089mil, a modest 1% dip from 2025. Rich in heritage sites and green space, this municipality is loved by families looking for urban convenience while still close to natural surroundings such as Thetis Lake and Portage Park.
#8: District of Central Saanich – $1,091,000
Central Saanich comes in eighth with an average value of $1.091mil, up 1% from the previous year. Nested in the Saanich Peninsula, this community is unique for its rural identity despite being just 20 minutes from Victoria, with a rare blend of “farm-to-table” lifestyle and top-notch tourism attractions.
#7: City of Victoria – $1,128,000
Victoria ranks seventh with single-family homes valued at $1.128mil for 2026, showing a 1% increase year over year. Residents get Vancouver Island’s prime urban lifestyle, blended with easy access to nature through one of the most comprehensive and rapidly expanding protected bike lane networks in Canada.
#6: District of Saanich – $1,164,000
Saanich secures the sixth position at $1.164mil, up 1% from 2025. As Vancouver Island’s most populated municipality and the largest in Greater Victoria, Saanich is half-urban and half-rural, offering homebuyers various options among its 170+ municipal parks.
#5: District of Metchosin – $1,221,000
The coastal district of Metchosin ranks fifth with homes valued at $1.221mil, down 2% from last year. Bordered by the Strait of Juan de Fuca, this quiet community of just over 5,000 residents prioritizes environmental protection and rural character over rapid development.
#4: District of Highlands – $1,231,000
Highlands claims the fourth spot at $1.231mil for single-family homes, down 3% from 2025. With more than a third of its land preserved as parkland, this Greater Victoria municipality will attract residents passionate about conservation and outdoor adventure.
#3: District of North Saanich – $1,366,000
North Saanich takes the bronze with properties averaging $1.366mil, a 1% increase from the previous year. Surrounded by over 20km of ocean shoreline, the residents of this district have a local tradition to go “farm stand hopping” for fresh eggs, flowers, honey and produce via the honour system.
#2: District of Tofino – $1,496,000
Standing as the sole non-Greater Victoria community in the top ten, Tofino ranks second at $1.496mil, down 1% from 2025. This west coast destination continues attracting visitors and homeowners alike with world-class surfing, hiking, and ecotourism. The community recently completed a new Destination Stewardship Plan in partnership with Tla-o-qui-aht First Nation, focusing on sustainable tourism and environmental protection.
#1: District of Oak Bay – $1,647,000
Oak Bay retains its crown as Vancouver Island’s priciest community at $1.647mil, up 1% from last year. This municipality features part of the University of Victoria campus, 20+ public waterfront access points, and a commitment to preserving neighbourhood character. For context, a single-family home here costs about $633,000 more than one in Esquimalt.
The Least Expensive Regions on Vancouver Island for 2026
Rankings among the most affordable communities remained fairly consistent with a few swaps. These northern Island locations offer unique opportunities for those pursuing remote work, small business ventures, or simply seeking a quieter pace of life.
#10: Town of Lake Cowichan – $606,000
The typical Lake Cowichan home value has climbed 3% to $606,000, reflecting a community that continues to grow without losing its laid-back feel. This small town is known for hot days spent river tubing along the Cowichan River, with some of the warmest summer temperatures in Canada. Buyers who want local history, a tight-knit community, and outdoor adventure right outside their door will find it fits all the boxes.
#9: City of Duncan – $592,000
Duncan ranks ninth for affordability at $592k, marking a 4% increase from 2025. Situated in the heart of Cowichan Valley wine country, the smallest city by area in Canada packs a lot of charm into its boundaries. The region is receiving lots of new commercial developments, including a 150,000 square foot retail center near the future hospital site.
#8: City of Port Alberni – $485,000
Port Alberni offers homes at $485k for 2026, a 3% decrease from the previous year. This Central Island city charms people with urban amenities, mountain and ocean views, creating an appealing environment for outdoor enthusiasts. Along with Duncan, it represents one of only two cities among the Island’s most affordable communities.
#7: Town of Port McNeill – $434,000
Port McNeill properties average $434k, down 2% from 2025. Serving as the central hub for North Vancouver Island, this town provides essential services and ferry access to Alert Bay and Sointula, while offering gateway access to pristine wilderness areas.
#6: District of Port Hardy – $370,000, tying with the Village of Sayward – $370,000
Port Hardy matches Sayward at $370k, having increased 3% from 2025. Home to Cape Scott Provincial Park and the BC Marine Trail, this northern community delivers spectacular coastal scenery, diverse hiking options, and year-round access to fishing and marine wildlife viewing.
With fewer than 400 residents, Sayward remains the seventh most affordable spot at $370k, holding steady with last year’s values. This forestry-rooted community provides great outdoor entertainment, from cave exploration and whale watching to paddling the White and Salmon Rivers.
#5: Village of Port Alice – $335,000
Port Alice properties average $335k, remaining essentially unchanged from last year. This small francophone community of about 700 people sits on the Neroutsos Inlet, offering fantastic saltwater fishing, kayaking, and diving opportunities for residents and visitors.
#4: Village of Gold River – $333,000
Gold River homes are valued at $333k on average for 2026, up 1% from last year. Despite its western location, this village is considered part of North Island. Positioned at the edge of Gold Muchalat Provincial Park, the community works to maintain its small-town character and historical roots.
#3: Village of Alert Bay – $320,000
Alert Bay on Cormorant Island ranks third at $320k, showing a notable 7% increase from 2025. Accessible via ferry from Port McNeill, this coastal village features extensive boardwalks, fishing docks, and marinas that showcase the community’s deep maritime heritage.
#2: Village of Tahsis – $204,000
Tahsis claims the second spot at $204k, up 2% from the previous year. Though its population has declined from over 2,500 in its heyday to around 400 today, this remote community offers exceptional value for those willing to embrace its isolation and natural beauty.
#1: Village of Zeballos – $161,000
Zeballos remains Vancouver Island’s most affordable community at $161k, representing less than 10% of Oak Bay’s average home value. Located on the northwest coast, this village has seen a 5% increase in values from 2025. Known for ecotourism, sport fishing, and kayaking, Zeballos presents an unmatched entry point for those prioritizing affordability over amenities.
Ready to make your move on Vancouver Island? Auxilium Mortgage is here to guide you.
If you have reached this blog post, you know that every Vancouver Island community cited here offers something unique. No matter where you’re looking to call home, Auxilium Mortgage has the expertise to secure the right mortgage solution for your needs. Let’s start the conversation today!