Cheap Houses for Sale on Vancouver Island

Cheap Vancouver Island Houses for SaleAre you on the hunt for cheap houses for sale on Vancouver Island? Look no further! While Vancouver Island boasts some of Canada's most picturesque landscapes, it's still possible to find your dream home without breaking the bank. We've done the research and listed the cheapest real estate listings and most affordable communities, each with its unique charm, to help you make an informed decision. Let’s dive in!

Cheap Real Estate on Vancouver Island Sorted by Type

On this page you will find three types of Vancouver Island MLS real estate listings: the most affordable houses for sale on Vancouver Island; the most affordable townhouses and condos for sale; and the most affordable manufactured homes for sale.

The Most Affordable House Listings on Vancouver Island June 13, 2024
Avg. DOM
Avg. $ / Sq.Ft.
Med. List Price
23 Properties
The Most Affordable Townhouse/Condo Listings on Vancouver Island June 13, 2024
Avg. DOM
Avg. $ / Sq.Ft.
Med. List Price
105 Properties
Page 1 of 4
The Most Affordable Manufacture Home Listings on Vancouver Island June 13, 2024
Avg. DOM
Avg. $ / Sq.Ft.
Med. List Price
61 Properties
Page 1 of 3

Communities with Cheap Real Estate for Sale on Vancouver Island

Vancouver Island is truly a paradise, and it wouldn't be fair to use the owrd cheap to descripe the communities. Below is a list of the major towns and cities on Vancovuer Island ranked by the real estate affordability. To view houses for sale in any of the communities, simply click on the community name. 

1. Port Alberni: Your Pocket-friendly Haven

Average Sale Price: $647,447 Nestled in a valley at the heart of Vancouver Island, Port Alberni offers the perfect balance between serene nature and modern amenities. With house prices averaging under $650,000, it's the island's top spot for cheap houses for sale.

2. Campbell River: Ocean Views on a Budget

Average Sale Price: $751,259 Known as the "Salmon Capital of the World," (Port Alberni might have something to say about that) Campbell River is a dream location for fishing enthusiasts and nature lovers alike. With its captivating ocean views and reasonably priced homes, it’s a steal for those seeking coastal living.

3. Cowichan Valley: The Napa of the North

Average Sale Price: $833,708 Experience wine country's charm without the California price tag. Cowichan Valley, affectionately termed the “Napa of the North,” is ideal for wine enthusiasts and anyone looking for a mix of rural and suburban living.

4. Comox Valley: A Blend of Beaches and Mountains

Average Sale Price: $889,663 Comox Valley brings you closer to both mountain adventures and serene beachfronts. While the property prices are getting up there, it's still possible to find a house without stretching your budget too thin.

5. Nanaimo: Harbour City Charms

Average Sale Price: $891,964 Nanaimo, the Harbour City, is a vibrant community with bustling waterfronts, shopping districts, and parks. Not only does it offer beautiful vistas, but it's also the shopping and transportation hub of Vancouver Island.

6. Parksville/Qualicum: A Coastal Retreat

Average Sale Price: $976,596 Golden sands and breathtaking ocean views define the Parksville and Qualicum region. If you're yearning for a coastal retreat this is the place for you. It's a popular place to retire, and the real estate prices reflect that fact. .

7. Victoria: Urban Living with a Historic Touch

Average Sale Price: $1,354,921 While Victoria is on the higher end of our affordable spectrum, the city's rich history, stunning architecture, and urban conveniences make it an attractive option for those looking to live in a lively metropolis on Vancouver Island.