Construction is ongoing in Kelowna where the city hopes an influx of rentals will help the market in the coming years. Here, Jonathan Elbrace works on a building in Rutland. - Image: Carli Berry

Construction is ongoing in Kelowna where the city hopes an influx of rentals will help the market in the coming years. Here, Jonathan Elbrace works on a building in Rutland. - Image: Carli Berry

2017’s Top Stories: Kelowna’s vacancy rate lowest in Canada

Renters found it increasingly difficult to find a place to live in Kelowna in 2017

In 2017, Kelowna’s rental market nearly dried up completely and at the close of the year, the city had the lowest vacancy rate in the country.

Kelowna has a 0.2 per cent rental vacancy rate according a report from the Canadian Mortgage and Housing Corporation. In 2016, CMHC reported the vacancy rate to be at 0.6 per cent.

Related: Woman targetted in Kelowna rental scam

Diminishing supply has led to a rise in cost and CMHC reported that Kelowna also had the biggest rent-rate hike in the country.

In September, a report released by PadMapper analyzed hundreds of thousands of rental listings in the 25 largest cities in the country.

In the report, Kelowna moved up the monthly Top 10 for most expensive rental markets, outpacing Ottawa to rank as the sixth most expensive city in Canada with one bedroom rent growing 3.8 percent to average $1,100.

The average vacancy rate for purpose-built rental apartment units across Canadian centres with a population of 10,000 or more decreased from 3.7 per cent in October 2016 to 3.0 per cent in October 2017, according to Canada Mortgage and Housing Corporation’s 2017 Rental Market Survey.

Related: 2017’s Top Stories: PLANKelowna’s Beach Walk

While it’s getting more difficult to be a renter in Kelowna, there could be relief ahead.

Coun. Luke Stack said earlier this year that the city had implemented some policies that were aimed at increasing the city’s rental stock.

“One of the things we have in the works at city council is tax incentives for purpose built rental housing,” Stack said this summer.

“That has been successful and we have approximately 1,500 rentals under construction. I’m optimistic that when those come along it may give us some relief.”

Many renters had problems finding accomodation, especially those with pets.

“(I’ve) got no friends, family, anything here. I’ve got one friend but she lives in an apartment building but she has a cat and it’s no dogs allowed,” said Vance Deakin.

He said trying to find a place in Kelowna that allows dogs has been “frustrating.”

“No one wants to rent with dogs. I don’t know why but they’ll take a cat,” he said.

To report a typo, email: edit@kelownacapnews.com.


@KelownaCapNews
newstips@kelownacapnews.com

Like us on Facebook and follow us on Twitter.

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

B.C.’s 2021 budget is trending in the right direction to support farmers, says the BC Fruit Growers’ Association. (Phil McLachlan - Capital News)
B.C. budget receives thumbs up from Okanagan fruit growers

BCFGA general manager said budgetary investments put farming industry on a good trajectory for recovery

Kelowna General Hospital (File photo)
COVID-19 outbreak at Kelowna General Hospital declared over

A total of three cases were linked to the outbreak in unit 4E— one patient and two staff

Sheldon Pierre Louis’s winning mural design, “kʷu mr̓imstn, we are medicine.” (Facebook: Okanagan Nation Alliance)
Syilx artist selected as winner of Kelowna Gospel Mission’s mural project

Sheldon Pierre Louis was also awarded $10,000 for his winning submission, “kʷu mr̓imstn, we are medicine.”

The administrative headquarters for Central Okanagan Public Schools in Kelowna. (File photo)
Another 6 Central Okanagan Schools exposed to COVID-19

The school district has seen a rise in cases at several of its schools over the course of the month

A lone traveler enters the Calgary Airport in Calgary, Alta., Monday, Feb. 22, 2021. THE CANADIAN PRESS/Jeff McIntosh
VIDEO: Trudeau defends Canada’s travel restrictions as effective but open to doing more

Trudeau said quarantine hotels for international air travellers will continue until at least May 21

President Joe Biden holds a virtual bilateral meeting with Canadian Prime Minister Justin Trudeau. (AP Photo/Evan Vucci)
U.S. to help Canada with more COVID-19 vaccine supply, Biden says

The U.S. has already provided Canada with about 1.5 million doses of the AstraZeneca vaccine

Lustenberger getting ready to go down one of the last unskied lines at Rogers Pass on Mt. Macdonald. (Photo by Andrew Mcnab)
Meet Christina Lustenberger — one of Revelstoke’s great skiers

The athlete has many first ski descents throughout B.C.

B.C. Finance Minister Selina Robinson leaves the assembly with Premier John Horgan after the budget speech Tuesday, April 20, 2021. THE CANADIAN PRESS/Chad Hipolito
Paid sick leave for ‘hard-hit’ workers left out of provincial budget: BCGEU

‘For recovery to be equitable it requires supports for workers, not just business,’ says union president Laird Cronk

Cannabis bought in British Columbia (Ashley Wadhwani/Black Press Media)
Is it time to start thinking about greener ways to package cannabis?

Packaging suppliers are still figuring eco-friendly and affordable packaging options that fit the mandates of Cannabis Regulations

A large crowd protested against COVID-19 measures at Sunset Beach in Vancouver on Tuesday, April 20, 2021. (Snapchat)
VIDEO: Large, police-patrolled crowds gather at Vancouver beach for COVID protests

Vancouver police said they patrolled the area and monitored all gatherings

Shuswap businesses dependent on  tourism are bracing for further details of travel restrictions expected to be announced by Friday, April 23. (Lachlan Labere-Salmon Arm Observer)
B.C. travel restrictions create uncertainty among North Okanagan-Shuswap businesses

Sicamous mayor to ramp up campaign against licence plate hate

The site of a proposed water bottling facility referred to in a groundwater licence application is in the vicinity of this intersection. (Martha Wickett - Salmon Arm Observer)
Concerns raised over water licence application in Salmon Arm for bottling water

Neighbours want to know more, city councillor concerned about commercial use of public aquifers

In this image from video, former Minneapolis police Officer Derek Chauvin, center, is taken into custody as his attorney, Eric Nelson, left, looks on, after the verdicts were read at Chauvin’s trial for the 2020 death of George Floyd, Tuesday, April 20, 2021, at the Hennepin County Courthouse in Minneapolis, Minn. THE CANADIAN PRESS/Court TV via AP, Pool
George Floyd’s death was ‘wake-up call’ about systemic racism: Trudeau

Derek Chauvin was found guilty Tuesday on all three charges against him

Most Read