Kelowna is currently tied with Ottawa as the fifth most expensive rental market in the country. (Pixabay)

Kelowna is currently tied with Ottawa as the fifth most expensive rental market in the country. (Pixabay)

Kelowna fifth most expensive rental market in Canada

Average one-bedroom rentals in Kelowna now sit at $1,500, two-bedroom at $1,750

Kelowna is currently tied with Ottawa as the fifth most expensive rental market in the country.

The Okanagan city moved up a spot and into the top five in the month of October, according to new research data from PadMapper.

Average one-bedroom rentals in Kelowna now sit at $1,500.

Oddly enough, this is despite Kelowna’s average one-bedroom rent dropping by 3.2 per cent, and two-bedroom rent decreasing 2.2 per cent to $1,750, last month.

However despite last month’s decrease, since the beginning of this year Kelowna’s one-bedroom rental market has increased in price by a whopping 11.9 per cent. Two-bedroom rentals have increased 9.4 per cent.

Above Kelowna on the charts are Victoria and Burnaby at $1,650 and $1,660 per month average for one-bedroom units, respectively. Vancouver and Toronto top the one-bedroom charts at $2,000 and $2,050 per month average, respectively.

In other parts of B.C., Abbotsford’s average one-bedroom rental cost grew by 4.3 per cent to $1,210, up one spot to 15th most expensive in the country. Two bedrooms had an even larger growth rate, increasing 5.3 per cent to $1,400.

The PadMapper Canadian Rent Report (view in full here) analyzes rental data from hundres of thousand of active listings across Canada, compared and calculated on a monthly basis to form average median asking rents for the top 24 most populous metro areas.

READ MORE: RCMP search for man applying anti-COVID posters around Kelowna

READ MORE: RCMP raid Rutland home, neighbour relieved

READ MORE: Penticton mass-murderer apologizes: ‘I tragically disrupted so many lives’

Do you have something to add to this story, or something else we should report on? Email: phil.mclachlan@kelownacapnews.com


 

@newspaperphil
Like us on Facebook and follow us on Twitter.

rental market

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

Just Posted

(RCMP)
RCMP searching for missing Kelowna man

Nathan David Copp was last seen this morning, Oct. 28

(Kerkhoff Construction)
Large Glenmore rental development given greenlight by Kelowna council

The development will contain 238 rental apartment units across four five-storey buildings

Michael Rodriguez, Kelowna Capital News.
UPDATE: Natural gas leak on KLO Road

KLO Road is down to one lane alternating traffic while emergency crews are on scene

Norm Letnick, BC Liberal Party MLA-elect for Kelowna-Lake Country. (Michael Rodriguez - Capital News)
Liberal Party needs youth, urban presence: Kelowna-Lake Country MLA-elect Norm Letnick

The Kelowna-Lake Country MLA-elect also said he will not vie for party leadership

Beyond Learning Kelowna voluntarily closed its doors for the rest of the week to keep its staff and the rest of the community safe from COVID-19 transmission. (Beyond Learning Kelowna)
Kelowna daycare voluntarily closes after COVID-19 case in community

Beyond Learning’s facility director said they wanted to keep staff, children and their families safe

Provincial health officer Dr. Bonnie Henry updates the COVID-19 situation, B.C. legislature, Oct. 26, 2020. (B.C. government)
B.C.’s COVID-19 case count jumps by 287, another senior home outbreak

Two more deaths recorded, community outbreak in Okanagan

Janet Austin, lieutenant governor of B.C., was presented with the first poppy of the Royal Canadian Legion’s 2020 Poppy Campaign on Wednesday. (Kendra Crighton/News Staff)
PHOTOS: B.C. Lieutenant Governor receives first poppy to kick off 2020 campaign

Janet Austin ‘honour and a privileged’ to receive the poppy

An air tanker drops fire retardant on the Christie Mountain wildfire along Skaha Lake in Penticton, B.C. Thursday, August 20, 2020. (Jonathan Hayward - The Canadian Press file)
North Okanagan firefighters thanked for help in Christie Mountain wildfire

Regional District of Okanagan-Similkameen send thank-you note to Vernon firefighters

In past years, Summerland has launched the festive season with the annual Summerland Festival of Lights. This year, as a result of the COVID-19 pandemic, the festival has been cancelled. (Summerland Review file photo)
Festival of Lights cancelled in Summerland

Annual November event normally launches start of festive season

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

Join Black Press Media and Do Some Good

Pay it Forward program supports local businesses in their community giving

The front door was smashed at Simply Delicious aroud 4 a.m. Wednesday, Oct. 28, 2020, but nothing was stolen. (Cameron Grant photo)
North Okanagan business owners hit second time in three months

Simply Delicious broken into, but nothing was stolen

Revelstoke Fire Rescue Services. (File)
RCMP say fire at Revelstoke apartment suspicious

Second fire in less than a week in Revelstoke contained to one unit

Premier-elect John Horgan and cabinet ministers are sworn in for the first time at Government House in Victoria, July 18, 2017. (Arnold Lim/Black Press)
Pandemic payments have to wait for B.C. vote count, swearing-in

Small businesses advised to apply even if they don’t qualify

Most Read