Kelowna’s rental market has moved to the sixth most expensive market in Canada.
In a 15.5 per cent increase from February 2018, the Canadian National Rent Report from PadMapper sets the medians of one and two bedroom rentals at $ 1,340 and $1,600 respectively in Kelowna.
In January, Kelowna was ranked into seventh out of the 24 largest cities in the country. This month, Kelowna comes in behind Toronto, Vancouver, Burnaby, Montreal, and Victoria.
Overall, nine Canadian cities saw an upward trend, six downward, and nine remained stable last month. Kelowna’s average is just $50 dollars less than the fifth most expensive, Victoria, and could potentially continue to rise.
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