Rent in Kelowna remains fifth most expensive in country, according to PadMapper. (File)

Rent in Kelowna remains fifth most expensive in country, according to PadMapper. (File)

Kelowna rent remains fifth most expensive in country

New data shows Kelowna rent rose in December, contrary to other large cities which dropped

Rent in Kelowna remains at the fifth most expensive in the country.

According to a new report by Padmapper, the average rent for one and two-bedroom homes in Kelowna currently sit at $1,510 and $1,790, respectively. This is 11.9 per cent more expensive than the same time last year.

Kelowna’s two-bedroom rentals remained unchanged since last month, but are up 11.2 per cent since 2019.

READ MORE: UPDATE: Large fire destroys West Kelowna boat storage building

In October, Kelowna was tied with Ottawa for an average of $1,500 per month for one-bedroom rentals. While Ottawa’s average rent fell to eighth place since that time, to $1,420, Kelowna’s rent rose $10.

READ MORE: Kelowna fifth most expensive rental market in Canada

Unsurprisingly, rental prices in Vancouver remain the highest in the country, at $1950 per month for one- bedroom rentals, and $2,680 for two-bedroom rentals.

The top four most expensive cities, Vancouver, Toronto, Burnaby and Victoria, all saw rental price decreases of 1.5 per cent, 5 per cent, 2.9 per cent and 1.2 per cent, respectively.

Kelowna however was the only city in the top five most expensive markets to increase in price in December, rising 4.1 per cent.

Every month, PadMapper analyzes rental data from hundreds of thousands of active listings across the country. These are then used to calculate average asking rents for the top 24 most populated cities in the country.

This data does not include short term or Airbnb rentals.

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READ MORE: Kelowna RCMP changes approach to Big White policing amid COVID-19 concerns

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


 

@newspaperphil
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