If you’re a renter here in Kelowna this news comes as no shock: Kelowna is the third most expensive B.C. city to rent in and the fourth most expensive in all of Canada.
According to a report by rental listing site Zumper, the going rate for a one-bedroom in Kelowna is $1,670 and $2,070 for a two-bedroom.
Kelowna surpassed Barrie, Ont., for the number four spot where one-bedrooms run $1,620 per month and two-bedrooms go for $1,800.
Only Victoria, Toronto and Vancouver are more rentals more expensive.
Vancouver tops the list with rates of $2,100 for one-bedroom and $3,000 for a two-bedroom.
This report comes as median housing prices in Kelowna near the $1 million mark.
The Association of Interior Realtors said rising prices are due to a housing supply shortage which can’t meet buyer demand.