Kelowna rental rates remain high

Padmapper has listed Kelowna in the Top 10 most expensive rental markets

It’s still pricey to be a renter in Kelowna.

For the third month running, Padmapper ranked Kelowna the 6th most expensive rental market in Canada with the prices of one and two bedroom units settling at medians of $1,130 and $1,590, respectively.

Since this time last year, the price of one bedrooms in the city is up 15.3 per cent.

RELATED: RENTAL RATES RISE

Overall, of the 25 cities in the November Rent Report, eight experienced a bump up in the rankings, six dropped down, and 11 had no change. Notably, the top 10 markets had the largest year over year changes in the country, ranging between 10 per cent – 16 per cent, with six of the 10 cities to experience this.

Top 5 Most Expensive Markets

  1. Vancouver, BC, though experiencing relatively stable rent prices this month with one bedrooms falling 1.9 per cent to $2,080 and two bedrooms staying stable at $3,200, remained the most expensive city in Canada. On a year over year basis, however, one bedroom prices are up 14.3 per cent.
  2. Toronto, ON rent saw a similar trend to Vancouver’s with fairly flat monthly rates, one bedrooms here dropped 1 per cent to $1,920 while two bedrooms increased a slight 0.4 per cent to $2,440, and a large yearly growth rate, two bedroom prices are up 14.6 per cent since this time last year.
  3. Barrie, ON ranked as third with one bedroom rent growing 3.2 per cent to $1,290 and two bedrooms increasing 3.3 per cent to $1,570. One bedroom prices here are up over 15 per cent since this time last year.
  4. Victoria, BC had the largest monthly rental growth rate in the top 10 markets with one bedrooms climbing 5 per cent, settling at $1,270, and up one spot to rank as 3rd. Two bedroom prices had a smaller bump, increasing 0.6 per cent to $1,570.
  5. Montreal, QC fell down one spot and behind Victoria to rank as the 5th priciest city. One and two bedrooms in this city settled at $1,240 and $1,600, respectively.

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



kmichaels@kelownacapnews.com

Like us on Facebook and follow us on Twitter.

Just Posted

Fire destroys travel trailer in West Kelowna

Fire crews were called a blaze just after 5 p.m. Saturday

Injured hiker reported near West Kelowna

COSAR is responding to reports of an injured hiker at Blue Grouse Mountain

Team Canada gold medal winners for first time in world curling championship

Team Canada earned gold in Kelowna at the 2018 Winn Rentals World Mixed Curling Championship

Apples the star fruit of the Kelowna farmer’s market

The second annual Apple Festival was held this morning

UPDATED: Team Canada moves into gold finals at World Mixed Curling Championship

The curling championships are being held at the Kelowna Curling Club

Tommy Chong says cannabis legalization makes him proud to be a Canadian

Legendary marijuana advocate and comedian celebrates cultural milestone at Kelowna event

Watch it again: Kelowna mayoral candidates square off

Missing the LIVE Kelowna mayoral debate watch now

MLA to become Nanaimo’s next mayor, could weaken NDP’s grasp on power

Leonard Krog’s win will trigger a byelection when he gives up his provincial seat

Horvat nets OT winner as Canucks beat Bruins 2-1

Young Vancouver star had spirited scrap earlier in contest

B.C. passenger caught smoking weed in a car issued $230 fine

Saanich police did a field sobriety test on the driver and deemed it safe for him to drive

Payette invites critics to ‘come and spend a few days’ with her

Governor General Julie Payette made her first official to B.C. back in March

Letter: Get the facts on homeless in Kelowna

During the Journey Home process, all task force members agreed the strategy must be evidence based

More pot stores expected in B.C. in coming ‘weeks and months’: attorney general

Attorney General David Eby and Public Safety Minister Mike Farnworth visited the new BC Cannabis Store in the province’s Interior

Letter: Get the facts on cannabis legalization for our kids

“Safe kids” are necessarily safe when pot is legalized

Most Read