Rental prices in Kelowna continue to skyrocket, according to a monthly PadMapper rental report.
In February, the report said the average cost for a one-bedroom unit in Kelowna rose by 3.7 per cent to $1,400. Over the past year, the average cost for a one-bedroom unit in Kelowna increased by 6.1 per cent.
READ MORE: Price for one-bedroom rentals in Kelowna jumped 10.8% from October to November
In February, the report said the average cost for a two-bedroom unit in Kelowna also climbed by almost five per cent to $1,710. Over the past year, the average cost for a two-bedroom unit in Kelowna has increased by almost seven per cent.
The report said Kelowna also saw the biggest rental increases for one and two-bedroom units in February compared to any other B.C. city.
With the price increases, Kelowna has also moved up one spot to be the seventh most expensive city to rent in Canada.
Across the province, the cost to rent a one-bedroom unit in Vancouver increased by 2.3 per cent in February to $2,200. In Victoria, the cost to rent a one-bedroom unit increased by 0.6 per cent to $1,600 in February.
To view the full rental report, you can visit PadMapper’s website.
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connor.trembley@kelownacapnews.com
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