(File photo)

Monthly rental prices skyrocket in Kelowna by up to five per cent

It will now cost you $1,710 on average to rent a two-bedroom unit in city

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.


@connortrembley
connor.trembley@kelownacapnews.com

Like us on Facebook and follow us on Twitter.

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Central Okanagan property crime map released

Crime Stoppers releases a report of property crimes across the Central Okanagan for March

Kelowna distillery Forbidden Spirits to provide free sanitizer to community

Those interested are to bring their own bottle of up to four litres

West Kelowna man charged in relation to cannabis grow robbery in Sicamous

Two suspects remain at large; police believe they left the robbery scene in a white hatchback

40 Under 40: Adam Relvas

The Kelowna Chamber of Commerce has launched its “40 Under Forty” for 2020

40 Under 40: Ross Derrick

The Kelowna Chamber of Commerce has launched its “40 Under Forty” for 2020

UPDATE: Coronavirus concerns prompt event cancellations across the Okanagan

This is a running list of events cancelled across the Okanagan

B.C. unveils $5M for mental health supports during the COVID-19 pandemic

Will include virtual clinics and resources for British Columbians, including front-line workers

B.C. First Nations Health Authority launches virtual doctor program

Program to provide primary health care through COVID-19 pandemic

UPDATE: Canadians awake to extra COVID-19 emergency benefit money, feds clarify changes

The CRA and federal officials are working to clarify the confusion around payments

VIDEO: B.C. singer creates frontline workers tribute song

Cambree Lovesy’s song saluting those battling COVID-19 draws interest online

Statistics Canada report looks at COVID-19’s impact on violence in the family

Police across Canada reported almost 100,000 cases of intimate partner violence in 2018

COVID-19 cancels Funtastic 2020

The sports and music festival in Vernon, Enderby and Port Alberni was scheduled for late June

LUCK involved in new Okanagan online campaign

Two Vernon women create giveLUCK to hear about the “beauty of humanity” in these troubled times

Most Read