File photo. (THE CANADIAN PRESS/Graeme Roy)

File photo. (THE CANADIAN PRESS/Graeme Roy)

Rental costs jump nearly 10 per cent in Central Okanagan: Report

It now costs an average $1,251 per month to rent a two-bedroom place in Central Okanagan

The cost to rent a two-bed room place in the Central Okanagan has increased by 9.3 per cent since 2017, according to a report published by the Central Okanagan Economic Development Commission.

While it now costs an average $1,251 per month to rent a two-bedroom place, the average rental price is far lower than Vancouver where the same unit will cost you on average $1,652.

READ MORE: Kelowna’s unemployment rates have dropped

The report said the Central Okanagan metropolitan area also experienced substantial population growth jumping from 199,000 people in 2017 to almost 209,000 people in 2018.

The Central Okanagan’s population is expected to continue to grow by 32,000 people between 2018 and 2026.

To view the full report, you can visit Invest Kelowna’s website.

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