Rental prices keep climbing in Kelowna (File photo)                                Rental prices keep climbing in Kelowna (File photo)                                Rental prices keep climbing in Kelowna (File photo)

Rental prices keep climbing in Kelowna (File photo) Rental prices keep climbing in Kelowna (File photo) Rental prices keep climbing in Kelowna (File photo)

Rental costs keep climbing in Kelowna

Between 2018-2019, cost to rent two-bedroom unit in city increased by 9.4 per cent to $1,385

It’s getting more expensive to rent around Kelowna, according to a recent Canadian Mortgage and Housing Corporation (CMHC) report.

Between Oct. 2018 and Oct. 2019, the report said the cost to rent a two-bedroom apartment in the Kelowna metropolitan area increased by 9.4 per cent from $1,267 to $1,385.

READ MORE: Kelowna ranked 5th most expensive BC city to rent an apartment

Between Oct. 2018 and Oct. 2019, the report said the cost to rent a bachelor suite in the Kelowna metropolitan area also increased by almost nine per cent from $890 to almost $970.

Despite the cost increases, vacancy rates rose from 1.9 per cent to 2.7 per cent across all rental units in the Kelowna metropolitan area between Oct. 2018. and Oct. 2019.

Across the Interior, it now costs $1,080 and $1,100 respectively to rent a two-bedroom apartment in Vernon and Kamloops.

For more information on the report, you can visit CMHC’s website.


@connortrembley
connor.trembley@kelownacapnews.com

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