June 11, 2014 - 6:02 PM
KELOWNA – Kelowna is one of the hardest cities in the country to find apartments to rent, according to a national rental market survey.
The 2014 study compares vacancy rates and average rent in cities across the country. It lists Kelowna as one of the bottom three in terms of availability.
While the average vacancy rate of rental apartments in Canada’s 35 major cities was unchanged at 2.7 per cent since 2013, Kelowna’s vacancy rate dropped to 1.5 per cent from 4.8 per cent over the last year.
Only Calgary and Edmonton had lower vacancy rates, both with 1.4 per cent.
The average Canadian two-bedroom rent was $930 in April 2014. In Kelowna however, it will cost $964 to rent a two-bedroom apartment up from $947 a year ago. Vancouver is the most expensive in Canada at $1,274, followed by Calgary at $1,267 and Toronto at $1,241.
Provincially, the highest average monthly rent is in Alberta, while Quebec pays the least.
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News from © InfoTel News Ltd, 2014