Kelowna is now ranked the third most expensive city for renting in Canada
The average rent for a two-bedroom home in Kelowna hit $2,400 in November, making it the third most costly city in the country, according to Rentals.ca.
Only Vancouver at $2,998 and Toronto at $2,764 were more expensive for two-bedroom units out of 35 Canadian cities listed by Rentals.ca.
Number three on the list for two bedrooms is Oakville, ON at $2,322.
The Kelowna rate for two bedrooms is up 15% over November 2020.
Kelowna ranked fourth for average rent for one-bedroom units at $1,814, up nine per cent from last year. Oakville, at $1,879, is slightly more expensive for one-bedroom.
Toronto came in at $2,040 while Vancouver was at $2,132 for one-bedroom units.
The online rental outlet, Zumper, ranked Kelowna number four for median, rather than average, rental rates in October.
READ MORE: Kelowna 4th most expensive city in Canada to rent a home
Rentals.ca said rents fell nationally in 2020 because of COVID but have since rebounded and it expects to see further increases next year.
Rents in Vancouver, for example, fell 12% from November 2019 to 2020 then rebounded by 12% this year. Rentals.ca predicts they will rise by six per cent next year.
It does not have a forecast for Kelowna rents specifically but expects rents to go up across the country.
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