Kelowna still one of most expensive cities in Canada to rent an apartment
The cost of renting an apartment in Kelowna continues to rise.
In October, the average price for a one-bedroom apartment in Kelowna broke the $2,000 a month mark. In November, the price climbed again reaching $2,032, which is a 1.4% increase, according to Rentals.ca.
The cost of renting a two-bedroom apartment in November jumped by 5.1% to $2,544, an increase of $123 per month. The hikes in rent makes Kelowna the 11th most expensive Canadian city out of 35 on the Rentals.ca list.
Most of the more expensive markets are in the Greater Toronto area and the Lower Mainland — except Victoria which ranks ninth at $2,069 for a one-bedroom unit — a drop of 3.3% from October.
Vancouver continues to top the list at $2,633 for a one-bedroom apartment, up 2.2%. Two-bedroom units increased by the same percentage to $3,598. Lloydminster, on the Alberta/Saskatchewan border, is the most affordable city on the list at $835 for a one-bedroom apartment. The average one-bedroom rental rate in Canada was $1,722.
The full report can be seen here.
READ MORE: Expect rent to keep rising in Kamloops, Okanagan as home prices fall
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