Apartment rents in Kelowna up almost 12 per cent from last year | iNFOnews | Thompson-Okanagan's News Source

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Apartment rents in Kelowna up almost 12 per cent from last year

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December 15, 2020 - 11:20 AM

Kelowna is the fifth most expensive city in Canada to rent an apartment and is one of the top five most expensive in B.C.

The rankings, compiled by PadMapper, show a one-bedroom apartment going for $1,510 in Kelowna in November. That’s a 4.1 per cent increase over October and an 11.9 per cent increase over November, 2019. It was the only city in the top five to see rents go up in November versus October.

Vancouver topped the list at $1,950 per month, followed by Toronto ($1,900), Burnaby ($1,670) and Victoria ($1,630).

Two-bedroom apartments rent for $1,790 a month in Kelowna, the same as in October but up 11.2 per cent from last year.

Vancouver topped the list at $2,680 for two-bedroom apartments, which is a drop of 1.1 per cent from October and 11.6 per cent from last year.

Kamloops is not listed in the report, nor are any other Okanagan cities are listed in the report.

The PadMapper Canadian Rent Report is compiled from hundreds of thousands of active listings across the country to calculate the median rental rate.

The full report can be seen here.


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