Cost of renting an apartment jumped 16.5 per cent in Kelowna last month, or did it? - InfoNews

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Cost of renting an apartment jumped 16.5 per cent in Kelowna last month, or did it?

Image Credit: ADOBE STOCK
May 21, 2019 - 4:00 PM

KELOWNA - A new report issued today by Rentals.ca says the cost of renting a two-bedroom apartment jumped 16.5 per cent in Kelowna from March to April, to an average rental rate of $2,091.

It also places Kelowna as the ninth most expensive city in Canada to rent a two-bedroom suite.

Last week, a similar report from Padmapper listed the rental rate for a two-bedroom suite in Kelowna at only $1,720, a 4.9 per cent increase, making it the sixth most expensive city in Canada.

Both companies are web-based rental sites.

Rentals.ca says its data is based on listings on its website and "includes basement apartments, rental apartments, condominium apartments, townhouses, semi-detached houses and single-detached houses."

Padmapper.com says it “analyzes rental data from hundreds of thousands of active listings across the country.” It doesn’t specify what type of units it surveys or where the listings come from.

When it comes to one-bedroom rentals, the findings differ as well, but not by as much.

Rentals.ca has one-bedroom suites at $1,266 per month, a 0.8 per cent drop and places Kelowna as the 15th most expensive city in the country.

Padmapper has the one-bedroom rental rate as $1,280, a drop of three per cent from March. That places Kelowna as the seventh most expensive city in Canada.


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News from © InfoTel News Ltd, 2019
InfoTel News Ltd

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