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Even with price drop, rent in Kelowna 4th highest in country

Image Credit: UNSPLASH/Chris Robert

Kelowna ranked as the fourth most expensive city in the country to rent an apartment in December, even though prices fell by about 5% from November.

One-bedroom apartments in Kelowna had a median price of $1,640 on the Zumper.com online rental site, behind Victoria, Toronto and Vancouver.

Kamloops was not included in Zumper’s monthly rental summary but a separate report says a one bedroom apartment in that city has an average price (as opposed to median) of $1,464. That’s down 4% from November but up 6% from 2020.

Two bedrooms in Kamloops averaged $1,760.

The site lists Valleyview as the most affordable neighbourhood at $750 per month for one bedroom while Sahali was the most expensive at $1,225.

READ MORE: 2021 home sales set new record, tops previous high by 20 per cent: CREA

On the national report, Vancouver’s median rent for a one bedroom was $2,130 with two bedrooms going for $3,050.

One bedroom units in Toronto went for $1,850. Victoria was only $10 behind at $1,840 with Kelowna at $1,640.

Out of 23 cities on the national list, Quebec City came in as the most affordable with one bedroom apartments going for $870 a month.

A separate report put the average (as opposed to median) price for a one bedroom in Kelowna at $1,797, up 24% from the year before. The average price for two bedrooms was $2,049.

That report only lists prices in two Kelowna neighbourhoods. North Glenmore had a median rent of $1,585 for one bedroom and Pandosy North was at $1,425.


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