Rent on a two-bedroom apartment actually fell in Kelowna | iNFOnews | Thompson-Okanagan's News Source

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Rent on a two-bedroom apartment actually fell in Kelowna

Image Credit: ADOBE STOCK
October 15, 2019 - 2:20 PM

Rental rates were unchanged in September for one-bedroom apartments in Kelowna and dropped in price for two-bedroom units.

That’s according to a PadMapper.com report that showed one-bedroom units renting for $1,340 in September, unchanged from August but still 10.7 per cent higher than last year.

The rent for a two-bedroom unit fell by three per cent to $1,600 for the month which is still a 3.2 per cent increase in the past year.

PadMapper.com lists Kelowna as the eighth most expensive city in Canada, out of 24 surveyed. Its data is based on active listings for apartments only.

Rental.ca, on the other hand, produces data based on rentals of a wider range of units listed on its website such as basement suites and townhouses.

It shows one-bedroom suites renting for $1,374 in September which is $34 higher than the PadMapper rate. There were not enough listings in August for Rental.ca to compare.

Rental.ca lists Kelowna as the 17th most expensive in the country out of 34 cities.

It also shows a decline in rental rates for two-bedroom units of 9.9 per cent to $1,634, which is $34 per month more than Padmapper.

Both sites list Toronto as the most expensive city in Canada with one-bedroom units renting for about $2,300 per month.

No other Interior city is on either list.


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