Rents fell in Kamloops and Kelowna in May
The cost of renting one-bedroom apartments in Kelowna and Kamloops fell in May compared to April.
In Kelowna, the rent for that one-bedroom unit averaged $1,750 a month in May, according to a report from Zumper.com released Wednesday, June 15.
That’s $50 per month less than April and drops Kelowna from the fourth to the sixth most costly place to rent out of the 24 Canadian cities on the list. It was edged out by Barrie, Ontario, which costs $10 a month more.
In a separate report from Zumper.com, the median rent for a one-bedroom apartment in Kamloops dropped $4 to $1,555 but there are only eight such apartments for rent in that city.
Vancouver remains the most expensive city in the country for rents with the cost of a one-bedroom climbing 14.9% to $2,240 while two-bedroom units shot up 20.9% to $3,300.
Toronto rentals are more than $200 a month lower. Burnaby came in third at $1,960 for a one-bedroom and Victoria was at $1,840 per month.
Earlier reports from Zumper.com did not break Burnaby out as a separate market, which is why Kelowna fell two spots in the ranking.
READ MORE: Is Kelowna running out of room to grow?
Kelowna was the fifth most expensive for two-bedroom units at $2,310, a 5% increase from April.
Compared to May 2021, Kelowna’s one bedroom units are up 15.1% while two-bedrooms climbed 28.3%.
One-bedroom units in Kamloops are up 6% from last year. The report does not give prices for two bedrooms.
Vernon and Penticton are not included in the Zumper.com reports.
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