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The latest Canadian National Rent Report has been released and, like usual, it doesn’t look good for Kelowna.
Rental prices for a two-bedroom unit in the heart of the Okanagan have increased 15.8% since this time last year.
Two bedroom rentals in Kelowna currently average $1,610, which is good for the fourth highest price in the country and up 1.3% since November.
Things look a little better when it comes to one bedroom rentals, as Kelowna sits sixth in the nation with an average price of $1,150.
That’s a 1.8% increase since November and a 15% increase since December 2016.
When it comes to B.C. comparables, Vancouver tops the list for both one bedroom and two bedroom rentals.
Meanwhile, the province’s capital of Victoria has a higher one bedroom average than Kelowna, but is cheaper if you’re looking for two bedroom rentals.
The PadMapper Canadian Rent Report combines third-party information with data from hundreds of thousands of PadMapper listings to calculate the average price of rental units in 25 Canadian cities.
Click this link to see the full Canadian National Rent Report from PadMapper.
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