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Kelowna has climbed into the rankings of Canada's most expensive rental markets to end 2020.
According to a new national rent report, the Okanagan’s largest city has become one of the five most expensive rental markets in Canada.
That's up one spot from last month's report, while still trailing Vancouver (the most expensive market in Canada), Burnaby and Victoria.
To start December, the median price for a one-bedroom unit in Kelowna was $1,510 a month, which is a 4.1% jump from last month and a 11.9% spike from the same time last year.
Looking at two-bedroom units, the median sits unchanged from November at $1,790, however, prices are up 11.2% jump from December of 2019.
Looking across the rest of the country, average rent prices in Kelowna continue to surpass major cities such as Ottawa, Montreal, Calgary and Halifax.
If you can handle the cold, Edmonton continues to offer some of the best rental prices in the country for a city its size, where renters can find a one-bedroom at an average of $950 and a two-bedroom for $1,230.
To read the full report, click here.
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