Local Community Advertising
It's hard to believe, but Kelowna's rent prices actually decreased to start May.
This month's Canadian Rent Report is an anomaly for the biggest city in B.C.'s Interior.
The new report pegs Kelowna as the 10th most expensive rental market in Canada, down three spots from April.
According to PadMapper, the price of a one bedroom rental in the city dropped 2.6% in from April to May and increased by a slight 0.6% for two bedrooms.
Data shows that one bedroom rentals have decreased 2.6% from April and are now going for a median price of $1,120.
Meanwhile, two bedroom rentals have gotten 0.6% more expensive and are going for a median price of $1,660.
Despite the month over month changes, Kelowna's rent has skyrocketed since this time last year.
The price of one bedroom rentals is up 9.8% since this time last year and the price of a two bedroom rental is up 3.8%
Kelowna is the cheapest of three B.C. cities in the top 10, with Vancouver being the most expensive rental city in Canada and Victoria not far behind in sixth place for both one and two bedroom rentals.
Abbotsford is the only other B.C. city in the top 25, coming in at 18th.
Local Community Advertising