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It's hard to believe, but Kelowna's rent prices showed signs of slowing their upwards trend to start June.
This month's Canadian Rent Report is a bit of an anomaly for the largest city in the B.C. Interior.
The new report pegs Kelowna as the 10th most expensive rental market in Canada, down three spots from April of this year.
According to PadMapper, the price of a one bedroom rental in the city dropped 1.8% from May to June and actually decreased by 2.4% for two bedroom units.
Data shows that one bedroom rentals are now going for a median price of $1,140 in Kelowna, with the average price of a two bedroom unit sitting at $1,620.
Despite month over month rent averages trending downwards, Kelowna's rent has skyrocketed since this time last year.
The price of one bedroom rentals is up a whopping 10.7% since this time last year and the price of a two bedroom rental is up 4.5%.
Kelowna remains the cheapest of three B.C. cities sitting in the top 10.
Vancouver is currently the most expensive city for renters in Canada, with Victoria not far behind in sixth place.
Abbotsford, where the average price of a one bedroom unit is $900, sits at 18th and is the only other B.C. in the top 25.
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