Average rent down in Kelowna, but still increasing across Canada

Average rent in Kelowna has fallen, according to newly compiled data.

The October rent report from Rentals.ca shows a 9.9% decline in the average monthly cost of a two-bedroom apartment in the city (down to $1,634).

But there was too little information for the survey to include a percentage increase or decrease for one-bedroom apartments, which cost an average of $1,374 a month.

Kelowna is ranked 17th of 34 cities in the report, just behind Oshawa and Hamilton in Ontario and Fort McMurray and Calgary in Alberta.

British Columbia as a whole is ranked second in the country, with an average rent of $1,912 a month.

For the whole of Canada, September saw a 2.1% increase on August.

It rose to $1,954, the highest of the year.

Top of the list is, as usual, Toronto.

A one-bed apartment in Canada’s biggest city costs an average of $2,304 a month, while a two-bed is $2,908.

Second is Kanata, a suburb of Ottawa, where a one-bed costs $2,169 and a two-bed $2,998.

Bottom of the list is St John’s, NL, where a one-bed costs $889 and a two-bed $1,107.

To read the full report, click here.