The latest Canadian National Rent Report has been released and Kelowna remains one of Canada's most expensive cities.
Rental prices for a one-bedroom unit in the heart of the Okanagan have increased 15% since this time last year.
One bedroom rentals in Kelowna currently average $1,150 which is good for the seventh highest price in the country.
Things are worse when it comes to two bedroom rentals, as Kelowna sits fourth in the nation with an average price of $1,640.
That’s a 13% increase since March 2017.
A Craigslist search shows that there is some availability for both the one and two bedroom price range reported by PadMapper.
$1150/950 sq ft - 1 bedroom suite in Glenmore
Click here to see the listing.
$1200/500 sq ft - 1 bedroom in Pandosy Village area
Click here to see the listing.
$1675/ 2 bedroom, 1 bath in Downtown Kelowna
Click here to see the listing.
$1700/759 sq ft - 2 bedroom in Lower Mission
Click here to see the listing.
When it comes to B.C. comparables, Vancouver obviously 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.
To see the full Canadian National Rent Report from PadMapper, click here.
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