Kelowna 14th most expensive place to rent: Rentals.ca

Apr 14, 2023 | 9:59 AM

A rental property listing website has ranked Kelowna as the 14th most expensive city for renters in Canada this March.

The data, based on active listings at Rentals.ca, showed the average one-bedroom rental in Kelowna was $1,936 per month, while rent for a two-bedroom was $2,362.

The one-bedroom rate was down 1.6 per cent from February, but up 27.8 per cent on an annual basis.

The average listing price for a two-bedroom was up 6.1 per cent monthly, and 9.2 per cent annually.

Kelowna did improve in the rankings on a monthly basis, rising from the 11th spot in February.

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Rentals.ca listed 35 cities from across Canada in its rankings, five of which were located in B.C. Vancouver took the top spot as the most expensive place to rent in Canada, Burnaby was ranked fourth, Victoria replaced Kelowna as the 11th most expensive rentals, and Surrey was ranked 17th.

Vernon was not included in the rankings, but there were four listings on Rentals.ca as of time of publication. Those consisted of a one bed, one bath condo on Okanagan Landing Rd. listed at $2,000 a month; a two bed, one bath apartment on 24th Ave. for $2,000 a month; a one bed, one bath apartment unit on 32nd St. for $1,250; and a bedroom in a shared unit for $800.

B.C. as a whole saw the average property rates for all units rise by 12.6 per cent annually to $2,541 in March, making it the most expensive province for renters. Ontario was second at $2,401 followed by Nova Scotia’s average of $2,167 a month.

Rentals.ca noted B.C.’s average rate for a bachelor suite was $1,904; for a one bedroom it was $2,168; $2,857 for a two bedroom; and $3,342 for a three bedroom unit.

Canada as a whole saw overall rental rates increase 1.0 per cent monthly and 10.8 per cent annually, reaching an average of $2,004 in March.

This was the first national month-over-month increase recorded by the listing website since Nov., 2022.

by Liam Verster

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