The cost to rent two-bedroom units has fallen by over 10 per cent in the last 12 months. (Image Credit: City of Kelowna)

By Vernon Matters Staff

getting cheaper

Rental cost falls sharply in Kelowna

Feb 9, 2026 | 5:42 PM

A new report from Rentals.ca says apartment rental asking prices in British Columbia continue to lead the country in declines, down 4.7% in January compared with January 2025.

In Kelowna, two-bedroom asking rental prices fell 10.8% from this time last year

In Vancouver, one-bedroom apartment rental asking prices have fallen by 6.3% .

Christine Boyle, Minister of Housing and Municipal Affairs, called the report more good news for renters, and falling rent prices are one of the ways her government is making life more affordable in British Columbia.

“Seeing asking rent prices fall doesn’t happen overnight; it is deeply connected to the major investments and policies we have been putting in place since 2017, to increase the number of rental homes available for people,” she said.

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“While we build new rental homes, we also know it is essential to protect the most affordable rental homes we already have. Recently, we have celebrated a milestone as B.C.’s Rental Protection Fund surpassed its original goal of protecting 2,000 rental homes in less than three years. Our $500-million investment in this fund enables non-profits to purchase existing affordable rental homes in B.C., preserving them for generations.”