Central Okanagan tops Canada in apartment vacancy rates

Dec 12, 2025 | 12:32 PM

Kelowna and the surrounding Central Okanagan region are now facing the highest apartment vacancy rate of any major city in Canada.

That is according to the latest data from the Canada Mortgage and Housing Corporation.

The area—which includes Peachland, West Kelowna, Kelowna, and Lake Country—saw its rental vacancy climb to 6.4 per cent, up from 3.8 per cent last year. Calgary follows at five per cent, while the national average for large cities sits at 3.1 per cent.

One-bedroom apartments in Kelowna were the hardest hit, with more than eight per cent sitting empty, while two-bedroom units had a 5.2 per cent vacancy.

Metro-Kelowna has issued 1,433 building permits worth $969 million so far this year, up from $553 million in the same period last year, but still below pre-pandemic averages. Just 106 new single-family homes have been built.

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With two consecutive years above the three per cent vacancy threshold, Kelowna is eligible to request provincial exemptions on short-term rental rules, potentially giving homeowners new income options while easing hotel demand for tourists.

Gavin Dew, the BC Conservative MLA for Kelowna-Mission, said the combination of rising vacancies and high unemployment highlights challenges for the region. “Those are worrisome indicators of our overall economic health. The folks in Victoria may not get it, but out here we face serious challenges and need balanced solutions to rebuild economic confidence,” Dew said.

In the North Okanagan, Vernon’s vacancy rate has jumped from one per cent to 3.2. One bedroom units are now sitting at 3.7 per cent, and two bedrooms are close behind at 3.4.

by Vernon Matters Staff

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