Rent for one-bedroom in Kelowna leaps past $2,000 a month

The asking rent for one-bedroom apartments in Kelowna jumped 9.5% in August versus July, according to the latest Rentals.ca report.

That pushes the rent to $2,131 per month, making Kelowna the ninth most expensive of Canada’s 35 largest cities. A couple of months ago it ranked thirteenth.

Still the report, which was issued today, Sept. 13, says that’s a 4.1% drop from August 2022.

The cost of two-bedroom apartments rose 3.1% month over month to $2,876, a 1.2% drop from last year.

READ MORE: Okanagan residents flee high prices to relocate to Alberta

As usual, Vancouver had the highest rents in the country at $2,988 for one-bedroom apartments and $3,879 for two bedrooms, although both were drops of around 1% from July.

Burnaby was the only other large BC city with higher rents than Kelowna at $2,555 for one bedroom.

Asking rents for all rental types across the country averaged a record high of $2,117.

Saskatoon had the most affordable rent of the country’s 35 largest cities at $1,055 for one bedroom.

See the full report here.

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