Cost to rent one-bedroom apartment in Kelowna surges past $1,800 mark

The cost of renting a one-bedroom apartment in Kelowna jumped 5.8% in August versus July, coming in at $1,830 per month.

That’s the highest it has been after peaking at $1,800 in April before dropping over the summer.

It also moves Kelowna from sixth to the fifth most expensive of 24 Canadian cities listed by Zumper.com, a major online rental site.

That 5.8% increase was also one of the highest in the county.

READ MORE: Warm, sunny week ahead in Kamloops, Okanagan

Vancouver rents went up by 4.2% and pushed the price of a one-bedroom apartment to $2,500, more than $500 higher than Toronto.

Victoria was the third most expensive city in Canada at $1,970, a drop of 1%, while Burnaby came in fourth at $1,960, a 1% increase from July.

For two-bedroom units, Kelowna saw a 5.7% increase to $2,430. Vancouver topped the listings at $3,630.

A separate Zumper.com report shows the average rent for a one-bedroom apartment in Kamloops dropped 2% to $1,602 but it only shows one apartment for rent.

Some more affordable cities in Canada for one-bedroom apartment rentals include Calgary at $1,450, Abbotsford at $1,410 and Saskatoon at $990.

See the full report here.

READ MORE: Okanagan real estate market faring better than Kamloops and rest of B.C.

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