The cost of renting a home in Kelowna continues to climb with the median price for a one-bedroom apartment hitting a record high of $1,900 in September.<\/p>\n
That’s up 18% from the median price of $1,610 in September 2021 – an increase of $290 per month, according to online rental service Zumper.com.<\/p>\n
Those renting two-bedroom suites didn't see such a dramatic increase at only 10.1%. Still, the median Kelowna rent in September of $2,400 is a $220 increase over last year.<\/p>\n
The rent for a one-bedroom apartment in September was up 3.8% from $1,830 in August. The price of a two-bedroom actually fell 1.2% month over month.<\/p>\n
These rates leave Kelowna as the fifth most expensive rental market out of 24 cities on the Zumper.com list.<\/p>\n
As usual, Vancouver tops the list at $2,500 for a one-bedroom apartment. While that’s the same rate as in August, it’s up 17.4% from a year ago.<\/p>\n
“Vancouver’s slowdown may be signalling that a rent ceiling has been hit since this city has only continued to break record highs the last six months and renters are no longer willing to pay the sky-high prices,” a Zumper.com news release reads.<\/p>\n
Toronto and Victoria tied for second at $2,090 while Burnaby came in $10 per month lower in fourth place.<\/p>\n
Victoria had the highest year-over-year price increase of 30.6%.<\/p>\n
The only other B.C. city on the list was Abbotsford and it came in 17th at $1,470.<\/p>\n
Kamloops is not included on the top 24 list because there is limited data.<\/p>\n
Zumper.com says the average rent for a one-bedroom apartment in Kamloops fell 1% to $1,590 in September versus August, and rent for a two-bedroom apartment dropped 7% to $2,160.<\/p>\n
To contact a reporter for this story, <\/span>email Rob Munro<\/a> or call 250-808-0143 or <\/span>email the editor<\/a>. You can also submit<\/span>photos, videos or news tips to the newsroom<\/a> and be entered to win a monthly prize draw.<\/span><\/p>\n We welcome your comments and opinions on our stories but play nice. We won't censor or delete comments unless they contain off-topic statements or links, unnecessary vulgarity, false facts, spam or obviously fake profiles. If you have any concerns about what you see in comments, email the editor in the link above. <\/span><\/p>\n","protected":false},"excerpt":{"rendered":" The cost of renting a home in Kelowna continues to climb with the median price for a one-bedroom apartment hitting a record high of $1,900 in September. That’s up 18% from the median price of $1,610 in September 2021 – an increase of $290 per month, according to online rental service Zumper.com. Those renting two-bedroom […]<\/p>\n","protected":false},"author":473,"featured_media":1127,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"guid":"","_duplicate_post":false,"rank_math_canonical_url":"","source":"iNFOnews","byline":"Rob Munro","published":"2022-10-14T05:11:21","updated":"2022-10-14T12:11:21","_infotelid":"IT94533","_prepressid":"94533","_multisite_post_sync":"","_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[540,2,541,543],"tags":[15,47,16,76,765,18],"region":[322,323,324,325],"class_list":["post-604","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-highlight","category-inhome","category-local","category-topnews","tag-housing","tag-housing-crisis","tag-kelowna-news","tag-kloct2022","tag-rental-rates","tag-rob-munro","region-kamloops","region-kelowna","region-penticton","region-vernon"],"parsely":{"version":"1.1.0","canonical_url":"https:\/\/infonews.ca\/inhome\/news\/604\/kelowna-5th-most-expensive-home-rental-market-out-of-24-canadian-cities\/","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Kelowna 5th most expensive home rental market out of 24 Canadian cities","url":"http:\/\/infonews.ca\/inhome\/news\/604\/kelowna-5th-most-expensive-home-rental-market-out-of-24-canadian-cities\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/infonews.ca\/inhome\/news\/604\/kelowna-5th-most-expensive-home-rental-market-out-of-24-canadian-cities\/"},"thumbnailUrl":"https:\/\/infonews.ca\/inhome\/wp-content\/uploads\/sites\/4\/MediaItemID48417-9674.jpg?w=150&h=150&crop=1","image":{"@type":"ImageObject","url":"https:\/\/infonews.ca\/inhome\/wp-content\/uploads\/sites\/4\/MediaItemID48417-9674.jpg"},"articleSection":"highlight","author":[{"@type":"Person","name":"Rob Munro"}],"creator":["Rob Munro"],"publisher":{"@type":"Organization","name":"iNhome","logo":""},"keywords":["housing","housing crisis","kelowna news","kloct2022","rental-rates","rob munro"],"dateCreated":"2022-10-14T12:11:21Z","datePublished":"2022-10-14T12:11:21Z","dateModified":"2022-10-14T19:11:21Z"},"rendered":"